DollarsAndSense.sg dollarsandsense.sg 22 Sep, 2020 04:45 am

What Are The Financial Implications To Consider When Undergoing A Divorce In Singapore?

What Are The Financial Implications To Consider When Undergoing A Divorce In Singapore?
In a divorce, it is important to agree what to do about shared assets and debts, such as one's matrimonial home, as well as responsibility for child costs.

If the couple undergoing divorce has a child, the maintenance of the child is usually settled together with the proceedings, together with other ancillary matters.As long one party has successfully gained the custody of the child the custodian can make the application for child maintenance.However, in exceptional cases, a dependent child above the age of 21 may also be eligible for maintenance if the child suffers from physical or mental disability, is serving or awaits to serve National Service full-time, or is undergoing studies or training for a vocation.When it comes to child maintenance, the court takes into account several factors before narrowing down the maintenance fee, including standard living of the family, financial needs of the child, earning capabilities of the parents, and if the child has physical or mental disability or not.

According to the Women’s Charter, matrimonial assets have to be divided between the two parties.Read Also: Your Step-By-Step Guide To Making Your CPF Nomination Online According to Women’s Charter, the court can order a man to pay maintenance to his ex-wife during or after divorce proceedings.

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