What Information Should You Disclose In A Family Law Matter?

Key Takeaways:

• Full and frank disclosure is mandatory in both financial and parenting matters, requiring parties to provide all relevant information and documents.
• Specific documents required include tax returns, superannuation statements, financial statements for businesses and trusts, and records of property disposals, among others.
• The duty of disclosure is ongoing, and you must update the court and other parties as your financial situation changes or as new documents come into your possession.
• Failing to comply with disclosure obligations can lead to serious consequences, including the dismissal of your case, costs orders, or even penalties for contempt of court.

Understanding the Duty of Disclosure 

The duty of disclosure in NSW family law matters requires all parties to be transparent and forthcoming with all relevant information and documents related to the case. This duty begins at the pre-action stage and continues until the case is concluded. The underlying principle is to ensure fairness and equity in the resolution of family disputes, allowing the court and all parties involved to make informed decisions.

Financial Matters

In financial cases, full and frank disclosure encompasses a wide range of documents that paint a complete picture of each party’s financial circumstances.

This includes, but is not limited to:

1. Copies of tax returns and notices of assessment for the past three financial years.
2. Copies of superannuation member statements for each superannuation interest in your name. If you have an interest in a self managed superannuation fund, a copy of the trust deed for that fund and copies of the financial statements and tax returns for the fund for the past three years.
3. If you have an interest in a partnership, a copy of the partnership deed and financial statements and tax returns for the partnership for the past three years.
4. If you have any interests in a publicly listed company, copies of the share statements relating to each of those interests for the past 12 months.
5. If you have any interests in a company not publicly listed, a copy of the company’s constitution, a copy of the financial statements and tax returns for that company for the past three financial years.
6. If you have any interest in a trust as beneficiary, trustee or appointor, a copy of the trust deed and copies of the financial statements and tax returns for the trust for the past 12 months.
7. If you have disposed of any property in the 12 months preceding separation or since separation, documents evidencing that disposal.
8. If you receive a wage or salary, copies of your three most recent payslips.
9. If you own or control a business, copies of the business activity statements for the past 12 months.
10. Copies of statements for each bank account, credit card and loan in your name or in which you have any interest for the past 12 months.

As the case advances, it is imperative to reveal any alterations in your financial status, including changes in income, asset disposition through sales, gifts, transfers, or other methods, as well as increases in debts. This encompasses any and all modifications such as inheriting assets, winning the lottery or other sudden financial gains, and experiencing significant financial losses. 

Parenting Matters

Parenting cases require the disclosure of any information relevant to the welfare and best interests of the child(ren) involved. Documents might include medical reports, school records, and other evidence that supports each party’s case regarding parenting arrangements.

Legal Forms and Procedures

Compliance with the duty of disclosure involves the filing of specific legal forms, such as a Financial Statement and, if necessary, an affidavit providing additional details. Amendments to these documents must be filed if there are significant changes to your financial situation.

Seeking Legal Advice

Given the complexities surrounding the duty of disclosure, obtaining legal advice from experts in family law is paramount. Penrose Lawyers specialises in providing tailored advice to ensure you meet all your legal obligations and safeguard your interests throughout the legal process.

For additional resources and legal support, consider visiting Federal Circuit and Family Court of Australia.

Conclusion

Fulfilling your duty of disclosure is a critical aspect of navigating family law matters. By providing complete and accurate information, you contribute to a fair and efficient resolution of your case. Should you find yourself overwhelmed or uncertain about your disclosure obligations, Penrose Lawyers is here to offer expert assistance and guidance. Reach out to us for professional advice tailored to your unique situation.

Frequently Asked Questions