DIVORCE - WHAT ARE FINANCIAL ANCILLARY RELIEFS
If you and your spouse have agreed to a financial settlement, or if you and your spouse failed to come to an agreement and the court has to make its decision on financial matters, it will be recorded as a binding Court Order. The financial settlement is usually regarding properties, bank accounts, CPF money, investments and maintenance.
The Court Order that deals with financial orders is sometimes recorded as part of an Interim Judgment and sometimes in a Court Order.
The Court Order or Interim Judgment that deals with financial matters is a binding Order issued by the Court and parties must comply with the terms.
Financial settlement are referred to as ‘ancillary relief’ because they are financial relief ‘ancillary’ (or supplementary to) the divorce itself.
If you and your spouse are able to reach an agreement on divorce and agree on issues relating to children and financial matters, then you are entitled to file for a Simplified Uncontested Divorce. The advantage of this is that your divorce case is concluded quickly, you pay substantially less legal fees and there is none of the stress involved as compared to a contested divorce.
Our fees for a Simplified Uncontested Divorce is either $1,500, $2,500 or $2,900 depending on your situation. See our Uncontested Divorce Fee Packages below.
If you and your spouse are unable to reach an agreement, and you file for divorce, the divorce is termed as a “Contested Divorce.” It frequently happens that half way through the Contested Divorce, you and your spouse finally reach an agreement. This agreement will then be recorded as a Court Order.
If you and your spouse are not able to reach an agreement, then the court will make a decision. The court makes it decision on financial matters based on the factors set out in section 112(2) of the Women’s Charter and also based on case law.
Another major factor will be the length of the marriage – the longer the marriage, the greater likelihood that assets will be divided 50-50 even if the wife did not contribute financially to the assets. Generally speaking, marriages which have lasted less than 6 years are considered short. Marriages that have lasted 7 to 14 years are seen as falling into a ‘medium’ category and any marriage which lasted more than 15 years may be considered longer marriages.
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