Separation can become significantly more complicated when one person suspects the other is hiding money, property or other financial interests.
Perhaps a bank account suddenly disappears from the conversation. A business may appear to be worth far less than expected. Money might have moved shortly before separation. Alternatively, an interest in a family trust may suddenly be described as having “nothing to do with me”.
Cryptocurrency, shares, overseas property and other assets can also raise questions when they do not appear in the disclosed financial position.
Suspecting hidden assets does not necessarily mean deliberate concealment has occurred. However, an Australian family law property settlement requires a proper understanding of the parties’ financial circumstances before they can reach, or a court can determine, an appropriate outcome.
Importantly, changes that commenced on 10 June 2025 expressly incorporated the duty of financial disclosure into the Family Law Act 1975.
So, what can you do when you believe your former partner is not telling the whole financial story?
What Is Financial Disclosure in Family Law?
Parties involved in family law financial and property matters have important disclosure obligations.
In practical terms, financial disclosure can extend well beyond identifying the family home and checking the balance of a joint bank account.
Depending on the circumstances, the financial picture may involve:
- real estate;
- bank accounts and cash;
- shares and investments;
- superannuation;
- businesses and company interests;
- family trusts;
- partnerships;
- cryptocurrency and digital assets;
- overseas assets;
- vehicles and valuable personal property;
- income and other financial resources;
- loans and liabilities; and
- interests connected with more complicated financial structures.
Therefore, the disclosure required in one property matter may look quite different from the disclosure required in another.
The Federal Circuit and Family Court of Australia provides further information about the current property law framework and financial disclosure requirements in its guidance on family law property changes from 10 June 2025.
The Duty of Disclosure Is Now Expressly in the Family Law Act
The 2025 family law property reforms made important changes to the legislative framework.
For married parties, section 71B of the Family Law Act 1975 addresses the duty of full and frank disclosure in financial or property matters.
For relevant de facto property matters under the federal family law regime, section 90RI contains corresponding provisions.
Significantly, the legislation also addresses disclosure while separated parties prepare for proceedings. Therefore, disclosure should not simply become an issue when everyone arrives at court.
The current legislation can be viewed through the Federal Register of Legislation – Family Law Act 1975.
Disclosure is consequently much more than a procedural box to tick. Instead, it helps establish the financial circumstances against which parties can negotiate or litigate a property dispute.
What Can a Hidden Asset Look Like?
The phrase “hidden assets” might create an image of secret offshore accounts and elaborate financial schemes.
In reality, the issue can be considerably less dramatic.
For example, a disclosure concern might involve:
- an account that has not appeared in the financial material;
- unexplained transfers of money;
- shares or investments omitted from documents;
- cryptocurrency holdings;
- an interest in a company or trust;
- income retained within a business;
- assets transferred to relatives or associates;
- an overseas financial interest;
- valuable property acquired in another person’s name;
- a debt that requires closer examination; or
- disagreement about the true nature or value of a business or financial interest.
However, it is important to distinguish between an undisclosed asset and a disputed valuation.
Both parties may agree that a business exists, for example, but strongly disagree about its value. That does not necessarily establish concealment. Instead, the dispute may require valuation evidence or other expert assistance.
Complex property settlements can therefore involve considerably more than compiling a list of assets and liabilities.
For a broader explanation of property matters, see Property Settlement Lawyer Australia.
What If You Suspect Your Former Partner Is Hiding Assets?
Suspicion alone does not establish that a hidden asset exists.
A more useful starting point is often:
What evidence supports the concern?
Financial records can reveal inconsistencies that warrant closer examination.
Depending on the case, relevant material may include:
- bank statements;
- tax returns;
- company financial statements;
- trust documents;
- loan applications;
- property records;
- business records;
- shareholding information;
- superannuation information;
- transaction histories; and
- documents obtained through formal court processes.
Nevertheless, the appropriate response should reflect the nature and value of the property pool.
A relatively straightforward property settlement does not automatically justify an expensive forensic exercise. On the other hand, substantial assets, businesses, companies or trusts may justify closer investigation when significant disclosure questions remain unresolved.
Businesses, Companies and Trusts Can Make Disclosure More Complex
Some of the most difficult disclosure disputes involve an overlap between personal and business finances.
For instance, a person may have interests connected with:
- private companies;
- family businesses;
- discretionary trusts;
- partnerships;
- corporate beneficiaries;
- self-managed superannuation funds; or
- interconnected business structures.
A statement that an asset is “owned by the company” or “belongs to the trust” may not answer every question relevant to a family law property dispute.
