Domestic Agreements
Whether a couple is married or living common law, heterosexual or same sex, with children or without, Canadian Family Law aims to protect the individuals and their families. Unfortunately there is no such thing as a one size fits all law that can promise fair and equal protection to everyone.
Although we are all subject to the laws of the land regarding most issues, domestic contracts allow couples to opt out of some aspects of traditional family law. In situations where couples recognize a significant conflict, they may create a domestic agreement to outline rights and responsibilities during the relationship and in the case of divorce, separation or death. Marriage contracts, cohabitation agreements and separation agreements are all covered under the umbrella of domestic agreements.
Domestic Agreements may outline procedures for dealing with:
- Pensions
- Property
- Assets
- Debt
- Real estate
- Business shares
- Inheritance
- Certain responsibilities and rights for children
- Ongoing financial rights and obligations
- Asset distribution when applicable
It is important for individuals to educate themselves on whether a domestic agreement or traditional law would serve their best interests. If you are unsure, it is wise set up a brief consultation with an experienced family law firm regarding the pros and cons of each, pertaining to your situation.
Although created by the individual couple, domestic contracts are legal and binding on the partners. These documents must be thoughtfully created and carefully worded and must ensure fair and equitable treatment for everyone involved. A domestic agreement can set the framework for important financial outcomes in a practical, straight forward manner. Many couples choose to deal with potentially problematic financial issues in a domestic agreement, rather than face frustration and regret down the road. Furlong Ford Law Firm helps clients create a structure for all types of domestic agreements.
The Furlong Ford family lawyers service clients throughout the areas of Oshawa, Whitby, Pickering and the greater Durham Region.
