Legal Question in Family Law in California

Fiduciary duty code 1100

During marriage, we eash had seperate accounts, I took the money from my stock account and gambled it away at vegas, monte carlo,horse races, jewelry,clothes. since I was angry I found out he has--name removed--child in another country during marriage. Now his attorney tells us about this new law. Since he invested it wisely and I blew the money away, I have to take the loss. I cannot split whatever assets there is left, He bought property with it out of country and he was trying to hide it from me, but I found it. He and his attorney are claiming that I had fiduciary duty to the family to invest it wisely and not blow it away. Is this correct? Must I have--name removed--receipt for all my expenditures? Some of the Jewelry that I bought was stolen from me while I was in Europe on the train.

Please advise about this fiduciary law code 1100 which is fairly new I heard, most probably about 2 years old.

Sincerely,

Linda


Asked on 8/22/06, 11:42 pm

1 Answer from Attorneys
Lyle Johnson Bedi and Johnson Attorneys at Law

Re: Fiduciary duty code 1100

It has been several years since I researched this issue. The approach of your husband's attorney is ingenious. This code section also refers to gifts and other such dispossals of community property. In the past the use of community property funds for alcohol, gambling, prostitutes etc. were not recoverable. In each of these examples the spouse spending the community property asset received something of value in return for the payment of community property. You should be represented by an attorney in this matter. Then you can discuss the facts of your case with the attorney.

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Answered on 9/05/06, 1:37 am


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