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 relative to community assets, separate assets, debts, investment opportunities, and amounts and sources of income with the other party. 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 asset, and/or attorney fees.
An undisclosed and unauthorized transfer of community property to a separate investing account that results in a loss of community property is a breach of fiduciary duty and warrants a financial sanction (IRMO Kamgar).
If you are in need of an expert who specializes in fiduciary duties in Orange County, contact Minyard Morris Family Law at