Breach Of Fiduciary Duties
Are Parties Required To Voluntarily Provide Each Other With All Material Information About The Assets And Debts?
Parties to a divorce have fiduciary duties to one another. Fiduciary duties are wide-ranging, but include the duty to voluntarily share information and documents, and to voluntarily share material facts and information related to community assets, separate assets, debts, investment opportunities, and amounts, and sources of income with the other party (IRMO Feldman). The duties continue until the divorce is finalized, and the property is divided. A breach of fiduciary duties can result in substantial financial sanctions, a 100% penalty equal to the value of the undisclosed assets.