In family law property settlements the legislation is quite clear that each party is required to give “full and frank disclosure”. This might sound a bit foreign to most people but the concept is actually quite clear.

To be perfectly clear, what the obligation means is that any document that any party has that is relevant to the property settlement, a copy needs to be sent to the other party.

The obligation is not limited to the documents set out the Family Court Brochure “Pre-action Procedures for Finanical Matters” which sets out a list of documents that may be required in financial matters.

This can be quite an onerous requirement as usually one party to the relationship has a majority of the documents as they have been the one who has taken care of the finances during the relationship.

It is important that any person who is involved in a family law property settlement is conscious of this fact. If parties are not “full and frank” in their disclosure it can lead to premature Court proceedings and in a worst case scenario Orders that you are to pay the other parties legal fees for the Court proceedings.

It is vitally important that when you are asked to bring in all documents, that you use your best endeavours to locate and gather all documents that you have in your possession or control and hand them to your solicitor.

It is always better to provide your solicitor with too much information and let them sort out what is relevant and what is not relevant. That’s what you pay them for!

When it comes to determining what is “property” in family law matters, the Family Law Act and the courts interpret the term very broadly. While most people consider “property” as being, the family home, motor vehicle and furniture, the scope is much wider and may include interests in business, shares, redundancy payments, superannuation, inheritances and even assets that you may have acquired prior to your marriage.

At times, when recognising the broad interpretation of “property,” people can make the mistake of thinking that such items in the property pool can be hidden from the other party through the instigation of a company or trust. This is a big mistake.

When it comes to considering “property,” the law is complex.

Accordingly, it is very important to protect your rights and McNamara Law are family law experts and can help you in this regard.

The Family Law Act states that a person has a responsibility to financially assist their spouse if the spouse’s income or assets fall short of meeting their reasonable expenses.

Importantly, this responsibility may well continue for a considerable period after separation and divorce.

In determining the extent of this assistance, both the needs of the person seeking support and the capacity of the other to assist is taken into consideration. This is why when you’re considering separation and divorce, you need to seek legal advice that can assist you in understanding the full potential financial impact.

Accordingly, McNamara Law practice  family law in Ipswich and can help you in this regard.