Collecting financial disclosure, calculating an equalization payment, and support calculations are typical parts of most mediations. However some families have financial situations that are complex. These may include:
- Self-employment income from a corporation that requires review of corporate financials, allowable expenses, retained earnings, business cash flow
- Self-employment income from a sole proprietorship that requires review of allowable expenses
- Multiple properties, income properties
- Ownership of businesses that require valuations
- Employee stock/share plans
- Post-separation spending, property ownership
- Spousal support disputes involving income determination and business ownership
- Some pensions
- Undeclared cash income
Clients use mediation for these matters specifically because they are so complex. Clients, and often their lawyers, recognize that mediation is a more efficient alternative to a legal system that can take years to wade through these complexities when clients are bounced between financial professionals, lawyers, and legal filings. The legal system will often require costly and time consuming services such as formal business valuations that may not be necessary for clients to negotiate a fair settlement. In my role I work with clients to determine what information is necessary and from there I coordinate with any needed financial professionals to ensure they have what they need from both clients and then present their work within the process. I keep all parties to an agreed upon timeline, manage communication and disputes along the way, and assist to negotiate a settlement.