Breach of Spousal Fiduciary Duty
Under California law, each spouse owes to the other a fiduciary duty, including the obligation of full and complete disclosure to the other spouse. Concealing assets or investment opportunities, undervaluing assets, or being dishonest regarding any material financial matter can result in severe economic penalties. Marshall S. Zolla and Deborah Zolla wrote one of the leading articles in California on this essential topic, which was published as the cover article in Los Angeles Lawyer Magazine in February 2004. They have continued to write and present on this issue as the law continues to evolve. They have also litigated the issue in multi-million dollar cases, and have negotiated favorable settlements for clients with their extensive knowledge of the law. Because most married couples are not aware of the high standard imposed by the law, a breach has often occurred by the time a separation occurs. Our firm has years of experience and a well-deserved reputation for dealing with these types of sophisticated issues, both in the courtroom and at the negotiating table.