Division of Matrimonial Assets

When it comes to deciding how to divide and distribute Matrimonial Assets and Properties during a Divorce, the Court’s main aims are to ensure that the division is just and equitable and that what you and your spouse each receive is fair in the circumstances.

Matrimonial assets are the assets and property acquired during the marriage and anything acquired before the marriage is generally not considered a matrimonial asset unless it was used by your family or it was substantially improved by you and your spouse – common examples of matrimonial assets include savings, CPF account monies, insurance policy pay-outs, stocks and shares and the family car. Likewise, assets that you acquired through a gift or inheritance from your parents or relatives are generally not considered matrimonial assets unless it involves a matrimonial home or something which was also substantially improved by you and your spouse.

Unlike the process and rationale for Divorces in other countries, there is no default starting point of a 50:50 split in Singapore. On the contrary, the Court will take in account a number of different factors such as the direct financial contributions (e.g. how much you paid for the asset) and the indirect non-financial contributions (e.g. how much you contributed towards building and maintaining the family unit such as by being involved in looking after the household or as being the main caregiver of the children).

If you would like to understand more about this subject and how the issues discussed in this article may affect you, get in touch with our lawyers today.