Asset Division in Singapore Divorce Cases

Asset Division in Singapore Divorce Cases: Understanding Rights and Contributions

Going through a divorce is undoubtedly a challenging process, which is why understanding the intricacies of asset division and spousal maintenance in Singapore can make a significant difference. In this blog, we will explore the rights and contributions in asset division during divorce proceedings, shedding light on crucial aspects that can impact the outcome.

Filing for Divorce in Singapore

Before delving into the nitty-gritty of asset division, it’s essential to understand the eligibility requirements for a divorce in Singapore. The divorce process comprises two stages: the Dissolution of Marriage and Ancillary Matters. The former refers to the legal process of proving an irretrievable breakdown of marriage to obtain an interim judgement while maintenance, child custody, and asset division are handled in the latter. During the later stage, parties need to submit documents like the Affidavit of Assets and Means, Income and Expenditure statement, Ancillary Matters Facts and Position Sheet, and a Declaration of Assets. The court may schedule a mediation session to encourage amicable resolution before setting a hearing date. Domicile or habitual residence and a minimum marriage duration of three years are prerequisites outlined in the Women’s Charter. In the midst of divorce proceedings, engaging a reliable family lawyer is important to guide you through the complexities, ensuring vital documents and procedures are all in place.

Delving Into Spousal Maintenance

Spousal maintenance, also known as alimony or spousal support, is a legal responsibility wherein one spouse provides financial assistance to the other during or following a divorce. In Singapore, both wives and incapacitated husbands possess the right to seek financial support. The court has the authority to order maintenance, whether it be after the dissolution of marriage, during judicial separation, or an annulment. This decision takes into account the financial circumstances and needs of the parties involved.

Assessment of Maintenance

Section 114 of the Women’s Charter outlines factors considered in granting a maintenance order. These factors help determine the amount and duration of maintenance awarded after divorce, judicial separation, or nullity of marriage:

1. Financial Resources

The income, earning capacity, assets, and other financial resources of both parties, both present and foreseeable in the future.

2. Financial Needs and Obligations

The financial needs, obligations, and responsibilities of both parties, now and in the foreseeable future.

3. Standard of Living

The standard of living enjoyed by the family before the breakdown of the marriage.

4. Age and Duration of Marriage

The age of each party and the duration of the marriage.

5. Contributions to the Family

The contributions made by each party to the welfare of the family.

6. Potential Loss of Benefits

In the case of divorce or annulment, the value of any benefit (e.g., a pension) that the parties may have to forego holds significant importance. To protect the client’s rights and interests, it’s advisable to hire a family law specialist for professional assistance to mitigate issues that may arise during legal proceedings.

The Basics of Matrimonial Assets

Matrimonial assets, as defined in Section 112(10) of the Women’s Charter, encompass:

  • Assets acquired by one or both parties during the marriage.
  • Assets utilised by one or both parties or their children for diverse purposes.
  • Assets obtained before the marriage but significantly enhanced in quality during the marriage.
Divorce signing official documents

These assets can be the matrimonial home, property acquired during the marriage, and pre-marital property substantially improved or enjoyed by the family. The division of matrimonial assets in divorce proceedings tends to be a highly disputable and sensitive matter. Notably, the Court’s distribution can impact the standard of living for each party.

Hence, divorce in Singapore requires a comprehensive understanding of asset division and spousal maintenance to avoid lengthening the process unnecessarily. With the guidance of a competent divorce lawyer and foundational knowledge of the legal framework, a fair and equitable resolution can be provided for all parties involved.

Learn more: The Importance of Choosing a Right Lawyer for Divorce in Singapore

While filing for a divorce can be a daunting and tedious process, the team at Family Law Specialist is committed to providing comprehensive support every step of the way. Benefit from our 30 years of expertise, tailored solutions, and successful outcomes. 

Schedule a consultation with us for strategic legal advice.

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