divorce -post mediation property agreement w chart

7/28/2019 Divorce -Post Mediation Property Agreement W Chart

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Please Note: This is a *sample* Post Mediation Agreement created for a course assignment. The client names andfacts contained herein were provided as part of a hypothetical case and do not represent actual parties.

STATE OF MICHIGAN

IN THE 30th

CIRCUIT COURT FOR THE COUNTY OF INGHAM

FAMILY COURT DIVISION

IDA B. MEAN,

Plaintiff,

vs.

IZZY U . MEAN,

Defendant. /

File No: 09-1231-DM

HON. ROSEMARIE AQUILINA

MEDIATION AGREEMENT FORDIVISION OF

PROPERTY

ATTORNEYSFORTHEDEFENDANT:THE EATON &ASSOCIATES LAW FIRM,P.L.CNANCY R.EATON (P76191)1808 Davis AvenueLansing, MI 48910(517) 507-1476

ATTORNEYSFOR

THE

PLAINTIFF:

THE MILLER,KUO,&BELLOLIO-MURILLO LAW FIRM,P.L.C.APRYL D.MILLER(P12345)1133 Comfort StreetLansing MI 48915


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Lansing MI 48915

TABLE OF CONTENTS

Background Information.3 Summary of Facts..4 Issue 1: Division of Marital Assets ........ 5, et. seq.

Marital Home..5 Moving Expenses for Parents of Ida B. Mean 5 Status of the Au Pair....5

401K and Retirement Accounts ..6Lesko Benefits .....7Life Insurance .....7Health Insurance ....8Bank Accounts.....8Inheritance .9 Personal Property ....10

Northwestern Airline Miles....12Automobiles and Vehicles. .12Wedding Rings...13

Property Belonging to the Children...14

Issue 2: Division of Marital Debts .....15Issue 3: Spousal Support, Child Custody and Child Support 19Issue 4: Miscellaneous Issues.....20

Attachment Index............22


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BACKGROUND INFORMATION

Date of Marriage: January 1, 1998

Plaintiff: Ida B. Mean, age 45

Defendant: Izzy U. Mean, age 42

Employment Information:Plaintiffis a Registered Nurse (RN) with Sparrow Health Systems,Sparrow Main Campus, Lansing, MI

Defendant is the President of MoreMoney Bank, located at theDowntown Lansing, MI Branch

Children of the Marriage: Samantha Y. Mean, age 13 (DOB: 10/31/1998)Samuel I. Mean, age 12 (DOB: 12/27/1999)Wendy Y. Mean, age 9 (DOB: 4/25/2003)William I. Mean, age 9 (DOB: 4/25/2003)

Date of Separation: January 2012

Date Complaintfor Divorce was Filed: January 13, 2012

Judge: Hon. Rosemarie Aquilina


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SUMMARY OF THE FACTS

Ida B. Mean, 42, and Izzy U. Mean, 45, have made the decision to live separately and Mrs.

Mean has chosen to seek dissolution of their marriage. They have submitted issues of their

divorce to mediation with Qiana Jones, mediator at the Ingham County Circuit Court. Mrs. Ida

B. Mean and Mr. Izzy U. Mean have agree that each has made full disclosure the other as to the

location, identity, and value of their property, assets, and liabilities. Each has endeavored,

through the process of mediation, to achieve a fair and reasonable settlement of their dispute, and

both Mrs. Ida B. Mean and Mr. Izzy U. Mean agree that they have achieved a settlement of these

issues which they deem fair to each other.

