Can the Legacy of Your Bloodline Stay Protected from Divorce?

Sep 1, 2020 10:00:00 AM The MacMillan Estate Planning Team estate plan, divorce, prenuptial agreements, spousal trusts

Intelligent estate planning is about protecting your assets and ensuring that your wishes are respected. There are some simple steps you can take if you wish your adult children to retain their inherited funds and property in the event of divorce.

  1. Encourage them to utilize a prenuptial agreement: Properly executed, a premarital agreement can help establish and protect the inheritance rights of your heirs. A well drafted agreement secures your child’s inherited wealth (including heirlooms, business shares, real estate, etc.) from becoming communal or marital property ensuring that it remains in the birth family and does not pass to the family of a divorced spouse.
  2. Leverage the protective power of a trust: The best way to structure a safe wealth transfer to shield your family’s inheritance in case of divorce is via a trust. You can activate a trust while you are living, or have it created for the time of your passing. A trust is a legal relationship that maintains your ownership of an asset on behalf of your beneficiary. It can provide taxation, matrimonial, and credit protection.
  3. Outright distribution titled and maintained in your child’s name: Have your child take the proper steps to keep inherited assets segregated from marital holdings. Avoid titling the assets in joint names. This method is complex and less effective than a trust. 


In order to safeguard your legacy, seek the assistance of qualified Trust and Estate Practitioners. They can tailor a trust to fit you and your family’s specific requirements in protecting the legacy of your bloodline in case of divorce.


MacMillan Estate Planning offers a one-stop-shop service – everything you need to plan the transfer of your legacy is under our roof. Like an architect, we take an unbiased and integrated approach to planning. Our employees include lawyers, accountants, financial planners and counsellors who work holistically together. We are disruptors in a traditional and convoluted industry. We offer a jargon-free, refreshing alternative to the banks, law firms and accountancy firms for all your estate planning needs.
Please take advantage of our complimentary consultation, or register for one of our upcoming seminars. You can also reach us by phone at 403-266-6464, or email at inquiry@macmillanestate.com.


At MacMillan Estate Planning, our team of professional trust and estate practitioners, chartered accountants, financial planners, and legal professionals look forward to assisting you with the design of your estate plan and will ensure you build, protect, and enjoy your wealth. The information provided is general and may not be suited to your objectives or sufficient to ensure the protection of you and your family. You should not act on this information without providing MacMillan Estate Planning with the opportunity to ensure that it is suitable for your unique situation.


We are here to help
Ask Us a Question

Posts by Topic

see all
checklist_image.png