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Inheritance to increase fivefold by 2050
30/09/2011
By 2050, the amount of inheritance given will soar as more people will pass on their wealth and estate to their children when they pass on.
According to a recent report written by HSBC the current average amount received as inheritance is approximately £46,000. However, half of all people who inherit only usually inherit under £10,000.
But, figures have revealed that by 2047 the amount of inheritance left will increase by a staggering amount to an all-time high of £238,000 as people currently aged between 45 and 55 pass on their wealth and estates to their children.
In 2047 alone, the total inheritance left is expected to come to £1.1 trillion. But, the average is not expected to stay at this level. By 2062 the inheritance is due to drop as those who are not as asset-rich start to pass away.
But, if you are a homeowner aged 55 and over and you want to give your children or grandchildren an early inheritance payment. Whether this is to help them buy a house, contribute towards their wedding or help pay for tuition fees, with equity release plans this is possible.
Equity release helps you to release those much needed funds from your property to enable you to give this early inheritance. There are many different equity release funds to suit you such as the drawdown lifetime.
To get more information on how equity release can help you and your family contact the right equity release.
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