Sharing financial documents is sometimes a critical step in the financial separation process. But it is not always essential. And the amount of documents you need to share will depend on your particular circumstances. Engaging with a well-qualified mediator early on will help you make sure you share the amount of documentation that is right for your situation.

The guiding principle – you need to be an open book

In a financial separation you have an obligation to ‘make full and frank disclosure’. This means that you and your former partner need to provide each other with all relevant information about your financial circumstances.

This obligation applies in all circumstances. It doesn’t matter if you are negotiating directly with each other, mediating, negotiating through lawyers or making an application to the Court for a Judge to make a decision. But your obligations in relation to the sharing of documents varies, depending on the process you are involved in.

Document disclosure in court proceedings

If you or your former spouse make an application to the Court you will each be obligated, before the first court date, to provide the other person with copies of specific key documents. You can find the list of documents in Rule 6.06(8) of the Federal Circuit and Family Court of Australia (Family Law) Rules 2021. And yes, it includes your 3 most recent tax returns.

If you are in a court process you and your partner will also be entitled to ask the other person to provide a list of all the documents that are (or have been) in their possession or control, that are relevant to your financial circumstances. And you are then entitled to ask each other for copies, or an opportunity to inspect, any of the documents in that list. There are some exceptions, but for the most part you will be obliged to provide a copy, or an opportunity to inspect, if requested by the other person.

Document disclosure in mediation

If you are negotiating your financial settlement through mediation you don’t have the same strict obligations to provide documents. But document exchanges often occur during mediation. These are some thoughts to consider if you have been asked to provide documents, or if you are wondering if you should ask for documents during a mediation process.

• If you had limited information about your ex-partner’s financial circumstances during the relationship, or if you fear that they may be hiding information, then you should err on the side of asking for documents to verify the information that they provide to you.
• Try not to take offence if your former partner asks for documents to verify the information that you have provided. Trust is a precarious thing and it rarely survives a separation unscathed.
• There is some complexity to the law about disclosure so if you’re worried about sharing a particular document you should get some legal advice before agreeing to hand it over.
• Try not to be worried if your former spouse is initially reluctant to share a document with you. It is common, and normal, for people to be protective of their privacy after separation.