If you’re preparing for your divorce mediation sessions, it’s time to get organized. In order to make informed decisions, you’ll need to gather several documents about your finances, insurance, and taxes. This blog provides a comprehensive divorce mediation checklist – everything you may need during your mediation.
But don’t panic at the size of this list. Just focus on the ones applicable to your situation. Check with your mediator to be sure of what’s necessary.
Your Assets
- Current Bank Account Statements (such as checking, savings, CDs, money markets)
- Executive Compensation (such as stock options, restricted stock units, incentives, or golden parachute plan)
- Retirement Accounts and Pensions (such as 401K, 403b, 457 Thrift Savings Plans, TIAA-CREF, IRAs, Roth IRAs, SEP IRAs, Annuities)
- Children’s Accounts (such as bank accounts, 529 plans, or other college savings plans)
- Investment Statements (such as stocks, bonds, mutual funds, secured notes)
- Vehicles (such as cars, trucks, boats, trailers)
- Real Estate (such as primary residence, vacation homes, timeshares, investment properties or land)
- Personal Property (such as high-value jewelry, art, antiques)
- Business (regardless of which spouse is the owner)
- Pending Lawsuits (where one or both spouses are plaintiffs)
- Loan Statements (where one or both spouses are creditors)
Your Liabilities
- Mortgage or Home Equity Loan Balances
- Vehicle Loan Balances
- Student Loan Balances
- Credit Card Balances
- Private Loan Balances
- Business Loan Balances
- Pending Lawsuits (where one or both spouses are defendants)
Your Income
- Pay Stubs (for last six months)
- W-2s (for last tax year)
- 1099s (for last tax year)
- Social Security income
Your Taxes
- State and Federal Tax Returns (for last three years)
- Corporate Tax Returns (for last three years, if one or both spouses had a business)
Your Insurance
- Life Insurance Policy Declaration
- Long-Term Care Insurance Policy Declaration
- Disability Insurance Policy Declaration
- Supplemental Insurance Policy Declaration
- Health Insurance Policy Declaration
- Homeowner Insurance Policy Declaration
- Auto Insurance Policy Declaration
Your Other Marital Documents
- Marriage License
- Pre-Marital or Marital Agreements
- Trusts
- Wills
As you can see, there might be a few areas where you’ll need an expert to advise on the value of your assets. Part of the mediation process is to clarify these prior to making decisions. Hopefully, this list will get you thinking about where you might need outside help and what you can start gathering today. If you have questions about this divorce mediation checklist, please schedule a free consultation call.