Schmidt & Schmidt

The case of *Schmidt & Schmidt* concerned a dispute between a husband and wife regarding the division of their property. The matter came before Watts J in the Family Court of Australia.

The court was required to determine the appropriate orders for the division of the former matrimonial home, known as the V property, and the husband's superannuation interests in the SAS Trustee Corporation Pooled Fund. The court also needed to address the distribution of other assets and liabilities between the parties.

Watts J made orders pursuant to section 79 of the *Family Law Act 1975* (Cth). The orders provided for the husband to pay a sum of money to the wife, and contemporaneously, the wife was to transfer her interest in the V property to the husband. In the alternative, if the husband failed to make the payment, the V property was to be sold, with the net proceeds distributed in a specific manner, including a 67.6% share to the wife before the discharge of any encumbrance. The court also made detailed orders concerning the husband's superannuation, entitling the wife to 10% of "category 1 splittable payments" (made before the husband turned 60) and 35% of "category 2 splittable payments" from the SAS Trustee Corporation Pooled Fund, with corresponding reductions to the husband's entitlement. The court dispensed with formal notice requirements to the trustee and restrained the husband from commuting his pension without the wife's consent. Each party was declared solely entitled to other property in their possession, with specific provisions for bank accounts, insurance policies, and motor vehicles. Each party was to be solely liable for and indemnify the other against liabilities encumbering property they received. The Registrar of the Court was appointed to execute any necessary documents if a party refused to do so.