If you have separated from your spouse or defacto partner, you might receive a letter from their solicitor asking you to provide ‘disclosure’ or documents which evidence all of your income, assets, debts, financial resources and superannuation.
The types of documents you might be asked to provide could include:
- payslips or tax returns;
- one or more written valuations on any property you own (i.e. houses and businesses);
- a valuation for all motor vehicles, caravans, boats and other equipment;
- bank statements (for yourself and any business you own);
- share statements;
- superannuation fund statements;
- mortgage statements;
- credit card statements;
- loan statements and agreements;
- hire/purchase statements (Afterpay/ZipPay/Go etc);
- information about any property you have disposed of since separation; and
- any other documentation that would establish the value of any of your assets or liabilities.
It is a requirement that each party to a family law property dispute must make full disclosure of any paperwork relating to any item comprising the asset pool. Whilst you may be asked to supply those documents, your former spouse or defacto partner also has an obligation to provide their own disclosure to you.
In other words, each party must supply documents to the other to prove the extent of any income, asset, liability, superannuation or financial resource.
To discuss all your family law needs, please call our Wangaratta office on 03 5722 4681.
MORGAN COUZENS LEGAL
If you would like to learn more about family law financial settlements, please read our blog below: