In a marriage, you are connected to another person financially, and you put yourself at tremendous risk for financial disaster if the marriage ends. Too often, divorce can prompt a game of financial hide and seek when one spouse fails to disclose assets, conceals the value of a business, diverts funds into secret accounts, or attempts to hide assets in other ways from the other spouse. California law stipulates that spouses have a fiduciary responsibility to one another for as long as they remain married. This means that each spouse must handle the couple's finances responsibly while making all information available to the other spouse. At Violet P. Woodhouse, APC in Newport Beach serving Huntington Beach and all of Orange County, an experienced family law lawyer can explain more fully the rights and obligations that exist between you and your spouse and help you understand the legal and financial consequences inherent in a marriage's end.
California is a community property state, and the court ensures the equal division of shared assets, property, and debt when a settlement agreement is not yet in place through several measures. As a result, some of the fiduciary rights and duties to which spouses are subject include:
In many marriages, one spouse is more involved in managing the couple's finances. Unfortunately, this can put the other spouse at a disadvantage during divorce proceedings. In order to obtain a complete financial picture, the less involved spouse will need to gather information informally or, if necessary, initiate the more formal process of discovery to compel his or her spouse to relinquish financial records and statements. In some cases, one spouse may conceal shared assets to deprive the other spouse of his or her right to a share of the community property. In other cases, assets may not be disclosed for the simple fact that they are overlooked. For these reasons, it is important to obtain quality representation to ensure that your rights are protected during your divorce. At our Newport Beach firm serving Huntington Beach and beyond, a knowledgeable family law lawyer can help you to identify any assets that may have been missed or concealed.
It is important that you understand the rights and obligations you owe to your spouse as well as those he or she owes to you. Infringement upon those rights can be costly when a marriage ends. At Violet P. Woodhouse, APC in Newport Beach – also serving Huntington Beach and surrounding areas – an experienced family law lawyer can help you to understand those rights and obligations and protect your assets and financial security. To learn more, contact our family law practice and schedule a consultation with one of our trusted attorneys.
At our Newport Beach firm serving Huntington Beach, an experienced family law lawyer will provide uncompromising representation of your legal interests. Contact us to schedule a consultation with one of our attorneys.
Violet P. Woodhouse, APC
Newport Beach, CA
2 Corporate Plaza
Suite 250
Newport Beach, CA 92660
Phone (949) 640-8861
Fax (949) 640-8862