In the past, equity release may have been seen as a last resort but it is now regarded as a real opportunity for people to take tax planning steps that would not otherwise be available.
While the recent changes to inheritance tax may have reduced the number of estates liable to IHT, there are still a significant number of households that are potentially liable to pay the tax. For these clients, Equity Release offers a potentially attractive option.
Equity Release will not be appropriate for every client but it can, in the corrct circumstances, be a valuable part of and IHT-saving strategy. The first stage will always be to consider the more obvious forms of planning. Fpr example, it is essential that clients have wills in place that make maximum use of tax-planning opportunites, particularly where business property is concerned.In addition, all IHT exemptions should be fully utilised and, where a client has suplus free assets, outright gifts (PETs or Potentially Exempt Transfers in IHT talk!) should be made if possible.
This is an involved area and I have linked with a well-reputed local IFA which specialises in IHT planning. Utilising our experience and skills will ensure you have the best of advice and the most tax efficient solution for your needs.
All Equity Release products offered by Michael Knight Mortgages offer great peace of mind for my clients as they have a no negative equity guarantee and you are certain of being able to remain in your home until death or moving into long-term care. Check the following site www.ship-ltd.org which is the body that looks after the interests of equity release providers.
Call me now on 0845 029 1962 or mail at michael@michaelknightmortgages.com for more information or arrange for an informal discussion.