VIC Should I Disclose Finances for Property Settlement Before Divorce?

[Max27]

Dear Friends,

My ex-partner's lawyer sent a letter to my lawyer asking to disclose my financial status to them because my ex-partner wants to finalize the property settlement matters.

My question is - am I supposed to disclose my finances to my ex's lawyer or can I refuse until I get a court order?

Secondly, I am under the impression that, you can touch the financial/ property settlement matter (through court) only after your divorce is finalized and you will be given 12 months after divorce to finalize the property issues. Am I right?

Thirdly, would the family court consider any growth in my property/ wealth occurred after the separation from my wife, to finalize property/wealth split?

Please help me ASAP.

Thanks

 

[Aneta]

Financial disclosure is legally required under Family Law Rules and you will be required to submit an application for consent orders. If you refuse, orders can be obtained for disclosure and a costs application made against you...you can settle property disputes at any time after separation but the limitation period ends 12 months after a divorce is finalised.

After this you can seek leave of the court. Technically you could enter into a postseparation financial agreement any time without limit. However most solicitors will avoid this because such agreement are open to dispute on a number of levels...

Yes all assets at the date of hearing or date if settlement are included in the asset pool so this includes post-separation assets unless you can demonstrate that the asset should be quarantined because it's acquisition occurred using monies not stemming in any way from the relationship, and that it would not be unfair to do so.