In Re Marriage of Duffy

Introduction

Vincent J. Duffy appeals from that portion of the judgment which finds that he breached his fiduciary duty of disclosure to his spouse, Patricia A. Duffy, and awards her damages for the breach of $400,684. Patricia Duffy appeals from that portion of the judgment which denies her attorney’s fees incurred in asserting and trying her breach-of-fiduciary-duty claim. We reverse the lower court’s breach-of-fiduciary-duty findings. In all other respects, we affirm the judgment.

Statement of Facts

Vincent J. and Patricia A. Duffy were married on December 1, 1962. After 34 years of marriage, they separated on January 28, 1997.

Vincent Duffy received an undergraduate degree in business from Seton Hall in 1959. He attended graduate school. Patricia Duffy received an undergraduate degree in English from Hunter College in 1964. She took no finance or accounting courses while attending college.

Patricia Duffy worked briefly after the parties married. She stopped working, however, when the first of their seven children was bom. She returned to work in 1991 after obtaining a teaching credential.

Early in the parties’ marriage, Patricia Duffy managed the parties’…