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Protected Divorce Settlements

1st November, 2013

The Daily Mail this week reported news that could help to protect divorce settlements.

Currently, only balances of £85,000 are protected in the event of a bank failure, but new EU regulation will see that protection increase to £500,000 in circumstances where it can be shown that the money relates to short-term balances from one-off events, such as the receipt of a divorce settlement.

These changes are aimed to reach English Law within two years.

For more information please contact Chris Longbottom on 01244 405415 or email [email protected]

 

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