This was a Family Law matter about #Property Settlement in relation to a marriage, where the parties seek orders for an adjustment of the matrimonial property.
ISSUE Although the parties agree that an adjustment should be made in favour of the wife, they disagree as to the size of that adjustment and how much of it should be derived from non-superannuation versus superannuation assets.
FACTS After 20 years of marriage the parties separated with each of them now in their 50's. The wife has made a greater homemaker and parenting contribution during the marriage and the husband has made a greater financial contribution. The Court finds that the parties contributions have been equal, apart from a financial contribution made on behalf of the husband in the form of a monetary gift from his parents.
Where the husband has a sizeable loan to his sister, the Court finds that the parts of that loan attributable to payment of the husband’s legal fees and child support obligation should not be included as a joint liability.
The Husband sought a 40% share of the Asset Pool and the Wife sought a 70% share so the disputed amount was 10%.
Orders made for the wife to receive 66.6 per cent of the matrimonial asset pool.