in a family law proceedings you are require to make full and frank disclosure
As a party to a case you have a duty to provide to all other parties disclosure of all information and documents which are relevant to an issue in the case. This duty starts with the pre-action procedure before the case starts and continues until the case is finalised.
This means that you must continue to provide information and documents as circumstances change or more documents are created or come into your possession, power and control.
Rule 13.04 requires a party to a financial case to make full and frank disclosure about their financial circumstances. This requires detailed disclosure of:
1. All income or earnings (whether paid direct to the party or not).
2. All interests in any property or in any legal entity (ie. any corporation thatis not a public company, any trust, partnership, joint venture business or other commercial activity) that is fully or partially owned or controlled by the party, including details of any income earned by that legal entity (even if the income is paid to someone else).
3. All financial resources of the party.Any trust where as:
- an appointor; or
- trustee; or
- shareholder and/or director of any legal entity the party has any direct or indirect power or control, including to remove or appoint a trustee or approve or disapprove the amendment of the terms of the trust.
4. Any trust in which the party, the party’s child, spouse or de facto spouse or a corporation of which any of these persons is a shareholder or director is a beneficiary of capital or income.
5. Any property disposal (this may be by sale, transfer, assignment or gift) by the party (including any property controlled by a relevant legal entity referred to in the above paragraphs that may affect, defeat or deplete a party’s claim in a financial case:
(i) in the 12 months immediately before the separation of the parties; or
(ii) since the final separation of the parties except any disposal of property made with the consent or knowledge of the other party or in the ordinary course of business.
6. All liabilities of the party or any relevant legal entity.
NOTE: "Interests" in property or liabilities include "vested" interests and "contingent" interests.
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Disclaimer : This article provides basic information only and is not a substitute for a professional or legal advice. It is prudent to obtain legal advice from a family lawyer.