The parties now desire to set forth, in complete detail, all of the agreements which they have

reached during the mediation process, and it is in their mutual desire that this Mediation

Agreement be taken by their respective attorneys in order that those attorneys can process their

Agreement and obtain for them a dissolution of marriage and property settlement based upon the

agreements they have reached. During the extended mediation process, Mrs. Ida B. Mean has


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ISSUE 1: DIVISION OF THE MARITAL ASSETS

I. Marital Homea. Mrs. Ida B. Mean and Mr. Izzy U. Mean agree that Mrs. Mean will retain

possession of the marital home, located at 113 Elm Street, Lansing, MI 48911.

b. Mr. Izzy U. Mean will continue to pay the remaining $400,000.00 balance of themortgage on the marital home, over the remaining life of the mortgage. As of thedate of this agreement, there was a term of 10 years remaining on the mortgage.

c. Mr. Izzy U. Mean hereby agrees to pay all mortgage payments in full and on timein accordance with the terms of the current mortgage. If any payment shall bedeemed late, Mr. Mean further agrees to pay any late fees or costs.

d. Mrs. Ida B. Mean will pay Mr. Izzy U. Mean 40% of the homes current equityvalue to Mr. Mean in equal installments over the next seven (7) years. As of thedate of this agreement, the homes current equity value was $750,000.00. Thisequity value was reviewed and agreed to be accurate by a reputable home

appraisal agent, both parties, and their attorneys.

e. Within 60 days of this agreement, Mr. Izzy U. Mean will sign any necessarydocuments to quite title and transfer the title of the home into the name of Mrs.Ida B. Mean.

f. Mr. Izzy U. Mean will vacate the marital home within 30 days of the date of thisagreement.

g. Mr. Izzy U. Mean will be solely responsible for all costs associated withpackaging, removing, and relocating his personal property from the marital home.

THEREFORE, DIVISION OF THE MARITAL HOME IS NOT AT ISSUE


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b. In lieu of the Au Pair and for the benefit and happiness of the children, Mrs.Means parents (i.e. the Grandparents of the children) have agreed to move into

the marital home and serve as as needed babysitters.

c. In exchange for Mr. Izzy U. Mean agreeing to vacate marital home and paymovers to relocate childrensGrandparents (Mrs. Means parents)property intothe marital home, Mrs. Ida B. Mean agrees to terminate the full-time, live-in AuPair.

d. Mrs. Ida B. Mean and Mr. Izzy U. Mean further agree that if either party shouldneed substitute, temporary, or part-time childcare for the children, each party will

pay for their respective childcare at his/her sole expense.

THEREFORE, THE ISSUE OF CHILD CARE AND THE AU PAIR ARENOT AT ISSUE.

IV. 401K and Retirement Accountsa. 401K Accounts

i. The amount each party shall receive of the respective portion of the 401Kretirement accounts has been determined in accordance with the followingformula:

1. Each partys respective pre-marital 401K earnings (or retirementaccount earnings) + each party getting of the total 401K earnings(or retirement account earnings) of both earned during themarriage.

ii. The above formula was used to determine each partys share of the 401K.Each party and their respective attorneys have reviewed thesecalculations. All parties and attorneys have agreed that they are accurate


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a. Mrs. Means Pre-marital retirement account amount was$80,000.00.

b. Pre-marital portion of $100,000 + [(3,600,000-860,000)+(442,000-80,000)]/2 = 80,000 pre-marital portion+ [(2,740,000)+(362,000)]/2= 80,000 + 1,551,000=$ 1,631,000.00.

b. Retirement Accountsi. Per this formula, each party will receive the following share of retirement

assets:

1. Mrs. Ida B. Mean receives a total of$442,000.00, consisting of herpre-marital retirement account and the designated portion of thecombined post-marital amounts.

2. Mr. Izzy U. Mean receives a total of$3,600,000.00consisting ofhis pre-marital retirement account and the designated portion of thecombined post-marital amounts.

c. The funds allotted to each party shall be relocated into appropriate 401K orretirement accounts within 60 days of the date of this agreement.

THEREFORE, DIVISION OF THE 401Ks and RETIREMENTACCOUNTS ARE NOT AT ISSUE.

V. LeskoBenefits of Mr. Izzy U. Meana. The parties have agreed that Mr. Izzy U. Mean shall keep the entire value of his

365 unusedLesko benefit days. As of the date of this agreement, the estimatedvalue of these benefits is $625,000.00.


