Family Law Duty of Disclosure
Full and frank financial disclosure is a cornerstone of family law property matters.
A reluctance to disclose or a misunderstanding about what to disclose is not uncommon.
Both sets of Court Rules, The Family Law Rules in the Family Court of Australia and the Federal Circuit Court Rules in the Federal Circuit Court of Australia set out the various rules in relation to financial disclosure. It is important to remember that disclosure is an ongoing process throughout the matter. The possible implications of failing to disclose can be severe and have major implications for a party. As stated by the Full Court in the marriage of Kannis (2003) 30 Fam LR 83, whether a failure to disclose is purposeful or accidental is “beside the point”.
Costs Orders and adjustment of entitlements are some but not all of the consequences of failure to disclose.