A survey by Key Retirement Solutions, of over 3000 retired homeowners, has shown that 62% claim that their children see their well being, as being worth more than any inheritance.
The research revealed that of those who have taken out equity release plans in the past 5 years, 82% have involved their families in any decision to release cash from their properties. 72% of these are supportive, while only 1% disproves, and 2 per cent were unhappy. Six per cent said that the money raised from the scheme had been used to help their children onto the property ladder, seven per cent have used it to visit family or friends, and 2% have spent the money helping their children set up a business.
Our view
Most people says this but wait until a parent passes on and then see who does care about wealth. Sorry, we are realists.