FAMILY LAW IN NSW You are a Judicial Registrar of the Federal Circuit and Family Court of

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Question:

FAMILY LAW IN NSW

You are a Judicial Registrar of the Federal Circuit and Family Court of Australia. David and Joyce's matter has been listed before you for a Conciliation Conference, which is a conference where you try to assist them to settle their property division (for the purpose of this question, assume that the financial agreement was agreed to be set aside by consent and both parties agreed to file in Court).

You have reviewed the file prior to the conference, and you will be required to give your view as to likely range of outcomes the parties might expect to receive in a property distribution pursuant to s79 of the Family Law Act 1975 if the matter proceeded to a final hearing.

Provide your view in writing as to:

What a just and equitable property division between David and Joyce would likely be, and outline the 5 steps the Court takes to make that determination, by going through the 5 step process, in detail.

Refer to the principles, legislation, and case law in your answer (and assume for the purpose of this portion of the question, that the financial agreement is found not to have been binding on the parties).

You will need to identify the assets, liabilities, superannuation, and financial resources of the parties. You may create Balance Sheet in table format for the assets, liabilities, financial resources and superannuation, and columns for the value of each item and whether it is owned jointly, or individually by Joyce or David. You must provide your calculation as to the equity of the property pool.