Leave a lasting legacy by protecting your inheritance!
Death is always a difficult topic to contemplate, no matter how old you are. However, if you don’t seriously consider what will happen when you die, you could leave your kids with nothing but heartbreak.
In addition, equity release can drain your estate, meaning there will be nothing left to pass down to your heirs.
However, there is a solution!
We’re here to show you:
- The secret to protecting your inheritance.
- How you can unlock equity while still giving your heirs a portion of your estate.
- How your actions now will impact what happens later.
As leaders in the UK equity release market, we’ve got the latest insight into how you can live financially free now, and when you pass away, give your family the boost that most people need.
Discover this right now!
Leaving an Inheritance for Loved Ones
We all want to ensure that our loved ones live prosperous lives.
If you’re lucky, your kids are thriving financially and you don’t need to worry about their futures. However, in these tough economic times, that’s not always the case.
It’s vital to ensure that you find the perfect balance between protecting your own interests and looking after your family.
You need to have money to get through retirement so don’t let your generosity be detrimental to your future. Very often, this can be done through equity release.
5 Ways to Protect Your Inheritance
Your loved ones will certainly mourn your loss. Between funeral arrangements, mourning, and cleaning up an estate, the death of a parent is never easy.
In addition to inheritance protection offered with equity release mortgages, there are additional ways you can protect your family’s financial future.
Follow these 5 steps:
- Ensure that you’ve created a will and kept it up to date.
- You can consider signing a prenuptial agreements1 if you’re remarrying later on in life, to protect your family’s wealth from being lost in case of divorce or death.
- Create trusts2 so your money will not need to go through probate court when it is time to divide assets among heirs, which may take years if there are multiple beneficiaries.
- Purchase insurance policies such as life insurance or an annuity policy with a payout option that ensures heirs will get the money upon death rather than waiting until all debts are paid off.
- Making sure that all your beneficiaries are up to date and listed.
You need to take the time to make informed decisions about what your future legacy will be. It may not seem like much today, but it could mean a lot in years to come.
Get in touch with a financial adviser who can guide you through the process.
Inheritance Protection With Equity Release
The choice for taking on an equity release loan might seem counterintuitive at first because you’re essentially borrowing against your house when you haven’t sold it yet – but there are some major benefits.
While Equity release essentially means that you’re using the cash in your estate instead of leaving it to your kids, there are options to get the best of both worlds.
Inheritance Protection Options
Protected Equity Guarantee
The inheritance protection guarantee allows you to borrow against the value in your home and still keep aside a portion of your estate that will be left to your heirs.
This guarantee is offered by several lenders so be sure to ask about this at your initial appointment.
Interest Payment Plans
Some equity release providers give you the option to make interest-only payments for a set period, usually up to 20 years.
During this time, any payments made on loan will be used to build as much equity in your home as possible so it can be passed down later. The repayments will also build up funds for other priorities like retirement, children’s education, and more.
Voluntary Payment Options
In addition, utilise the maximum allowable interest-free period without any additional repayments required.
Getting Professional Help From Attorneys
It’s important to take steps now so that you can leave an inheritance worth passing on to your loved ones – a legacy that will undoubtedly be cherished more than anything else.
How Much Does Inheritance Protection Cost?
The cost will vary depending on the type of inheritance protection you choose, but each offers several significant benefits that make it worth the investment.
Do I Need a Solicitor?
A solicitor is a legal professional that helps with the process of inheritance protection. If you’re not confident or familiar with what should be done, it’s always best to speak to one before making any decisions about your future and how much money will go towards loved ones after you are gone.
How Can Inheritance Protection Help My Family?
Inheritance protection is a way to ensure that your loved ones will be cared for after you are gone. You can choose to protect your children or grandchildren, and it will make sure that they have enough money for whatever life throws their way.
Should I Speak to a Financial Planner?
Yes, absolutely. It’s not enough for you to know what inheritance protection is – you must understand the ins and outs of how much they cost, what they will do for your loved ones after death, and any potential drawbacks.
With the right guidance, the best of both worlds is possible to achieve.
We all want to leave a lasting legacy and ensure that our kids are protected for the rest of their lives. That’s why estate planning is so important – and why everyone should have at least some kind of plan in place before anything happens.
Are you wondering how much equity there is in your estate? Try out our FREE equity release mortgage calculator right now!