Sardo & Sardo [2023] FedCFamC2F 1015

Sardo & Sardo [2023] FedCFamC2F 1015

Relationship Details

• Type: Marriage
• Duration: Approximately 23 years. The couple commenced a relationship in 1995, began living together permanently in 1999, married in 1999, and separated in January 2022.
• Ages at Judgment: Husband 49, Wife 47

Children

• Children from the Relationship: Two children, X (aged 15) and Mr E. X is in year 9 and has been diagnosed with a sensory processing disorder.
• Living Arrangements: Both children live with the husband. The wife's relationship with them is strained, with limited overnight stays since separation.

Initial Financial Positions

• Husband:

  • Owned property in Suburb H, sold for approximately $55,000.
  • Savings of about $25,000 in a cash management account and $7,000 in a savings account.

• Wife:

  • Savings of approximately $10,000 at commencement of the marriage.

Contributions During the Relationship

• Financial Contributions:

  • Husband owned Suburb H property; proceeds used in purchasing Suburb C property.
  • Wife received significant gifts from her family, especially from her father in 2020 and 2021, totaling around $150,000.
  • Wife inherited $1,573,253 via a testamentary trust from her late father.

• Non-Financial Contributions:

  • Husband contributed significantly to constructing the family home on the Suburb C property, utilizing his skills.
  • Wife was primarily responsible for early childcare and homemaking duties.

Post-Separation Contributions and Actions

• Financial Contributions:

  • Husband continued to service the home loan, paying rates, insurances, and outgoings for the Suburb C property.
  • Took responsibility for the children, particularly Mr E and X, post-separation.

• Non-Financial Contributions:

  • Wife moved initially to hotels and then rental accommodations post-separation.

Current Financial Position & Property Pool

• Current Income:

  • Husband: Approximately $170,000 per annum (including superannuation).
  • Wife: Earns between $108,224 and $116,617 per annum, depending on her role status.

• Property Pool:

  • Suburb C property valued at $1.6 million with a mortgage of $344,829.
  • Wife’s inheritance: $1,573,253.
  • Agreed superannuation amounts, with distribution intended to equalize at 50%.

Assessment of Contributions and Future Needs

• Contributions Evaluation:

  • Non-superannuation asset contributions assessed at 75% to the wife and 25% to the husband due to significant inheritance and gifts.

• Future Needs Adjustments:

  • 7.5% adjustment recognizing primary care responsibility by the husband and disparity in income capacity.

• Final Division: 67.5% to the wife and 32.5% to the husband, effectively translating to the wife retaining non-superannuation assets valued at $2,188,345 and the husband $729,000.

Unique Aspects or Influencing Factors

• Significant contribution by the wife through inheritance.
• The husband's failure to introduce an adversarial expert valuation evidence for the Suburb C property value was a key decision.
• Adjustments reflect the husband's virtually exclusive care for the children post-separation and earning capacity.

Conclusion

The court's decision evaluated detailed financial contributions, non-financial contributions, and future needs adjustments to provide a just and equitable division of assets following a long marriage. The inheritance played a pivotal role, with adjustments recognizing the husband's increased responsibility for children post-separation, leading to a decision that awarded the majority of assets to the wife.