Potential lowering of the division of property charge

When a matrimonial system is liquidated, the State takes 2.5% of the net assets, on the understanding that any payoffs are deducted from the calculation of the net assets. This is a significant cost in addition to the many other costs of divorce. A Bill is currently under discussion to reduce this division charge to 1.1%, or even remove it altogether, which would represent a considerable saving for couples. Watch this space…