What factors will the Court consider in dividing your matrimonial assets?
LawGuide
The Court will divide / apportion your matrimonial assets in a fair manner after considering a range of factors.
These factors include:
Contributions made by you and your spouse towards acquiring, improving or maintaining the matrimonial assets (e.g. income and capital investment).
The more contributions to the asset acquisition, the more the Court is likely to award.
At the very least, one party’s greater amount of contribution would justify a greater proportion being awarded to that party.
Debt owed or obligation incurred / undertaken by you and your spouse for the joint benefit of the both you or your children.
The Court may reduce the amount awarded to one party by the amount of the debt that was incurred by that party.
Needs of your children.
For example, the Court may feel that the needs of your children should take priority over the dividing of the matrimonial property because the Court recognises that the needs of your children are paramount. In such a situation, the Court may order that your children be allowed to live in the matrimonial property until the youngest child is 21 years old before the matrimonial property will be divided.
Contributions made by you and your spouse towards the welfare of your family (e.g. homemaker, caregiver for children / dependents).
In this way, the Court will recognise the non-financial contributions of the homemaker who helped to create and maintain a positive home environment.
Agreement between you and your spouse relating to the ownership and division of the matrimonial assets made in contemplation of divorce (e.g. prenuptial agreement, postnuptial agreement or Deed of Separation).
Whether a prenuptial agreement will be recognised by the Court will depend on the unique facts of each case.
Period of rent-free occupation (or other benefit) enjoyed by you or your spouse in the matrimonial home to the exclusion of the other party.
Assistance or support (financial and non-financial) given by you or your spouse to the other party
This includes the assistance or support given by you or your spouse which has helped the other party carry on an occupation or business.
Amount of maintenance paid to the husband’s former wife.
