Full and Frank Financial Disclosure

There is an obligation on both parties to a family law dispute to provide full and frank disclosure of all information and documentation relevant to the matter. This obligation is set out in rule 13.04 of the Family Law Rules and a similar provision is set out in rule 24.03 of the Federal Circuit Court Rules. The rules require disclosure of documents including income, assets, liabilities and financial resources. The information can be in the form of paper documentation or electronic records.

 The obligation to provide disclosure commences during the pre-action stage and continues throughout the proceedings until the matter is finalised. Therefore, if circumstances change, parties may be required to provide updated information and documentation. It is important that both parties provide full and frank disclosure to ensure that the matter can progress in a timely and cost-effective manner.