Starting these proceedings may leave individuals feeling overwhelmed as they navigate a complex situation. One way legal professionals can help ease clients’ mental and administrative stress is by reducing the burden of collating and submitting crucial documentation.

InfoTrack has developed Financial Disclosure to streamline the document collation process, ultimately giving you time back in your day to focus on providing strategic advice to your client. By connecting to major institutions, clients can automatically source their financial data in one secure workflow. Once uploaded, the information is seamlessly integrated back into your Practice Management System (PMS).

How does the process work?

Step 1

Send an initial request:

Your client will receive a secure invitation link via email to start the process.

Step 2

Connect to accounts:

Using a one-time password, your client can securely connect to their financial services.

Step 3

We compile the documents:

Using the information provided, we instantly collate your client’s required documents.

Step 4

Finalise and send:

Any required changes can be made from your client before they submit to you.

Step 5

Request additional documents:

If you find any information missing, request it from your client.

Your documentation delivered in a secure and reliable way.

How does this benefit you and your client?

For those practicing within the family law space and their clients, there are numerous advantages to using Financial Disclosure.

For you, the legal representative

All relevant documentation collated into one location.
Information is automatically synced back into the matter.
Reduced manual data entry and streamlined document organisation.
A secure space to ensure compliance with privacy regulations and client confidentiality.

For your client

FAQs

What is financial disclosure in Australian family law?

Financial disclosure in Australian family law is the legal obligation for both parties to a separation or divorce to provide complete and accurate disclosure of all assets, liabilities, income, superannuation interests, and financial resources. This obligation is established under Rule 6.06 of the Federal Circuit and Family Court of Australia (Family Law) Rules 2021, and applies to all family law property matters, whether parties are resolving their finances by consent or through contested proceedings. The obligation is ongoing, meaning parties must continue updating their disclosure as circumstances change throughout the matter. Failure to comply can result in financial orders being set aside, adverse cost consequences, and in serious cases, findings of contempt.

What documents are required for financial disclosure in a family law matter?

The documents required for financial disclosure in a family law matter typically include bank statements for the last 12 months, the 3 most recent years of tax returns and Notices of Assessment, current payslips, superannuation statements, mortgage and loan statements, and documentation relating to any business, trust, or company interests. The Federal Circuit and Family Court of Australia requires parties to exchange these documents early in the matter, with an ongoing duty to disclose any material changes to their financial position

How does InfoTrack Financial Disclosure work?

InfoTrack Financial Disclosure works by sending the client a secure, one-time invitation link via email. The client uses a one-time password to securely connect to their financial institution accounts, which automatically collates the required financial documents. Once the documents are compiled, the client can review and submit them to the practitioner. Any missing information can be requested directly through the platform, and once complete, the documentation is automatically synced back into the practitioner’s practice management system. The entire process is designed to replace manual document collection with a single, secure, end-to-end workflow.

Is client financial data secure in InfoTrack Financial Disclosure?

Yes. InfoTrack Financial Disclosure is designed so that only the practitioner who created the order, or those they have specifically granted access to, can view the contents. InfoTrack’s ensures that sensitive financial information remains entirely within the control of the practitioner and their client. The system requires two-factor authentication for client verification, and all data is automatically purged from InfoTrack’s servers six months after the order expires.

Financial Disclosure

Looking to alleviate your clients’ stress around financial disclosure during a separation or divorce?