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Under California Section 721(b) each spouse must manage community property in the highest good faith. Under California Family Code 1100(e) each spouse must act in accordance with the general rules governing fiduciary relationships which control the actions of persons having relations of personal confidence. Neither spouse may take unfair advantage of the other. Each spouse must account to the other for any profits that the other spouse has not consented to and hold as trustee all such profits or benefits. This duty is present until the property is actually distributed by divorce. A spouse may have a claim against the other spouse for a breach of this fiduciary duty. This duty of fiduciary care does not carry over in the same manner as a trustee. Thus, there is no fiduciary duty to invest community assets with the care of a trustee, there is no duty of record keeping the same as a trustee, and there is no duty to segregate community and separate funds in the manner a trustee would perform. There is a duty to make community assets productive when they are under a spouse’s sole control. A spouse may not usurp community investment opportunities with separate funds. ...

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