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d. Mr. Izzy U. Mean will retain the whole life insurance policy that is issued in hisname. In doing so, Mr. Mean agrees to hereby assume and pay all current and

future payments due to retain the policy.

e. The parties also hereby agree to amend or change their respective insurancepolicies to name their children (William, Wendy, Samuel, and Samantha Mean) asjoint beneficiaries.

THEREFORE, DIVISION OF THE LIFE INSURANCE IS NOT ATISSUE.

VII. Health Insurancea. Both Mrs. Ida B. Mean and Mr. Izzy U. Mean have health insurance policies

provided through their respective employers.

b. .Mrs. Ida B. Mean and Mr. Izzy U. Mean hereby agree that they will each taketheir own respective health insurance. In doing so, Mrs. Mean and Mr. Meanagree that each party is solely responsible for his/her own policy, including butnot limited to, premiums, co-payments or non-covered service fees.

c. Mrs. Ida B. Mean and Mr. Izzy U. Mean also agree that, upon completion of thisdivorce action, they will remove the other partys name from the coverage plan ofeach policy.

d. Mrs. Ida B. Mean and Mr. Izzy U. Mean further agree that both of them will keepall of their children (Wendy, William, Samuel, and Samantha Mean) listed ontheir respective policies until the children reach age 18 or longer as permitted by

the insurance company.

THEREFORE, DIVISION OF THE HEALTH INSURANCE IS NOT ATISSUE.


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has agreed to set up a separate, individual bank account and reinstate anydeposits or deductions as needed.

b. Individual Bank Accountsi. Mr. Ida B. Mean and Mrs. Izzy U. Mean hereby agree that any other

savings, checking, or other banking accounts held solely (i.e. bearing onlyan individual partys name) shall be retained as their sole and separateproperty.

ii. These accounts were created prior to the marriage and contained onlynominal monies (under $500) at the time of this agreement.

THEREFORE, DIVISION OF THE BANK ACCOUNTS ARE NOT ATISSUE.

IX. Inheritance Left to Mrs. Ida B. Meana. On or about 2006, while the parties were still married, Mrs. Ida B. Mean received

inherence from the estate of her grandmother, Imma Granny. The amount of theinheritance was $250,000.00.

b. Mrs. Ida B. Mean contends that her grandmother intended the inherited fundsremain solely in her possession for the benefit of Mrs. Mean and her children.However, Mrs. Mean has offered no proof to substantiate this claim.

c. Mr. Izzy U. Mean maintains that the inherited funds were received during thecourse of the marriage and were intended for use and enjoyment of both Mrs.

Mean and Mr. Mean.

d. Mrs. Ida B. Mean currently has possession of the account containing the inheritedfunds, with the exception of$10,000.00that Mrs. Mean withdrew from the


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X. Personal Propertya.

Summary of I nformation Relevant to the Personal Proper ty Division:

i. Mrs. Ida B. Mean and Mr. Izzy U. Mean were able to reach resolutionregarding the division of the personal property contained within themarital home or on the marital homes property. Mrs. Ida B. Mean andMr. Izzy U. Mean were each able to reach a resolution that allowed eachparty to retain the property that was of the most importance to them.

ii. In dividing the property, both parties have agreed to exchange said itemsof property no later than 60 days following the date of this agreement.

iii. The parties further agree that the items shall be made accessible ordelivered to the appropriate party in the same condition as they were at thedate of the item appraisal. The appraisal of the items occurred on March14, 2012.

iv. A detailed explanation of the personal property division follows.b. Antiques

i. Mrs. Ida B. Mean will retain possession of the antiques in the home asthey either constitute gifts from her deceased grandmother or wereacquired by Mrs. Mean to suit her taste. Due to the personal andsentimental connection of these items to Mrs. Mean, both she and Mr.Mean have agreed that Mrs. Mean should keep them.

ii. At the time of this agreement, the antiques in question had a totalappraised value of$10,000.00.c. China Set


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ii. At the time of this agreement, the silverware set had a total appraisedvalue of$4,000.00.

e. Collectable Dollsi. Mrs. Ida B. Mean will retain possession her collection of porcelain dolls.

