Piper and Piper

In *Piper and Piper*, Benjamin J determined property settlement orders between a husband and wife who married in May 1973 and separated in January 2006, after a marriage of approximately thirty-two and a half years. The parties have two adult children. The wife is employed part-time, earning approximately $509 per week, while the husband is employed in finance, earning approximately $1,206 per week. The wife has remained in the former matrimonial home since separation and has met the associated outgoings.

The court was required to determine the just and equitable division of the parties' property and financial resources. This involved identifying and valuing their assets and liabilities, assessing their respective contributions to the marriage, and considering other relevant factors, including the financial circumstances of each party, pursuant to section 75(2) of the *Family Law Act 1975*. The court applied the preferred four-step approach to property matters, which requires findings on the identity and value of property, assessment of contributions, consideration of other relevant factors and section 75(2) matters for adjustment, and finally, the resolution of what orders are just and equitable.

The court's reasoning led to a series of orders aimed at achieving a fair distribution. These included the wife paying a sum of money to the husband and receiving his interest in the former matrimonial home, subject to her indemnifying him for the outstanding mortgage. The husband was ordered to transfer his interest in certain vehicles, the wife's inheritance, and her fixed deposit to the wife. Conversely, the wife was to transfer her interest in the husband's utility vehicle and their jointly owned yacht to the husband. Furthermore, specific orders were made regarding the splitting of the husband's superannuation interest in S Fund, with 51% to be paid to the wife. Each party was otherwise to retain property in their possession, with bank accounts and superannuation entitlements to be treated as belonging to the party whose name appeared on the record or as disclosed during the hearing, except for the specified superannuation split.