agreements can be an integral part of the Inter-generational
Planning and Wealth Management process.
agreements, marriage contracts and separation agreements
are referred to as domestic agreements under the Family
Law Act of Ontario.
agreements are frequently
used in second marriage
to define and limit property
and support rights and
obligations where parties
are bringing assets, and
families, into a new relationship.
They are also useful in
first marriage situations
where a party is bringing
a specific asset into the
relationship (such as a
or a business) and wishes
to ensure that the other
party can make no claims
against that asset in the
a breakdown in the relationship.
are covered under Section
53 of the Family Law Act,
which can be found on the
Ministry of the Attorney
of Ontario web site at
contracts are entered into after marriage and are similar
in scope to cohabitation agreements in terms of what
can and cannot be agreed to with one major exception:
an attempt by one party to contract out of his or her
Part II rights, i.e. the right to possession of the
matrimonial home, is unenforceable. Marriage contracts
are covered under Section 52 of the Family Law Act.
agreements are covered under Section 54 of the Act.
These agreements are the broadest in scope of the domestic
contracts as all issues which arise as a result of cohabitation
can be dealt with under a separation agreement. They
are invaluable in putting closure to a difficult and
appreciate that the negotiation, drafting and signing
of these types of contracts is a stressful process that
can impact on the lives of the parties and their children
for years to come. Our philosophy with respect to domestic
contracts is "The best agreement is a fair agreement".