Martello & Martello

In *Martello & Martello*, the applicant husband and respondent wife presented arguments concerning the valuation of the husband's 25% interest in a unit trust, specifically whether a discount for a minority interest should be applied and, if so, at what rate. The court was also required to assess the parties' contributions to the marriage and consider adjustments under section 75(2) of the *Family Law Act 1975* (Cth). Additionally, the wife sought spousal maintenance for a period of three years.

The court determined the parties' contribution-based entitlements to be 75% in favour of the husband and 25% in favour of the wife. An adjustment of 8.5% was made in favour of the wife under section 75(2) of the *Family Law Act 1975* (Cth). Regarding the wife's claim for spousal maintenance, the court found that she was capable of adequately supporting herself in the future, and consequently, this application was dismissed.

The court's reasoning for the contribution assessment acknowledged the wife's role as the primary parent and homemaker throughout the relationship. While the husband also contributed in these capacities when his business activities permitted, the court noted the significant financial and income disparity post-separation. The husband's superior financial position enabled him to contribute more to the children's expenses, including private school fees, health insurance, and activities during his time with them. The court also considered the husband's continued financial support for the wife, estimated at over $126,000, covering expenses such as motor vehicle costs, private health insurance, and property expenses. The wife's continued residence in a property rent-free was viewed as a non-financial contribution by the husband. The court also took into account the wife's cohabitation with her new partner and the mutual financial support they provided each other. The court found the overall pool of assets to be larger than initially contended by the husband.

The proceedings were adjourned for the pronouncement of orders and further submissions on 12 May 2021, with the parties to formulate minutes of orders that achieved justice and equity consistent with the court's judgment.