divisions of matrimonial assets
Knowing how much to ask for in a divorce is a science when you have experience. You may be giving up too much if you don’t understand this area of law.
As a lawyer handling such matters we can advise you on how to navigate this area with ease.
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FAQS
In a Divorce, the Singapore Courts attempt to place parties in a position where they can continue their lives without having to rely on their ex-spouse.
During the course of the marriage parties would have accumulated assets, as such they are each entitled to a part of these assets.
A spouse who contributed 0% towards the total matrimonial assets is still entitled to a share of the matrimonial assets.
The Singapore Courts view contributions in two (2) ways:
Direct Contributions:
- Who paid the downpayment for the house;
- Who paid the monthly mortgage
- Who bought matrimonial assets (investments, vehicles, fixture & fittings)
- Who funded the family savings
Indirect Contributions:
- Who looked after the family (cooking, cleaning, looking after the children);
- Who managed the family affairs for financial and non-financial matters;
- Who helped grow the family assets.
The Singapore Courts view the value of Indirect Contributions as valuable contribution towards the family. The rational is that the spouse was only able to earn such an income owing to the freedom he/she had due to the other spouse's indirect contributions.
*This is a non-exhaustive list.
Its best to speak to us so that we can analysis your case and provide you with a more accurate analysis.
Example
Total Assets Valued at 1,000,000
Spouse A: Direct Contributions :80%
Indirect Contributions:10%
Spouse B: Direct Contributions: 20%
Indirect Contributions: 90%
Spouse A: 90/200 (45% of Total Assets)
Spouse B: 110/200 (55% of Total Assets)
Don't worry, speak to us. There are other factors that affect how matrimonial assets are divided. Factors such as the conduct of the other spouse, length of the marriage, source of funds that contributed towards the matrimonial assets affect the end result.
You may be able to file an Appeal to the High Court Division of the Family Court. There is a limited time frame for filing Appeals, so you need to act quickly.
As proceedings in the High Court division is costly, we highly recommend having your matter reviewed first before proceeding further.
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