Wife’s share of assets bumped up to 35% in divorce due to husband’s lack of disclosure
He disclosed a $1.4m payout from a previous company only after her lawyers asked for more information.
A Singapore couple, married from 2004 to 2019 and then from 2021, faced a high court battle over the division of their assets. The wife, who was diagnosed with endometrial cancer, filed for divorce in October 2020 after discovering her husband had not fully disclosed his wealth. Initially, the husband declared an EY Capital Account with $142,000, but after his wife's lawyers requested documentation, he revealed he received a $1.4 million payout when leaving his job at EY. A subsequent judgment on July 27 increased the wife's share of their assets from 32% to 35%.
The wife, a cancer survivor, now receives a lump-sum maintenance of $144,000, paid monthly for two years. She also retained her own $1.5 million in assets, while the husband was ordered to pay her $708,000 from the proceeds of their joint matrimonial flat. The judge valued the matrimonial pool at $7.6 million, including the husband's $4.8 million assets, the wife's $1.5 million assets, and joint assets valued at $1.3 million.
The judge ruled that the flat must be sold, with net proceeds divided 65:35 in the husband's favor. The husband's discretionary trust, valued at $512,000, was also considered part of the matrimonial pool, despite his claims of no longer owning the trust assets.
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