RUSSELL & RUSSELL

This case involved an application by the Husband for property settlement, with the Wife also seeking spousal maintenance and child support. The asset pool was a key point of contention, particularly regarding the notional add-back of legal costs and the classification of unvested employment shares as a financial resource. The court was also required to consider various Section 75(2) factors, including the Husband's superior earning capacity and younger age, the Wife's role as primary caregiver, and the parties' respective contributions to the marriage.

The legal issues before the court included whether the parties' legal costs should be notionally added back into the asset pool for the purposes of property settlement, and whether unvested share units stemming from the Husband's employment constituted a financial resource. The court also had to determine the extent of each party's contributions to the marriage, assess the Wife's entitlement to spousal maintenance given her absence from the workforce, and consider the Husband's obligations regarding the child's educational expenses and private health insurance.

The court found that unvested share units were a financial resource. It determined that both parties had made considerable contributions throughout the marriage, and therefore, their contributions were to be considered equal. Regarding spousal maintenance, the Wife was found to be entitled to payments for a period of twelve months due to her hindered employment prospects. The Husband was ordered to pay the child's compulsory tuition fees, charges, and levies, as well as private health insurance premiums at the current level of cover.

The court ordered the Husband to pay the Wife a total sum of $331,200 as a property settlement, acknowledging a prior payment of $105,715. The Husband was also ordered to pay spousal maintenance of $1,863 per month for twelve months. The parties were restrained from dealing with certain properties pending the property settlement payment. The court also made detailed orders regarding the division of real estate, chattels, superannuation, and the management of the Russell Family Trust and Russell Superannuation Fund. The Husband was ordered to pay the child's educational expenses and private health insurance.