Financial disclosure
The sworn financial statement, the ongoing duty, and the real cost of hiding assets.
Financial disclosure is the backbone of every family case. Support, equalization, and most settlements all rest on accurate income and asset numbers. Without disclosure, nothing else can be calculated honestly.
The central document is the financial statement. Form 13 is used where only support is at issue. Form 13.1 is used where property or equalization is also involved. It is sworn, so it is evidence given under oath, and it sets out income, expenses, assets, and debts. Backing documents follow: tax returns, notices of assessment, pay stubs, bank and investment statements, and proof of significant assets and debts.
The duty is ongoing. You are not done when you file. If your income changes or you find a missed account, you must update your disclosure. A statement that was accurate in March can be misleading by September.
The consequences of non-disclosure are real. A judge can strike a party's pleadings, draw an adverse inference, impute income, order costs against the hider, or set aside an agreement reached on incomplete disclosure even years later. Hiding assets is the fastest way to lose credibility in front of a judge.
How Ryan helps: Ryan prepares your financial statement properly the first time and presses the other side for theirs, so your case rests on real numbers.
Frequently asked questions
What financial disclosure is required in an Ontario family law case?
Where support or property is in issue, each party must serve a sworn Financial Statement under the Family Law Rules, plus supporting documents such as tax returns, notices of assessment, pay stubs, and account statements. Disclosure is mandatory and ongoing. You must update it as your financial situation changes.
What happens if my ex refuses to provide financial disclosure?
A court can order disclosure and impose consequences for refusing. A judge may strike pleadings, impute income, dismiss a claim, draw negative inferences, and order costs against the party who withholds documents. Incomplete disclosure also exposes any later agreement to being set aside under the Family Law Act.
Do I have to disclose assets I owned before the marriage?
Yes. You must disclose all assets and debts, including what you owned on the date of marriage, because those values affect the equalization calculation under the Family Law Act. Disclosing a pre-marriage asset does not mean you lose it; in many cases its date-of-marriage value is deducted.
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