The importance of financial disclosure in family law

Financial disclosure is an important first step when sorting out your property settlement. Financial disclosure allows you and your former partner to have a full understanding of each other’s financial circumstances. 

The rules of disclosure ensure that family law proceedings can be fair, efficient and transparent, and aims to prevent parties from trying to hide assets or money. 
 

Who has this duty of financial disclosure? 

The duty of disclosure is imposed upon each party in financial proceedings. See sections 71B and 90RI of the Family Law Act. 
 

What do you mean by full and frank financial disclosure? 

This means that you need to be honest and upfront about your financial situation. The rules outline that each party has a legal obligation to provide each other with all documents relevant to their financial circumstances. It includes all relevant information known to you, and all relevant financial documents that are in your possession or under your control;  whether they are physical documents or documents stored electronically. 

What documents do I need to provide? 

Rule 6.06 of the Family Law Rules provides a non-exhaustive list of what you need to provide. You should speak to a lawyer about how you can get started with collating these documents. 

If you think something is relevant but your former partner hasn’t asked for it, you still need to disclose. If you have a document or information that might be detrimental for your case, you still need to disclose. 

The obligation of disclosure is positive and ongoing, and documents need to be provided in a timely manner. 

When does financial disclosure start? 

The duty of financial disclosure commences when you start engaging with the pre-action procedures. Early disclosure helps you have a better understanding of the assets and liabilities so you can start working towards a resolution as soon as possible. 

Why do I need to disclose even if we’re not going to Court? 

It helps parties negotiate in a fully informed manner. If you don’t know what property is in the pool, how can you negotiate efficiently and fairly? 

What if my financial circumstances change mid-way through the process? 

The duty of disclosure is ongoing. You need to tell your former partner about any material changes to your financial circumstances. 

What if I have sold some assets? Do I need to tell my former partner? 

Yes. If you have sold assets since final separation, you need to disclose those transactions. Likewise, you need to disclose the sale of assets that took place 12 months prior to the final date of separation. 

Does it include property overseas? 

Yes, you need to disclose all property, whether it is in Australia or overseas. 

What does disclosure not include? 

You don’t have to provide any documents that are protected by privilege, that you have already provided to your former partner, or that are irrelevant. 

How do I know if a document is relevant? 

We suggest speaking to a lawyer about this as each situation is unique; what is relevant in your situation may not be relevant for someone else. 

What if I don’t disclose? 

The failure to disclose can result in serious legal consequences: 

• If the failure to disclose is discovered after final orders have been made, your final orders can be set aside. 

• The court might not let you admit any undisclosed documents into evidence at a later date; 

• Your matter may be stayed or dismissed; 

• You can have costs orders made against you; 

• You can be fined or convicted of contempt of court; or 

• If the failure to disclose is discovered after final orders have been made, your final orders can be set aside. 
  

Information accurate as of 19 August 2026. The information above is not legal advice. If you have a legal issue, please get specific legal advice.