The importance of including your family in your Equity Release journey

Equity release is a huge decision that can directly affect your family. Therefore, involving your loved ones in the process from the get-go ensures that they understand the choice you’re making and why.

Inheritance protection for your loved ones

When you choose to release equity, this can result in your family being left with a smaller inheritance or no inheritance at all when you pass away.

However, there is the option of opting for a plan that has an Inheritance Protection Guarantee. This protects part of the value of your home and, as a result, leaves something behind for your loved ones.

For example, out of the funds available, you may choose to take out a smaller percentage in order to leave the rest behind for your family to receive after your passing or once the house has been sold.

Involving your family in the process, whether you have a protection guarantee or not, lets them know that you’re planning on releasing funds from your property and the reasons why.

How can North East Equity Release help?

Our advisors can help you to set up a meeting or call with your family to discuss your decision and reassure them by answering any questions they may have.

In this meeting, your family may wish to clarify aspects of the process or discuss things that you may not have considered.

Equally, this is a good opportunity for your loved ones to get to know us and understand that we are giving the best advice possible that’s suited to your situation.

A family meeting or call allows you to relay how inheritance will be affected, and you may wish to emphasise that the equity released is to support family members while you are alive, whether that be helping a grandchild step onto the property ladder or contributing to the costs of a loved one’s wedding.

We’re here to support you through the equity release process. Contact us or call us on 0191 695 9493 for FREE advice on how to get your family involved in your equity release plan.