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 (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 asset, and/or attorney fees.

An undisclosed and unauthorized transfer of community property to a separate investment account that results in a loss of community property is a breach of fiduciary duty and warrants a financial sanction (IRMO Kamgar).

A speculative and unauthorized loan of money by a party after the date of separation may be a breach of the fiduciary duty that may result in a financial sanction (IRMO Quay).

A breach of fiduciary duty does not occur because one party receives a huge windfall relative to an asset they are awarded in the divorce, unless there has been a fraud, misrepresentation, concealment, or a failure to provide the relevant material facts and information (IRMO Georgiou & Leslie).

Although a party is required to serve the other with the final declaration of disclosure, this rule may not be required if the judgment or agreement is executed before the petition for divorce is filed with the court (IRMO Evans).

Even if a final declaration of disclosure is not required, or is waived, the same fiduciary duty disclosures of material facts and information exists.

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 asset, and/or attorney fees.