Divorce and Breach of Fiduciary Duties
At the Law office of David P Schwarz we will make sure neither party to the Divorce proceeding will breach a fiduciary duty owed to the other party. We have litigated many cases in Orange county involving breaches of fiduciary duty and fought for the necessary penalties that ensue. Please contact our office for a consultation at 949 735 9266 or via the web. We can also be contacted via email at firstname.lastname@example.org.
A Divorce attorney will strongly argue on your behalf against any violations or breach of fiduciary duty. That means any misuse of any community asset the violating spouse will be liable. A spouse normally has a right to one half of all community assets. If the other spouse diminishes or destroys the others spouses opportunity to access that one half interest then the harmed spouse has a claim against the other party.
An Orange County Court can order an accounting of the assets and debts of the community property. The Court can further assess who the rightful owner of the asset or debt. This is fundamental because the Court needs to know how much money was lost as a result of the other spouses wrongful actions.
In addition the Court needs to know who can access the community property that may be at issue. Classifying all community property is essential to determining who is the rightful owner of the community property at issue.
A Divorce Lawyer will clarify with the Family Law court how to label the community property at issue. The Court has the power to change title of ownership to protect the injured spouse and can place the name on title to property that did not have the name of the injured spouse on title.
In addition, the Court can modify the title of property at issue and reflect that it is community property and not the sole separate property of the spouse who violated the fiduciary duties of the Court.
At the Law office of David P Schwarz we will let the Court know that there are exceptions to reforming title of the alleged community property. These exceptions are: A partnership interest held by the other spouse as a general partner; An interest in a professional corporation or professional association; An asset of an unincorporated business if the other spouse is the only spouse involved in operating and managing the business, or a change to the property if a third party’s rights would be injured.
The penalties imposed by the Orange County Family Law Court for breach of the fiduciary duty by one spouse are an award to the other spouse of 50 percent of an undisclosed community property asset. Or 50 percent of an asset that was transferred in breach of the fiduciary duty. In addition, the injures spouse can be awarded attorney's fees and court costs.
The value of the asset shall be determined to be its highest value at the date of the breach of the fiduciary duty, the date of the sale or disposition of the asset, or the date of the award by the court.
At the law office of David P Schwarz we stringently defend any unlawful breach of fiduciary duty that injures a spouse. As experienced Divorce Lawyers we will fight for your rights. Please contact our office at 949 735 9266 or via the web. We can also be contacted via email at email@example.com.