How Much Will it Cost? Although the mediator's hourly fee is comparable to an attorney's hourly fee. Mediation takes much less time than an attorney negotiated settlement or litigation, therefore, the average cost of a mediated agreement is a fraction of the cost of an attorney negotiated settlement or litigation.
As you can imagine, the duration of a specific mediation is impossible to predict. In my years of experience, however, I have found that couples with children who decide to create a separation agreement generally need between 3 to 5 meetings and couples without children generally need between 2 to 3 meetings before they are ready for the mediator to prepare a draft of their agreement. All meetings are a minimum of 2 hours. Each meeting generally lasts 2 and 3 hours. We ask parties to set aside 3 hours for each meeting so no one feels rushed. I do not set a minimum or maximum number of meetings. That's in your control. Once you reach verbal agreement on all issues, then the mediator will write your agreement -- an estimate of the time to write the agreement can be more specifically given at that time, but generally it's from 2 to 5 hours (also charged at the hourly fee). The mediator will meet with you to go over the written agreement (this meeting is sometimes an exception to the 2 hour minimum). Your agreement will be written in plain English using words that you understand. You control the amount of time you spend. Angel Law Mediation offers professional mediation services at an hourly fee. There is a first appointment scheduling fee required upon scheduling initial appointment. Payment of services is requested at the end of each meeting.
What Do I Need to Bring?
Please bring identification information/documentation and current information about financial accounts, loans, and property titled, owed, or owned by one or both of you. All information should be the most current available and should be the source document (most recent statement). Printouts of statements from the internet are fine. If a spreadsheet helps you organize, fine, it’s not required, but please bring the source documents, too. Please note: Many of the items listed will not apply to everyone. Also, this list is not all-inclusive. If there's anything this list doesn’t include from a financial standpoint that applies to you, please bring it. However, please do not spend money obtaining third party information, for example, an appraisal, at this time. You do not need and are not required to have every item in hand to begin mediation. Do not let document gathering delay your first meeting. The first meeting will identify any remaining items needed and may save you from searching for information you won’t need.
1. Identification Documentation a. Social Security Numbers b. Driver’s Licenses c. If you have minor children, please bring the last 4 digits of their social security numbers
2. All Financial Assets a. Bank Accounts b. Non-Retirement Investment Accounts c. Retirement Savings Accounts (IRA, 401(k), 403(b), etc.) d. Pensions (Military, CSRS, FERS, Private) e. College Accounts (UTMA, UGMA, 529, etc.) f. Other Financial Assets
3. Significant Property & Related Loan Information (Balance Due & Monthly Payment) a. House and Other Real Estate b. Cars, Boats, and Other Licensed or Titled Property c. Other Significant Property d. Do Not Inventory Your Household Property and Furnishings
4. All Other Financial Liabilities a. Credit Cards b. Financing Arrangements i. Braces ii. Furniture iii. Computers/TV iv. Appliances c. Outstanding Unreimbursed Medical Expenses d. Student Loans e. Loans from Friends or Family f. Other Loans or Financial Obligations
5. All Salary, Wages and Other Forms of Compensation a. Recent Pay Stubs b. Employment Agreement c. Stock Options Plan d. Bonus Schedule e. Commission Schedule f. Deferred Compensation g. Other
6. Insurance a. Life i. Death Benefit Amount ii. Beneficiary iii. Term or Other (Whole, Universal, etc.) 1. If Other, Cash Value 2. Copy of Policy b. Health, Dental & Vision i. Cost of Current Coverage ii. Cost of Same Coverage for “Employee Only” and for “Employee plus Children” (may be the same as Family Plan)
7. Taxes a. Copy of Most Recent Tax Returns i. W-2s ii. 1099s b. Knowledge of Current Year Tax Status i. Estimated Tax Payments ii. Past Due Taxes 8. Sole Proprietor or Family Business Information