You’ll also want to gather records for all income sources: paystubs, self-employment profit and loss statements, pension disbursements, social security, alimony and child support payments received. As for expenses, you’ll want to list your recurring expenses as well as ongoing liabilities, so that all mortgage payments, car loans, health insurance costs, food, utilities, student loans, credit card payments, etc. are known.
Mediating parents have a number of options available for determining how to provide for their children’s needs after divorce. As a starting point, we will calculate MN guideline child support using the MN Child Support Calculator which as of January 1, 2007 uses an income shares model for determining child support obligations. My process includes a complete explanation of how to properly input the information and how to read the calculator’s result. While many parents choose to follow the State guidelines; some parents decide to deviate from guideline support based on a variety of reasons. Still others adopt a less traditional (and more flexible) plan for sharing all expenses relating to the children, such as a joint checking account or monthly accounting and reimbursement method. Mediation allows you to be creative about how best to provide financial support for your children’s needs after the divorce.
It also possible, as part of settlement agreements to contractually limit the amount and duration of spousal maintenance, and limit or prevent altogether any future modification of maintenance, though what is known as a "Karon waiver". Benefits of such waivers involve certainty to both parties as to amount and duration of maintenance. Risks also are possible, if a party contracts to a set term and amount of maintenance, and either through illness or job loss, either cannot meet their obligation or may need an extension of their award, as most waivers require the court to give up jurisdiction to make such a change. Importantly, Karon waivers may only be agreed upon by both parties. If there is no such agreement, a court may never order such limitations and waivers of rights to future "modification" of the amount or duration of maintenance.
If you are proceeding without an attorney, you are well-served to use an experienced mediator with extensive legal background able to address all of the issues surrounding your specific case; if you have a land dispute, you want to have a mediator capable of understanding your concerns and the law as well. If you have a divorce or custody case, you want a mediator with extensive experience litigating these issues.
NOTE: There are many ways to divide real estate in a divorce. The court forms for marriage dissolution (divorce) only give you 1 option -- one spouse gets 100% of the house, cabin, or other real estate, and the other spouse gets a lien. But, you can change the court forms. An attorney can explain other options, advise you about the law, and draft terms to meet your situation. If your divorce involves real estate, you should get advice from a lawyer on your legal rights and options.