Can the other party succeed in hiding assets during our property settlement?

Oftentimes in property settlement matters, our clients are worried that the other party is hiding assets.We have a good experience in these cases so we can advise what you have to do. Keep reading to find our recommendations.

Can the other party succeed in hiding assets during our property settlement?

Oftentimes in property settlement matters, our clients are worried that the other party is hiding assets.We have a good experience in these cases so we can advise what you have to do. Please rest assured that there are legal obligations for the other party to disclose all assets through full and frank disclosure.

What is full and frank disclosure?

In family law, both parties have an obligation of ‘full and frank’ disclosure, which means they are required to provide documents surrounding their financial circumstances to assist in the case and to understand what the property pool is.

What happens if the other party does not provide full and frank disclosure?

If a party is withholding bank statements, we can send correspondence to remind them of their obligations, and also to remind them that if the matter was to proceed to court, these records can be subpoenaed. Once that is done, the other party usually complies with the obligation and the matter can proceed forward.

If you have any further questions or concerns regarding the other party withholding assets in your property settlement, call us on 07 2113 4645 so we can schedule your initial consultation.

Property

Tags: