Divorce used to be a taboo topic, but it has now become a reality in the modern world.
Given that your spouse is intimately involved in your financial life, it will necessarily impact your finances in circumstances of separation.
These are 6 important financial aspects to think about in the event of a breakdown in marriage.
This article was written by a Financial Horse Contributor.
- Joint assets owned as a Couple in Singapore
Probably the biggest impact of divorce is the matrimonial home – usually under joint ownership.
This is usually the primary asset, and a big contention in divorce.
Source: MSF website
Other often overlooked aspects include joint bank accounts, supplementary credit cards, and GIRO arrangements.
These are some aspects that jointly involve both parties, that may need to be un-entangled:
Source: MSF website
- Seeking professional help
A divorce can be extremely mentally and financially taxing.
Seeking professional help to get informed opinions on your rights, and the...
