Mediator Tips
Financial Considerations in Family Mediation

Family mediations will often have to deal with the issue of child support, which means that money will be a factor that comes into play. In order to get a comprehensive view of each person's finances, there are several questions a mediator must get an answer to and several subjects that must be discussed. Examples of both follow:

1. Support Guideline
   a. Income of parents
   b. Health Insurance
   c. Extraordinary medical expenses
   d. Child care expenses
   e. Proportionate shares
   f. Who pays and when?
2. Reduction when child is with other parent?
3. Income Tax exemption: who will take it?
4. Medical care not covered by insurance
   a. Who will decide?
   b. Who will pay and how much?
5. Life insurance - Is the purpose for the policy to cover support in case of death of parent? With current life insurance polices, who is the beneficiary? Who is the owner? What type of policy – term, whole life or universal?
6. College
   a. Expectation of parents
   b. Expectation of children
7. Remember to get Social Security numbers and date of birth for both parents.

There are other questions that will arise as these questions are answered, but making sure that these topics are covered is a first step towards building an understanding of the financial issues involved in the mediation.