Duty of Disclosure: Part One

In Family Law property matters, parties are required to make a full and frank disclosure of relevant financial circumstances.  As matters progress, orders are made and Court documents are sworn based on this disclosure, so it is not a duty to be taken lightly.

What do you have to disclose?

The answer to this question is fairly broad, as any information relating to your financial circumstances may be relevant. Types of documents to disclose include, but are not limited to:

• Income Tax Returns and Notices of Assessments for the previous three years
• Details and records of any investments in real estate, stocks and shares
• Details and statements for any bank accounts held for the last 12 months
• Valuations of property such as cars, trailers and caravans.

It’s important to keep in mind that the duty of disclosure continues throughout your matter, and any changes to your financial position must be disclosed.

What happens if you fail to disclose?

Failure to fulfill the duty of disclosure can seriously prejudice your case and may even result in an order for you to pay the other parties’ legal costs. In some cases, your lawyer may even be prevented from continuing to act for you.

To speak with an experienced legal practitioner about your family law matter, please get in touch.

You can read more about the duty of disclosure when a dispute involves parenting matters here.

*The legal information in this article is of a general nature only and not intended to be legal advice to rely upon.