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Leveraging equity release to reduce IHT


Sam Meadows argues that the Resolution Foundation’s recent proposals to replace IHT with a "lifetime receipts tax" on individuals receiving any inheritance, with each heir receiving a tax-free allowance of just £125,000, will result in even more need to use clever financial planning to avoid pitfalls. More people than ever, he says, agreeing with the Equity Release Council, are using equity release as a “living inheritance” and passing money to descendants while they are still alive. Equity release is also not without its risks however, he notes, as the interest rates are typically much higher than regular mortgages and the debt can grow very quickly.

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