At the conclusion of your mediation sessions, your mediator will draft a Memorandum of Agreement - a comprehensive reflection of agreements reached in Mediation. Your comprehensive Memorandum of Understanding will include:
- Custody of minor children and shared parenting or visitation schedules
- Child support
- College costs, educational trusts, and custodial accounts
- Tax filing status and exemptions for you and your children
- Martial residence: buyout, transfer, sale, joint ownership, and tax issues
- Capital gains and other tax consequences upon sales and transfers of property
- Medical insurance coverage for children
- Medical coverage for an ex-spouse
- Life insurance coverage
- Spousal support (also known as "alimony")
- Self-employed, family, or other business
- Retirement/pension plans: 401(k), 403(b) TIAA-CREF, IRA, and other plans
- Brokerage, bank, and investment accounts
- Restricted stock, stock options, stocks, bonds, and life insurance cash surrender value
- Federal and State taxes
- Trusts: beneficial interests, irrevocable and revocable
- Investment/rental property
- Vehicles, house contents, and miscellaneous assets
- Liabilities: charge card debt, car loans and lease, mortgage and equity line, promissory note, educational debt, and all other debt
If you are not using attorneys, the mediator will provide additional forms that are required by the appropriate District Court to file for divorce. In most cases, you will not be required to appear in court, but will receive notification once a District Court Judge has approved your agreement and finalized your divorce. |