THURMAN'S BREACH OF FIDUCIARY DUTY TIPS:
Family Code Section 2602 - Deliberate Misappropriation of Community Property
Family Code section 2602 is, in my mind, a particularly important breach
of fiduciary duty statute. So many divorces involve power plays over assets
that one party takes control of early on in the case, to the exclusion
of the other. It is, sadly, all too common. Section 2602 is a statute
you will want to consider invoking if you are a victim of such shennigans.
Opinions vary among expert family law attorneys whether the other side
should be expressly placed on notice that you view their conduct as being
the sort this section is intended to address. I always believe the other
side should be put on notice of specific violations of the law, but I
can imagine situations where one might want to permit the misappropriation
to continue rather than back the other side down.
We've written dozens of articles about interspousal breaches of fiduciary duties!
CALIFORNIA FAMILY CODE
DIVISION OF PROPERTY
SPECIAL RULES FOR DIVISION OF COMMUNITY ESTATE
Family Code 2602
As an additional award or offset against existing property, the court may
award, from a party's share, the amount the court determines to have
been deliberately misappropriated by the party to the exclusion of the
interest of the other party in the community estate.