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Divorce is already a complex process. In addition, it becomes more complicated when there has been a violation of fiduciary duties or fraud claims. For this reason, having experienced help at your side is essential. Patrick Baghdaserians is a Pasadena fiduciary duty and fraud claims lawyer and family law specialist who also works in the Los Angeles area. Patrick Baghdaserians has over a decade of experience and is someone you want when dealing with fiduciary duty violations and fraud claims to ensure you receive fair and adequate representation.
The term “fiduciary relationship,” in its simplest form, means that spouses must have the highest duty of good faith and fair dealing with one another. In other words, one spouse is not allowed to take unfair advantage of the other. This fiduciary relationship comes into play when two people marry.
Spouses owe essential statutory duties to one another. These duties can create huge responsibilities and difficulties. However, it is necessary to note that a lack of compliance with these duties can potentially cause severe consequences. Spouses are subject to the general rules governing fiduciary relationships when they marry, but after marriage dissolution, fiduciary obligations continue. These same duties continue up until the point that assets and liabilities have been divided by the parties or by the court.
In addition to fiduciary duties being violated, fraud claims may arise during the process of marriage dissolution. When this occurs during the divorce process, it is often a good idea to have a fraud examination to ensure either spouse is not hiding assets from the other. There are several laws and procedures put in place in an attempt to protect spouses from fraudulent activity. During a divorce proceeding, it is common for both spouses to provide declarations about their respective bank accounts, business interests, and expenses. However, this is not always done honestly. Sometimes, a spouse may be incentivized to undervalue their holdings because they want to reduce the amount of child support or alimony they will have to pay. Therefore, in some divorce proceedings, a forensic accountant is hired. The forensic accountant’s job is to thoroughly investigate the finances, primarily if a spouse alleges an allegation or complaint of potential financial fraud. The forensic accountant is hired to find evidence to support or refute the financial fraud allegations.
The marriage dissolution process can be overwhelming and stressful, and issues regarding fiduciary duty violations and fraud claims can make the process more complicated and add to that stress. Therefore, when deciding who to turn to, it is essential to have someone with experience on your side. Patrick Baghdaserians is an experienced Pasadena fiduciary duty and fraud claims lawyer and family law specialist who has dealt with many cases in his over a decade of experience. Regardless of the reason, divorce is challenging, so do not make the process even more difficult for yourself. Schedule a consultation with Patrick Baghdaserians.
