Stephens and Stephens and Ors

The appeal and cross-appeal concerned the division of property and the application of section 75(2) factors in a family law matter. The parties involved were the appellant/cross-appellant husband and the respondent wife. The dispute centred on whether adjustments should be made to the property division based on the parties' respective circumstances after an initial assessment of contributions.

The primary legal issues before the court were whether the trial judge erred in their assessment of the parties' contributions and, consequently, whether any adjustment under section 75(2) of the *Family Law Act 1975* (Cth) was warranted. Specifically, the court considered the wife's submission that an adjustment should be made in her favour due to her continued care of the child Z, and the husband's submission that an adjustment should be made in his favour due to the disparity in income and earning capacities.

The court reasoned that the wife's submission for an adjustment based on her care of Z was offset by the disparity in the parties' respective incomes and earning capacities, particularly when the property division was factored in. The court found no basis for any adjustment under section 75(2) factors, concluding that the circumstances of the wife having care of Z were balanced by the income and earning capacity differences. The husband's arguments regarding his retirement, reduced income, and potential benefit from trust assets were considered within this context.

The appeal and cross-appeal were dismissed. The appellant and cross-appellant husband were ordered to jointly pay the respondent wife's costs of and incidental to the appeal and cross-appeal, to be assessed in accordance with the *Family Law Rules 2004* (Cth) in default of agreement.