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Domestic Contracts and Family Law Planning

Domestic Contracts and Family Law Planning

Marriage breakdown can be costly. Without effective legal planning, assets can be lost to a spouse and the divorce process itself can result in high legal fees if discord leads to litigation.

At the Toronto, Ontario, law firm of O’Sullivan Estate Lawyers LLP, we can help protect your and your children’s gifts and inheritances and other property through the creation of tailored domestic contracts.

Using Domestic Contracts to Protect Assets

Family law provides for the use of various kinds of domestic contacts. Some are used before marriage, often referred to as “prenuptial” or “premarital” “agreements”. Others are used in the case of couples who are not married, and are known as “co-habitation agreements”. In some situations (particularly for estate planning purposes), marriage partners may use post-marital agreements.

Having a well-conceived and properly drafted domestic contract can help to protect assets in the case of a relationship breakdown or death. For instance, marriage contracts can specify in advance which property will remain separate or excluded from claims on marriage breakdown or death.

By planning for claims on matrimonial breakdown and death, individuals can protect their inherited property and gifts, ownership of financial assets, real property, trusts assets and interests, business interests, insurance policies and other assets.  We also provide legal advice on planning for gifted and inherited property, including interests in trusts.

Need to Discuss a Domestic Agreement? Contact Us Today.

For more information about the Toronto domestic contract law lawyers of O’Sullivan Estate Lawyers LLP, contact us.