Every now and then a client will say something along the lines of “I’ve heard that it is 5% extra of the property per child”. I am not sure where this perception has come from – because such a “rule” does not exist.
In the case of Chan & Chih the Full Court of the Family Court overturned a trial Judge’s decision to give the Wife an adjustment of an extra 5% of the property pool, due in part to the ongoing care of the two children of the relationship.
The Full Court said that the facts of the matter did not support such an adjustment. The Full Court said “Certainly, the financial responsibilities for the children are a highly relevant factor, but the children were aged 16 and 13 years … and the husband was paying child support as well as providing additional funds.”
The adjustment – which in that matter amounted to over $400,000 – was overturned.