Mediation can be a good way for couples in Rhode Island to resolve any divorce-related issues in a setting that emphasizes cooperation and fairness. For example, one of the goals of divorce mediation is to divide the couple's property. It is important for couples to come prepared to mediation with the financial information that they will need to accomplish this goal.
First of all, the couple's property will need to be valued. This includes not only physical property, such as cars and furniture, but also intangible property, such as stocks, certificates of deposit and bonds. It is important to have an accurate valuation so that the property division process is fair. It is also helpful to bring along descriptions of the property to be divided. Other items that are often overlooked that also must be divided are pensions, retirement accounts and bank accounts, so it is good to be prepared with that information, as well.
In addition, debts will need to be divided between the spouses. Therefore, it is important to have a listing of all credit cards that the couple shares, along with other loans or outstanding bills. If there is a mortgage balance, that also will also be considered.
Furthermore, spousal support may be an issue that some couples want to resolve through mediation. Therefore, it is helpful to bring along the previous two years of tax returns, along with current pay stubs. If the couple owns a business, proof of any business liabilities, assets and income will also be of importance. Having information about one's health insurance policy is also a good idea.
Some couples in Rhode Island have prenuptial agreements in place. The existence of such an agreement can make the mediation process run more smoothly, as many decisions will have already been made and agreed upon. Still, it is best to come to a mediation session prepared, to help the process move along in a productive manner.
Source: courts.ri.gov, "Preparing For Mediation Involving Divorce," accessed April 6, 2015