While these items were bought largely throughout the marriage, they wereselected by Mrs. Mean to suit her taste. Due to the personal andsentimental connection of these items to Mrs. Mean, both she and Mr.Mean have agreed that Mrs. Mean should keep them.

ii. At the time of this agreement, the doll collection in question had a totalappraised value of$2,500.00.f. Woodcarving Tools

i. Mr. Izzy U. Mean will retain possession his collection of woodcarvingtools. While these items were bought largely throughout the marriage,they were selected by Mr. Mean to for his woodworking hobbies. Due tothe personal and practicable nature of these items to Mr. Mean, both heand Mrs. Mean have agreed that Mr. Mean should keep them.

ii. At the time of this agreement, the doll collection in question had a totalappraised value of$1,500.00.

g. Misc. Toolsi. Mr. Izzy U. Mean will retain possession his collection of miscellaneous

tools, including but not limited to: chain saw; power drill; circular saw;reciprocating saw; belt sander; hammers; handsaws; pliers; wrenches;socket sets; shop-vac; toolboxes; nails, and etc. While these items werebought largely throughout the marriage, they were selected by Mr. Mean


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ii. At the time of this agreement, the hunting equipment in question had atotal appraised value of$4,500.00.

i. Misc.Personal Itemsincl. clothing, toiletries, personal belongings, etc.i. Mrs. Ida B. Mean and Mr. Izzy U. Mean have agreed that each party is

entitled to his/her own personal belongings, including but not limited to:articles of clothing;, photographs, knickknacks, toiletries, computers, cellphones, jewelry (except regarding the wedding rings, outlined below),and etc.

ii. The total appraised value of these items is unknown.THEREFORE, DIVISION OF PERSONAL PROPERTY IS NOT ATISSUE.

XI. Northwestern Airlines Frequent Flyer Milesa. Mrs. Ida B. Mean and Mr. Izzy U. Mean each have an airline miles account with

the Northwestern Airlines Frequent Flyer program. Because these accounts werecreated and maintained as separate accounts throughout the marriage, both Mrs.Mean and Mr. Mean agree that each party should retain his/her separate account.

b. Mrs. Mean agrees to keep the 450,670miles currently accumulated in herNorthwestern Airline Miles Account.

c. Mr. Mean agrees to keep the 375,055miles currently accumulated in hisNorthwestern Airline Miles Account.

d. In exchange for being provided with a detailed accounting of how the allegedmissing 200,000 miles from Mr. Means account were used, Mrs. Mean herebyagrees that she waives all right to any portion of the alleged missing miles or


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ii. At the time of this agreement, the 2011 Chevy Trailblazer had anappraised value of$23,121.00.

b. 1969 Ford Mustangi. Mr. Izzy U. Mean will retain possession of his collectable car, a 1969 Ford

Mustang. In doing so, Mr. Mean hereby agrees to transfer and assume anyinsurance payments and maintenance expenses related to the vehicle.

ii. At the time of this agreement, the 1969 Ford Mustang had an appraisedvalue of$395,000.00

c. 2011 SeaCraft Boati. Mr. Izzy U. Mean will retain possession of his 2011 SeaCraft Boat. In

doing so, Mr. Mean hereby agrees to transfer and assume any insurancepayments and maintenance expenses related to the vehicle.

ii. At the time of this agreement, the 2011 SeaCraft Boat had an appraisedvalue of$101,500.00

XIII. Wedding Rings- EngagementRing, Upgraded Wedding Ring and Wedding Banda. Engagement Ring

i. Mrs. Ida B. Mean will retain possession of the original engagement ringgiven to her by Mr. Mean.

ii.

At the time of this agreement, the original engagement ring had anappraised value of$1,000.00.

THEREFORE, OWNERSHIP OF ENGAGEMENT RING IS NOT AT ISSUE.


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c. The gold band of the upgraded wedding ring, along withthe wedding band worn by Mr. Mean, will be smelted down

into gold that will be used to design the custom pieces foreach of the children.

d. The large 4-carat center diamond and any excess scrapgold will be sold at its current fair market value (FMV)price to pay for the expenses associated with designing,smelting, setting, and casting the custom pieces for thechildren.

e. The appraisal of the fair market value of both the gold and4 carat diamond will be done by a local Jeweler within 30days of the date of the mediation (March 9, 2012).

