Marriage of DiTomaso CA2/6

DISCUSSION

Investment losses from 50’s Boys David contends the trial court erred when it found he breached his fiduciary duty to Linda by failing to disclose the $1.4 million in community funds invested in 50’s Boys and attributed the entire investment loss to him. We disagree. A spouse has a fiduciary duty “to make full disclosure to the other spouse of all material facts and information regarding the existence, characterization, and valuation of all assets in which the community has or may have an interest and debts for which the community is or may be liable.” (Fam. Code, § 1100, subd. (e).) Spouses have the same fiduciary duty toward each other as nonmarital business partners. (Fam. Code, § 721, subd. (b).) Each partner must thus furnish the other “[w]ithout demand, any information concerning the partnership’s business and affairs reasonably required for the proper exercise of the

Graniere is also spelled Greniere in some documents.

3 partner’s rights and duties under the partnership agreement.” (Corp. Code, § 16403, subd. (c)(1).) This includes “‘the spouse’s rights and duties in the management and control of community property.’” (In re Marriage of Kamgar (2017) 18…