If you’ve decided to mediate, you need to do preparation. Think about the issues you ‘d like to address in mediation. If your goal is a Separation Agreement, you’ll need to think about what it will include. A Net Family Property Statement? Child and Spousal Support Calculations? A Parenting Plan?
Start by making lists.
To be able to calculate your NFP, the mediator will require full financial disclosure. Create a master list of all your assets, joint or otherwise. The master list should include all real estate (matrimonial home, rental properties, vacation homes), personal property, vehicles (cars, trucks, boats, motorcycles, etc.), bank accounts (joint and separate, chequing, savings), credit cards, retirement accounts, life insurance policies, annuities, stocks and other financial products. Account for everything you own. You’ll also need to document all of your debts and liabilities.
To Calculate Child and or Spousal Support, you’ll also have to gather records for all income sources: income tax returns, and Notices of Assessment, pay-stubs, self-employment profit and loss statements, pension disbursements, social security, alimony and child support payments received. It’s also a great idea to make a budget for yourself.
If you have young children, you might also be interested in a Parenting Plan. Think carefully about how you will be co-parenting after the separation and divorce.