Woodcock v Woodcock (No 2)

In Woodcock v Woodcock (No 2), the parties were involved in a dispute concerning the valuation of the husband's interests under several trusts. The case was heard in the Family Court of Australia. The husband sought to determine the value of his interests in four trusts, namely The B Trust, The F Trust, The E Trust, and The Mr G (1977) Family Trust. The legal issues that arose included whether the husband's interests in these trusts were capable of valuation and whether they constituted property for the purpose of a proceeding for the alteration of property interests under the Family Law Act 1975 (Cth).

The court considered the expert evidence provided by Mr T, who concluded that the husband's rights were capable of being valued both before and after the amending deeds. The court held that the husband's interests in the trusts were in fact and in law "property" within the meaning of the Act. The court accepted that the husband's rights were capable of valuation despite the presence of uncertainties regarding future benefits, earnings, and distributions. The husband's significant level of influence and control over the trustee's decisions further supported the conclusion that his interests constituted property. The court found that the husband's interests in the trusts were capable of valuation and constituted property, as defined in s 4(1) of the Act.

The court determined that the husband's interests under the relevant trusts were capable of valuation and constituted property for the purpose of a proceeding for the alteration of property interests under s 79 of the Act. The court's decision was based on the expert evidence provided and the High Court's principles on the nature of property. The court's reasoning and conclusion provided clarity on the valuation of the husband's interests in the trusts, which would be essential for any future proceedings related to the alteration of property interests.