Does it make a difference whether a significant asset is in my name or my spouse’s name? - Rayner Song Family Lawyers

In most cases, all assets, debts and financial resources of the spouses are potentially “up for grabs” regardless of whether a particular item is only in one person’s name or in joint names. This does not mean that a particular asset that is in one spouse’s name will definitely be divided with the other, but the value of that asset is usually considered when deciding the overall property pool.

You should not assume that an asset will be “quarantined” and protected from division merely because it is registered in your sole name or was acquired prior to marriage.

It is important to preserve as much of the asset pool as possible to ensure that you will actually receive a just and equitable settlement. Sometimes, even jointly owned assets (such as savings) can be disposed of by one spouse without the other’s spouse’s knowledge. You should not assume that an asset can be clawed back once it has been disposed of by your spouse. At an initial consultation, we will give you advice about how to lock down assets and protect your interest.

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