CAMARO & CAMARO

The Family Court of Australia considered property adjustment applications between Ms Camaro (the wife) and Mr Camaro (the husband). The parties had separated after a marriage of approximately six years, during which three young children were born. The primary dispute concerned the division of a modest pool of assets and liabilities, with the wife also seeking spousal maintenance.

The court was required to determine the appropriate division of the matrimonial pool of property, considering the parties' contributions and relevant financial circumstances. It also needed to assess whether an order for spousal maintenance was warranted. The court applied the standard four-step process for property adjustment, which involves identifying and valuing the matrimonial pool, assessing contributions, considering statutory factors for adjustment, and finally, making just and equitable orders.

The court found that the wife was entitled to 55% of the asset pool based on contributions, with an additional 15% adjustment in her favour due to her primary care of the children, who were all under three years of age. This resulted in an overall entitlement for the wife of 70% of the asset pool. The court ordered the wife to pay a lump sum of $21,478 to the husband to give him his proper entitlement. In the event of default in this payment, the former matrimonial home was to be sold, with proceeds to be disbursed first to cover sale costs, then any encumbrances, followed by the lump sum payment to the husband, and the balance to the wife. No order was made for spousal maintenance, as the wife was found to have sufficient income and reasonable prospects of future employment.