Rules to Review

Question 1

Jointly Titled Bank Accounts

Answer 1

Presumed to be CP regardless of source of funds

Question 2

Fiduciary Duty

Answer 2

Spouses owe each other a duty of the highest good faith and fair dealing and neither spouse may take advantage of the other

Question 3

Remedy for Breach of Fiduciary Duty

Answer 3

Court can deviate from equal division rule and non-breaching spouse can take more

Question 4

Debt Incurred for Necessaries of Life When Spouses are Apart

Answer 4

A married person is personally liable (i.e. SP or CP liable) for other spouse’s debt incurred for necessaries of life (i.e. medical expenses, food, housing) when spouses are living apart

If debtor spouse had SP or CP funds available at the time the debt was paid, non-debtor spouse can be reimbursed for SP funds used (CP funds can also be reimbursed)