Instead, the circumstances may require consideration of ownership, control, beneficial interests, financial resources and the practical operation of the structure.
In complex matters, solicitors may work with accountants, valuers, forensic accountants and counsel. Together, those professionals can help identify the evidence required to understand and properly present the financial structure.
What About Cryptocurrency?
Cryptocurrency has added another dimension to modern property disputes.
Digital assets can sometimes prove more difficult to identify than traditional bank accounts or real estate. Nevertheless, cryptocurrency does not fall outside the family law system simply because it exists digitally.
Where cryptocurrency forms part of a person’s financial circumstances and is relevant to the property matter, disclosure obligations may apply.
The evidentiary questions can then include identifying the digital asset, establishing ownership and determining its value at the relevant time.
Accordingly, concerns about cryptocurrency should also be approached through evidence rather than speculation.
Can Subpoenas Help Identify Financial Information?
In appropriate court proceedings, subpoenas can provide one mechanism for obtaining documents from third parties.
However, a subpoena does not provide an unlimited right to search through another person’s financial affairs.
The material sought needs proper relevance to the issues in the proceedings, and procedural requirements apply. Furthermore, depending on the circumstances, other disclosure processes may provide a more appropriate course.
For that reason, complex disclosure disputes benefit from a clear strategy.
The objective should not simply be to accumulate the largest possible pile of documents. Instead, the legal team should identify the material needed to understand and prove the relevant financial circumstances.
What Can Happen If Someone Fails to Make Proper Disclosure?
A failure to comply with disclosure obligations can have serious consequences.
The Family Law Act 1975 provides the Court with powers that may become relevant when a person fails to comply with disclosure requirements.
Depending on the circumstances, the Court may consider matters including:
- the effect of the non-disclosure when making property orders;
- costs or security for costs;
- further disclosure orders;
- consequences for contravention of court orders;
- contempt; and
- staying or dismissing all or part of proceedings.
The appropriate response will depend on the particular facts and procedural history.
More fundamentally, non-disclosure can create a practical problem:
How can parties sensibly negotiate a property settlement if they do not understand the true financial position?
As a result, unresolved disclosure issues can make meaningful settlement negotiations considerably more difficult.
Hidden Assets Are Not Just a Problem for the Person Seeking Disclosure
Disclosure disputes can become expensive for everyone involved.
For the person seeking further disclosure, there is a risk of pursuing suspicions that ultimately lead nowhere.
Conversely, a person who resists legitimate disclosure may turn what could have been a manageable property matter into a more complicated dispute involving additional applications, evidence, costs and scrutiny.
A disciplined approach is therefore important on both sides.
The central questions should remain:
What information is relevant? What information has already been provided? What is genuinely missing? What evidence justifies further investigation?
Those questions can help keep the dispute focused on evidence rather than accusation.
Why Early Strategy Matters in Complex Property Disputes
Disclosure issues can shape the entire course of a property case.
When the legal team identifies a significant financial issue early, it can consider which documents are required, whether expert evidence may assist and whether meaningful negotiation remains possible.
By contrast, discovering a substantial disclosure problem shortly before a hearing can create obvious difficulties.
For instructing solicitors, counsel may be particularly useful where a property matter involves:
- substantial or complicated asset pools;
- disputed company or trust interests;
- allegations of hidden assets;
- difficult disclosure issues;
- contested valuations;
- questions about the evidentiary significance of financial records;
- interlocutory applications concerning disclosure; or
- preparation for mediation or final hearing.
For further information about involving counsel, see When Should You Brief a Family Law Barrister?.
The Bottom Line
A sound property settlement requires a proper understanding of the financial circumstances relevant to the dispute.
Where genuine concerns arise about an undisclosed asset, income stream, business interest or financial resource, simply accusing the other party of hiding money rarely provides the best strategy.
Instead, start with the evidence.
Identify the concern. Examine the available financial material. Determine what information remains missing. Then consider the appropriate disclosure procedures and whether expert assistance may be necessary.
Ultimately, parties should not assume that they must simply accept an incomplete financial picture.
Brief Chris Garlick in Complex Family Law Property Matters
Chris Garlick accepts briefs from solicitors in family law property proceedings, including matters involving complex asset structures, companies, trusts, businesses, disputed valuations and financial disclosure issues.
Depending on the matter, Chris can provide advice on prospects and strategy, settle court documents and submissions, assist with preparation for mediation or hearings, and appear in contested property proceedings.
Solicitors seeking counsel’s input in a complex property or financial disclosure dispute can find further information at Brief a Family Law Barrister.