Division of Matrimonial Assets – What Will I Get?

The division of matrimonial assets is typically one of the main sources of tension when parties discuss ancillary matters. Where an out-of-court settlement is not possible, the court will decide on the division of assets between parties.

According to s.112(10) of the Women’s Charter, matrimonial assets refers to all property acquired during marriage. Properties acquired before the marriage are generally not considered to be matrimonial assets unless they are ordinarily used by the family or substantially improved by both or either party. This does not include assets acquired by way of “gifts” or “inheritance” unless they refer to the “matrimonial home” or the asset has been substantially improved by both or either party.

The court will decide on the division of assets in a ‘just and equitable’ manner. The factors which the court will take into account can be found under s.112(2) of the Women’s Charter. This comprises mainly:

• The extent of the contributions made by each party towards acquiring, improving or maintaining the matrimonial assets;
• Any debt owing or obligation incurred or undertaken by either party for their joint benefit or for the benefit of any child of the marriage;
• The needs of the children (if any) of the marriage; and
• The extent of the contributions made by each party to the welfare of the family etc.

For more information, please visit http://www.gjclaw.com.sg/areas-of-practice/family-law/divorce/