When it comes to family law matters such as divorce, child custody and financial settlements, disclosure requires that both parties provide full and frank information about their respective financial circumstances. This includes income, debts, assets, liabilities, and any other relevant information. In Australia, Family Law Courts adhere to this principle which serves to ensure fairness and transparency in proceedings.
What Is the Duty of Disclosure?
The duty of Disclosure is described as, “the process by which each party gives full and frank disclosure about their respective financial circumstances”. It’s important for both parties involved in a Family Law matter to understand their obligations when it comes to disclosing relevant information. Disclosure information includes:
- Income tax returns and bank statements
- Evidence related to property ownership/value
- Credit card statements
- Evidence related to superannuation entitlements or interests\
The Court can ask either party for additional evidence if they feel it necessary at any point during proceedings. Any documents exchanged between parties must be provided before court hearings begin as this helps avoid unnecessary delays. Additionally, witnesses may also be requested/called upon for examination if needed as part of clarification during legal proceedings.
For more information on duties of disclosure, please contact our Family Law Team and speak with Jason Parsons on (02) 4602 0868.