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Breach of Fiduciary Duties

Are Parties Required to Voluntarily Provide Each Other with All Material facts and 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 sources of income with the other party (IRMO Feldman). The duties continue until the divorce is finalized, and the property is distributed. A breach of fiduciary duties can result in substantial financial sanctions, a 100% penalty equal to the value of the undisclosed assets.