Truman & Truman

Mr Truman and Ms Truman were married for approximately 20 years and had two children. The dispute concerned the division of their property and superannuation interests following their separation. The Family Court of Australia was required to determine how to equitably distribute the parties' assets and liabilities, considering their respective contributions and future needs.

The court was tasked with determining the parties' property interests, including the former matrimonial home, a boat, various trust entities, and superannuation entitlements. A key issue was the valuation and division of the husband's superannuation, specifically his entitlement in the Colonial First Choice Super Account. The court also had to consider the application of principles regarding the "adding back" of non-existent property, as discussed in *Bevan & Bevan*, and the overall just and equitable outcome in light of *Stanford & Stanford*.

In its reasoning, the court applied section 79(4) of the Family Court Act 1975 (Cth) to assess the parties' contributions, both financial and non-financial, to the marriage and the acquisition, conservation, and improvement of their property. Further adjustments were made pursuant to section 75(2) of the Act, considering factors such as the parties' age, health, income-earning capacity, and the needs of the children. The court ordered the transfer of the wife's interest in the "J property" to the husband, coupled with a significant payment from the husband to the wife. The husband was also to be indemnified from the mortgage on the Balmoral property. A superannuation splitting order was made, allocating a base amount of the husband's Colonial Super entitlement to the wife. The husband was also declared the owner of certain trust entities, with an indemnity provided to the wife. The Truman Family Superannuation Fund was to be wound up and its proceeds distributed equally between the parties. The court also made specific orders regarding life policies for the children and the distribution of proceeds from a forestry investment. The Registrar was appointed to execute documents if necessary to give effect to the orders.