Property and Divorce: How is My Share Calculated?

Matrimonial Assets & Division

In the event of a divorce, one primary concern is how matrimonial assets are divided. Singapore’s legal framework aims to ensure that both parties receive a fair share, with the courts exercising authority to distribute assets in a “just and equitable manner“.

Factors Influencing the Distribution of Assets

Several criteria guide the courts in this process:

Monetary Contributions

: The financial contributions made by each party towards acquiring assets. Whether it is a single or dual income marriage.

Family Welfare Contributions

: This refers to non-monetary inputs such as looking after the family, raising children, or maintaining the home.

Children’s Needs

: The welfare and requirements of children from the marriage.

Pre-Existing Agreements

: Any mutual agreement that the couple might have concerning the distribution of assets upon divorce..

Duration of the Marriage

: The length of the marriage can influence how much weight is given to indirect contributions, like homemaking.

Understanding Matrimonial Assets

The distribution of assets in a divorce can often be a complex matter, depending on various factors. One key factor is the classification of assets as matrimonial or non-matrimonial. Here’s a deeper dive into the topic:

What qualifies as a Matrimonial Asset?

Matrimonial assets are typically those acquired during the union of two parties.

These can be:

Jointly Acquired

: Both spouses have contributed, either financially or otherwise, towards its purchase. This includes shared investments, property bought together, or even businesses jointly started during the marriage.

Individual Acquisitions

: If one party procures an asset, like a car or jewellery, during the marriage, it is still generally regarded as a matrimonial asset because it was acquired while the marriage was in effect.

Pre-Marriage Assets

While assets procured before the marriage are not automatically classified as matrimonial assets, they can be included under certain circumstances:

Family Use

: If a property purchased before marriage becomes the family home or is used predominantly by the family, it could be categorized as a matrimonial asset. For instance, a house owned by one spouse before marriage but where the family has lived for years would likely be included.

Enhancements

: Assets that have been substantially upgraded or improved during the marriage by both partners can also be considered. For example, a home bought before marriage but which has undergone significant renovations funded by both spouses during the marriage may fall under matrimonial assets.

Read more: Matrimonial Assets before Marriage

Gifts and Inheritances

These are typically not classified as matrimonial assets. However, exceptions arise:

Matrimonial Home

: If a property received as a gift or inheritance becomes the matrimonial home, it can be considered a matrimonial asset.

Substantial Enhancements

: If gifts or inheritances have been significantly improved upon or upgraded using shared marital resources or efforts, they can be brought under the umbrella of matrimonial assets.

Range of Matrimonial Assets

Beyond properties, matrimonial assets encompass a broad range:

Businesses

: Any enterprise started during the marriage, even if one spouse is not actively involved, can be included.

Insurance Policies

: These can be life or general insurance policies where premiums have been paid using marital funds.

Shares & Investments

: Stock market investments, mutual funds, or other financial instruments bought during the marriage.

Vehicles

: Cars, boats, or any other vehicles purchased while married.

Savings

: Money saved during the marriage, regardless of whose salary it comes from.

CPF Balances

: The Central Provident Fund (CPF) balances accumulated during the marriage period can be split among spouses.

Jewellery

: While often viewed as personal items, jewellery bought during the marriage can be considered, especially if its value is significant.

Read more: What are Matrimonial Assets?

Contribution Ratio Examples

Short Marriages

: In scenarios where the marriage duration was brief, direct monetary contributions might be emphasized more, as indirect contributions like homemaking might be minimal.

Long Marriages

: For lengthier unions, indirect contributions such as child-rearing or homemaking can hold substantial weight. Thus, even if one party didn’t contribute financially, they might still secure a larger share due to their significant indirect input.

Each case is unique, and there’s no default assumption that both parties contributed equally.

Guidance from GJC Lawyers

With Gloria James-Civetta & Co by your side, you can be confident that you have a team of experts committed to ensuring that you receive a just and equitable settlement.

Our seasoned divorce attorneys handle a multitude of intricate financial cases, ensuring you receive a fair settlement tailored to your situation.

Trust in our experience, expertise, and dedication as we guide you through this challenging phase of life.

Our Commitment to Personalized and Informed Divorce Representation

Depth of Experience

: Our team comprises experienced divorce lawyers who’ve seen a wide spectrum of financial cases, from straightforward ones to those involving intricate financial webs. Our experience places us in a unique position to advise and strategize optimally for any scenario.

Personalized Approach

: Understanding that every client’s situation is unique, we don’t believe in a one-size-fits-all approach. Instead, we take the time to understand your personal and financial circumstances, tailoring our advice to align with your needs.

Updated Knowledge

: Beyond their expertise in legal matters, we are skilled in mediation. They strive for resolutions at every stage of the divorce process, saving time, money and emotional distress. However, should the need arise, we are well-prepared to represent your best interests vigorously in court.

Mediation and Conflict Resolution

: Cars, boats, or any other vehicles purchased while married.

Comprehensive Financial Analysis

: Our team collaborates with financial experts to ensure a comprehensive analysis of all assets involved. This ensures an equitable division and that no stone remains unturned in securing your rightful share.

Transparent Communications

: At GJC, we believe in maintaining open channels of communication with our clients. We’ll keep you informed at every stage, demystifying the legal jargon and ensuring you’re always in the know.

Ethical Practices

: Upholding the highest standards of integrity and ethics, our lawyers ensure that the entire process is transparent, fair, and in the best interest of our clients.

We’re here for you

Your 30-minute free consultation with our family lawyers will include advice on:

Laws applicable to your situation;
Options available if you decide to take matters forward;
Estimated costs involved in your matter.

Post Views: 1,701