The purpose of divorce mediation is to peacefully come to an equitable division of assets. These might include increases in value of premarital assets or inherited assets, joint assets, and assets acquired during the marriage.
The process of divorce mediation includes listing all of your assets, agreeing to values for them (either through formal appraisals or informal agreements), and equitably dividing them.
The assets that are typically included in most divorce agreements include:
- personal residence
- second home or vacation property
- timeshares
- recreation vehicles (boats, motorcycles, RVs, etc.)
- retirement accounts (401ks, IRAs, SEPs, pensions, etc.)
- savings accounts
- checking accounts
- money market funds
- mutual funds
- stocks
- bonds
- annuities
- life insurance policies
- precious metals (gold/silver)
- jewelry
- collections
- personal property (china, artwork, furniture, family photos, etc.)
As assets are divided, so, too are debts or obligations, and agreements are made through mediation as to who will take responsibility for which debts. These might include:
- mortgages
- lines of credit
- car loans
- credit cards
- student loans
- personal loans
- family loans
For more information on the fair division of property in a divorce, please call (303) 591-8985, or e-mail info@mediateddissolutions.com.