The answer to this depends on your specific circumstances, which is why you should always speak to an advisor first. For some, equity release is a great idea as it allows them to enjoy the later years in their life with extra cash. In addition, releasing money from your home by equity release is tax-free. It will however reduce the value of your estate, and it can also affect means-tested state benefits like pension credit or council tax reduction.
A certified and experienced financial advisor will be able to advise you whether you should release equity or not.