Breach of Fiduciary Duty
When a marriage sours and a divorce is impending or has already been filed, one spouse may try to hide assets or otherwise keep them from the other spouse. This violates the other spouse’s right to equal division of community property and also constitutes a breach of fiduciary duty.
Our family law attorneys in Orange County and LA County have extensive experience handling fiduciary duty claims in California divorce cases.
When you get married in California, you and your spouse legally owe each other a fiduciary duty regarding the marital finances, which is the highest duty of care under the law. This means that you each have a duty to preserve and protect your property and assets and not to waste or dispose of assets without the knowledge and consent of your spouse.
Recovering for a Breach of Fiduciary Duty
In a divorce, you deserve to receive full disclosure regarding the finances and property of your spouse and the marriage. If your spouse is trying to hide assets or transfer ownership to keep them from you, they have breached their fiduciary duty under California law. This is especially common if you and your spouse have significant property or wealth.
You have the right to seek relief for the breach and your spouse can face penalties in the divorce case, even if the breach was deemed unintentional. If the court decides the breach was intentional, you may be awarded all assets that were being hidden.
Defending Against Allegations
On the other hand, if your spouse is claiming that you have breached your fiduciary duty, you could be facing significant liability and may stand to lose significant assets. Our attorneys know how to present evidence to defend against such claims and prove there was no breach or at least that a breach was unintentional. This is a serious matter in a divorce case and you should always be represented by a highly experienced legal team.
Ready To Talk With An Attorney?
Contact our office to speak with an experienced and knowledgeable attorney to learn more about the options available and if an annulment is the best option for you. Initial consultations are completely free and will leave you better informed and prepared for whatever you decide to do.