Grey Divorce in Singapore: 3 Key Considerations

Divorce among individuals over 50, commonly known as "Grey Divorce," is steadily increasing in Singapore. Statistics from the Singapore Department of Statistics (DOS) show that divorce rates have been rising, with a notable portion of cases involving couples who have been married for 20 years or more.

As Singapore’s population ages, more couples who have spent decades together are choosing to part ways. In 2022, the median age at divorce for women was 41.5 years, and for men, it was 44.8 years, both of which have increased compared to past decades. This trend highlights the growing prevalence of divorce in later life. Grey divorce comes with its own set of legal and financial challenges, which must be carefully navigated, especially as retirement approaches.

Here are some key factors to consider if you are facing a grey divorce in Singapore:

Division of Assets

In long-term marriages, dividing assets can be complicated despite whether when one spouse has been the primary earner and the other has focused on homemaking or raising children or if both parties have been working throughout the marriage. Properties, retirement savings (such as CPF), investments, and businesses must be fairly divided.

For older couples nearing or in retirement, the financial impact of maintaining two separate households after a divorce can be significant, making it crucial to reach a clear and equitable settlement.

In Singapore, the court aims to achieve a fair division of matrimonial assets, considering factors such as contributions to the marriage (both financial and non-financial) and the needs of each party moving forward. Seeking legal advice early in the process can help ensure your rights are protected.

Wills, Estate Planning, and CPF Nominations

If you're undergoing a grey divorce, it's important to review and update estate planning documents, including your will, CPF nominations, and insurance policies. In Singapore, divorce does not automatically revoke a will or CPF nominations, so it's essential to ensure that your wishes are accurately reflected in these documents post-divorce.

If your ex-spouse is named as a beneficiary or executor in your Last Will and Testament, consider appointing new individuals to these roles to reflect your current intentions. Lasting Power of Attorney should also be updated, particularly if your former spouse was designated as your Attorney.

Read more: Commonly Overlooked Issues in a Divorce: Key Considerations for a Comprehensive Settlement

Future Financial Security

Grey divorce can have a long-lasting impact on financial security, particularly for women who may have been out of the workforce for extended periods. It's important to consider both immediate needs and long-term financial well-being. For instance, the division of retirement funds (such as CPF savings), home ownership, and future retirement planning are critical elements to discuss during divorce negotiations.

In some cases, divorcing couples might need to maintain joint ownership of assets for a limited time due to practical or financial reasons, such as business interests or family homes. However, it’s advisable to establish clear agreements and exit plans for such arrangements to avoid future disputes.

Read more: Challenges of Grey Divorce for Women Over 50

How GJC Law Can Assist You

We know that each client’s situation is unique. GJC Law offers personalised, empathetic support every step of the way. From your initial consultation through to the final stages of the divorce, we are committed to guiding you with the professionalism and care you deserve.

We offer in-depth legal expertise to ensure that the division of property, retirement savings, investments, and other assets is done fairly, keeping in mind both your financial contributions and your future needs.

At GJC Law, our goal is to protect your interests and help you achieve a fair and equitable outcome. Let us assist you in securing your future as you navigate this new chapter of life.