Wednesday, August 16, 2017

Division of Matrimonial Assets in Singapore



How matrimonial assets are divided after divorce
After the divorce papers have been filed and settled, courts proceed to deciding on ancillary matters, including the division of matrimonial assets. The matrimonial assets are divided in a just and equitable proportion, taking into account factors such as, the contributions made by each party towards the acquiring of the asset, the needs of the children, the contributions made by each party in looking after the home or caring for any aged relative, any agreement between the parties with respect to the ownership and division of the matrimonial assets, et cetera. An experienced divorce lawyer can advise you on your position and consider the merits of your case.

I am a homemaker. What will I receive?
Matrimonial law recognizes both monetary and non-monetary contributors to the marriage as equal partners exerting different efforts cooperatively for mutual benefit as well as to care and provide for the children. Therefore, homemakers who stay at home to raise the children will be regarded as an equal to breadwinners who work late to financially support the family. However, there still remains the possibility of discrimination against the homemaker spouse, due to property law notions that monetary contribution is a requirement.

Although the law states that it will treat both homemakers and breadwinners as equal partners, equal does not necessarily mean that the assets are apportioned 50-50 all the time. But the trend in case law does show a remarkable record of orders that are very close to 50-50.

Factors that affect the apportionment include the length of marriages and whether it is a childless one. Homemakers in short marriages with no children, tend to receive a smaller portion of assets. Meanwhile, homemakers in long marriages over 20 years are more likely to be awarded an equal, or almost equal, division of matrimonial assets.

Hiring the Best Divorce Lawyer in Singapore
Experienced divorce lawyers with a wealth of experience in handling all aspects of matrimonial matters will be able to advise you on how you can file a divorce, considering the merits of your case.

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