Fiduciary Duty

Parties to a divorce have fiduciary duties to one another and must share information, documents and facts regarding community and separate assets, debts and income. Simply said, the law requires each party to account and disclose. These duties to account and disclose remain in place until the divorce is finalized and the property is divided. If these duties is breached before then, substantial financial penalties can result (such as the value of the undisclosed asset or recovery of attorney fees).