Grandparents could help families with cost of living crunch: Living inheritance explained

Henry Dannell specialists noted “it’s vital” that people looking to pass on a living inheritance are sure that they will still be able to support themselves financially for the rest of their lives before giving it away. 

They noted: “A good ‘rule of thumb’ is to give away what you definitely will not need but leaving enough to ensure a comfortable retirement.”

There are many methods to pass on a living inheritance, some of which even provide inheritance tax relief for when they do die and provide a traditional inheritance. 

For those over the age of 55, they can release the equity held in their home, extracting the cash value of their property without having to leave.