The Split After The Split – Part 2

The Split After The Split - Part 2 Article By: PracticeForte Advisory Affiliate Ms. Susan Tay of OTP Law Corporation. Explaining Fair and Equitable Division of Matrimonial Assets-Global Assessment Method for Long, Single-Income MarriageJust when we thought the law is fairly settled after ANJ v ANK [2015] SGCA 34, our apex court concludes in a recent case of TNL v TNK [2017] SGCA 15 that the approach in ANJ will not work for a single income family as it tends to favour the working spouse over the non-working spouse. In the ANJ approach, financial contributions are given weight in both steps. To recollect, the steps stated in the ANJ approach are as follows:1st Step, work out the proportion of direct contributions (cash paid directly toward the acquisition of assets)2nd Step, work…

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The Split After The Split – Part 1

The Split After The Split - Part 1 Article By: PracticeForte Advisory Affiliate Ms. Susan Tay of OTP Law Corporation This is the first of 2 articles to help explain how our courts distribute matrimonial assets fairly and equitably after a marriage ends. Part 1 focuses on dual income families where both spouses worked during the marriage and contributed financially to the acquisition of their matrimonial assets.We cannot deal with this subject without dwelling into the 2015 court of appeal case of ANJ v ANK [2015] SGCA 34. In ANJ, the couple who were married for 9 years, both worked and contributed financially toward the acquisitions of their matrimonial assets. They had 2 young children, 12 & 8.This case seals our apex court’s…

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