LEGAL TINGS | A PODCAST ABOUT ALL THINGS LAW AND LEGAL.

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Case Example! Parental involvement to protect assets in a divorce

1️⃣ Unraveling Divorce Drama: Amid a divorce, a surprising twist as the husband's father seeks a court order to claim $740,000 in matrimonial assets.
2️⃣ Source of Claim: The father argues $660,000 is from property sales, plus an additional $80,000 inherited from his late mother.
3️⃣ Property Transfer Twist: Father claims transferring properties helped son with mortgage troubles; however, no explanation for letting son keep a portion of the sales.

Counterclaims: Ex-wife disputes, asserting the son never disclosed holding any property or money on behalf of his father during their marriage.

The Court then demands proof for anyone claiming a beneficial interest in a property. With no documentation, the Court rules the father has no stake in the properties under his son's name. 

#singaporelawyer #familylaw #matrimonialassetdispute #hidingasset #parentalinvolvement
Did you hear about this tactic to safeguard one's assets?

A common strategy involves parents claiming extended loans to their child, and seeking repayment during divorce settlements. 

For such strategies to succeed, there are strict requirements:

1️⃣ Bank Records as Evidence: Proof that the loan was transferred during the marriage.
2️⃣ Regular Repayments: Records showcasing consistent repayments by the child.

Without meeting these conditions, the court often deems the money as a gift, eliminating the need for repayment from the shared marital pool. 

#singaporelawyer #familylaw #divorceinsingapore #protectingassetsinadivorce #matrimonialassets

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