Full and Frank Disclosure
Full and frank disclosure means you and the other party must openly share all relevant financial information during your family law matter.
You are required to provide honest, complete, and up-to-date documents so decisions about property, parenting, or support can be made fairly. This duty applies from the very beginning of your case and continues until it ends.
What Does Full and Frank Disclosure Mean?
Full and frank disclosure is your obligation to reveal every piece of financial information that affects your matter. This isn’t limited to documents you think are important.
You must share anything that paints an accurate picture of your financial position, including assets, income, debts, liabilities, and financial resources.
This duty is designed to prevent one person from hiding information that could influence the outcome of negotiations, mediation, or court proceedings.
Whether you are the applicant or respondent, you both owe the same duty and must be transparent throughout your entire matter.
Key takeaway: You must be completely open about your financial information, even if you think something is minor or unimportant.
Why Full and Frank Disclosure Matters in Family Law
When you’re going through separation, your financial landscape may feel overwhelming. Full and frank disclosure allows everyone involved to start from a place of accuracy and fairness. Without proper disclosure, you risk delays, additional costs, and even penalties.
Your lawyer, mediator, or the court can only work with the information you provide. If something is missing or intentionally withheld, negotiations can break down. The court can draw negative inferences, make orders for costs, or even set aside agreements that were reached without proper disclosure.
Key takeaway: Providing complete information helps protect your interests and reduces the risk of setbacks or negative outcomes.
What You Need to Disclose
The duty requires you to disclose anything relevant to your financial position. This often includes:
Financial Statements and Tax Records
You must provide tax returns, income statements, and notices of assessment. These documents show your earnings over time and confirm whether there are any discrepancies.
Bank and Credit Card Records
Your personal and shared accounts reveal spending patterns, savings, and debt. Even accounts you rarely use must be provided.
Property and Real Estate Interests
If you own property, even overseas or jointly with family members, you are expected to disclose title documents, valuations, and mortgage information.
Loans, Debts, and Liabilities
You need to show any debts in your name, including private loans, business liabilities, or money borrowed from relatives.
Business or Company-Related Documents
If you run a business, you must disclose profit and loss statements, balance sheets, BAS statements, and other financial records related to the business.
Superannuation
Super balances and any documents relating to your interests must be shared, including funds that are not yet accessible.
Key takeaway: Anything tied to your finances must be disclosed, regardless of how minor it appears.
When You Must Provide Disclosure
Your duty starts before you file anything with the court and continues all the way until the matter is finalised. You may need to update documents as your financial situation changes. For example, if you receive a bonus, purchase property, or close a bank account, you must provide new information promptly.
You’re also expected to comply with any specific disclosure deadlines or court directions. Delays can affect timetables and lead to additional costs.
Key takeaway: Disclosure is ongoing. You must keep updating documents whenever your circumstances change.
What Happens If You Do Not Provide Disclosure?
Failing to meet your disclosure obligations can lead to significant consequences. The court may:
- Order you to pay the other party’s legal costs
- Postpone hearings until disclosure is completed
- Make orders based on an assumption that your undisclosed information is unfavourable
- Set aside any final orders or agreements made without proper disclosure
If non-disclosure is intentional, the penalties can be even more serious and may affect the final split of property.
Key takeaway: Non-disclosure can work against you and may result in costly or long-term consequences.
How Proper Disclosure Supports Fair Outcomes
When both parties provide honest and complete disclosure, negotiations tend to run smoother. You’re more likely to reach an agreement through mediation or private negotiations, which helps you avoid the time and stress of litigation.
With transparency, you and the other party can plan for a settlement that reflects your real financial picture. This makes the process more manageable and reduces unnecessary conflict.
Key takeaway: Being transparent supports more efficient negotiations and clearer outcomes for your future.
