Spousal Fiduciary Duties
Upon marriage the spouses (and Registered Domestic Partners) enter in a fiduciary relationship. This legal relationship imposes the highest “duty of good faith” and “fair dealing.” Neither party is permitted to take “unfair advantage” of the other when dealing with other and the control and management of the community assets and liabilities.
If you are involved in a dispute involving spousal fiduciary duties, the experienced fiduciary duty lawyers and divorce lawyers at Brown & Charbonneau, LLP can help. Call us today for immediate help at 714 505-3000.
The parties are also required to make full disclosure of income, assets, debts and material information in order for the marital estate to be equitably and fairly divided. The disclosures must include community property as well as separate property. In addition to written disclosures, each party is entitled to information regarding any transactions made with community property, any profits from such transactions, and whether any transactions have been made for the benefit of only one spouse. The parties may also access books and other documentation related to financial transactions concerning any financial transaction that impacts the community
A spouse or partner who purposefully under values an asset to gain an advantage or engages in “hide the ball” tactics during a dissolution proceeding is exposing themselves to potential significant monetary sanctions, payment of the other parties’ attorney fees, loss of the opportunity to present evidence in court, and/or (depending on the circumstances) 50% or 100% of the value of an omitted asset be awarded to the other party.
Getting Help Today
The fiduciary duty attorneys at Brown & Charbonneau, LLP can assist you to ensure that you make all necessary disclosures in your dissolution proceeding. If the other party has engaged in actions that are contrary to his or her fiduciary duty, our lawyers can assist you in bringing a proper motion to compel the information and to seek sanctions and attorney fees as allowed by the law.
Call us today for immediate help at 714 505-3000. Or, email Gina in our family law department at firstname.lastname@example.org.