Equity release 'to minimise the burden of inheritance tax'?

Equity release might be used the minimise the burden of inheritance tax for those with private wealth, as one expert notes assets can be passed on in this manner while an individual is living.

Britons with private wealth might be hoping to support family and loved ones, so equity release could be used to help offspring buy their first home or pay for luxury items.

Dominic Fraser Smith, retirement manager at Aviva, notes more people than ever before are investigating the option, as a way to enjoy the maximum benefits of a lifetime of hard work.

The wealth management expert advises this approach can allow individuals "to see the benefits of [equity release] being used".

It might also ensure fairer division of personal assets, allowing family members to share private wealth and minimising the amount potentially lost through inheritance tax.

Recent changes ending the requirement to annuitise by the age of 75 may also have given people more choice over how they manage their wealth in later life.  ADNFCR-2318-ID-800067444-ADNFCR