Domestic Contract (Waiver of Rights to Equalization Payment) (ON)

Summary

This precedent is a contract for the purpose of waiving the rights of the spouses to take Family Law Act, R.S.O. 1990, c. F.3 equalization and to elect against the will of the other spouse. It includes certificates of independent legal advice. This precedent contains practical guidance and drafting notes. For couples who want to make wills where both are aware that they are leaving each other less than would be available under a Family Law Act equalization claim, and they both want to ensure that such a claims will not be made, a domestic contract may be the only satisfactory answer. Particularly where a couple has been married before and each has children or other beneficiaries that he or she wants to benefit, and there is no intention on either side to benefit the other significantly by will, a domestic contract is valuable. A validly made domestic contract will protect a carefully made estate plan from the surviving spouse, or more likely the personal representative of the surviving...