2. Design of the Custom Jewelry Piecesa. The custom jewelry pieces will be designed by a Jeweler of

Mrs. Means choice.

b. Final approval of the design of the custom jewelry piecesis to be decided Mr. Mean.

3. Division of Excess Proceeds or Addi tional Costsa. Any proceeds that remain from the sale of the 4 carat

diamond and any scrap gold that remain after the custompieces are completed shall be divided equally (50/50)

between the Mrs. Mean and Mr. Mean.

b. In the alternative, any additional funds necessary to designor make the custom jewelry pieces for the children shall be


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necessary duplicate property (i.e. beds, dressers, clothing, toys) for bothhomes, splitting the cost equally (50/50) between them.

b. Mrs. Mean and Mr. Mean further agree that the children shall be allowed to takeany necessary property along with them when visiting the other partyshousehold. Said property shall return with the child at the end of the visit.

THEREFORE, DIVISION OF THE PROPERTY BELONGING TO THECHILDREN I S AT I SSUEAND SHOULD BE DETERMINED IN TANDEMWITH THE CHILD CUSTODY ISSUE.

ISSUE 2: DIVISION OF THE MARITAL DEBTS

I. Marital Debtsa. Loan from Ida B. Means Parents

i. Mrs. Ida B. Mean and Mr. Izzy U. Mean have agreed that the $10,000.00loan from Mrs. Means parents is a marital debt and must be repaid.

ii. Mrs. Ida B. Mean and Mr. Izzy U. Mean have agreed that this loan debtshall be divided equally (50/50) between them.

iii. To ensure a prompt and fair repayment, both Mrs. Mean and Mr. Meanhas agreed to repay their respective portions of the loan debt back to Mrs.Means parents within 30 days of the date of this mediation (March 9,

2012).

iv. To ensure each party has paid their respective portion in full, each partyshall provide the other party with a cleared copy of the check (or bank

d h i h h k i d d h d) h b


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iv. The dates and amounts of these payments will be determined based on thedue dates and payment policies of the Sears Credit Card Company.

THEREFORE, LIABILITY FOR THE SEARS CARD DEBT IS NOTAT ISSUE.

c. American Express Credit Cardi. Mrs. Ida B. Mean and Mr. Izzy U. Mean acknowledge that the debt

currently owed on the American Express Credit Card is a marital debt heldjointly by both of the parties.

ii. Mrs. Ida B. Mean and Mr. Izzy U. Mean agree that they are eachresponsible for 50% of the $15,500.00 debt currently owed on the card.

iii. The parties therefore agree to divide this debt, taking their respectiveshares of $7,750.00, and immediately begin making timely payments untilthe debt is paid off.

iv. The dates and amounts of these payments will be determined based on thedue dates and payment policies of the American Express Credit CardCompany.

THEREFORE, LIABILITY FOR THE AMERICAN EXPRESS CARDDEBT IS NOT AT ISSUE.

d. Dunhams Sports Credit Cardi.

Mr. Izzy U. Mean acknowledges that the debt currently owed on theDunhams Sports Credit card is a personal debt owed solely by him.

ii. As such, Mr. Mean agrees to assume sole responsibility for the DunhamsS C di C d d b f $2 670 00


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f. MasterCard Credit Cardi. Mr. Izzy U. Mean

acknowledges that the debt currently owed on the

MasterCard Credit card is a personal debt owed solely by him.

ii. As such, Mr. Mean agrees to assume sole responsibility for theMasterCard Card debt of $9,700.00.

THEREFORE, LIABILITY FOR THE MASTERCARD DEBT IS NOT ATISSUE.

II. Tuition and Educational Expenses for the Children of the Partiesa. St. Lukes Catholic Grade School

i. Mrs. Ida B. Mean and Mr. Izzy U. Mean acknowledge that the debtcurrently owed to the St. Lukes Catholic Grade School is a marital debtheld jointly by both of the parties.

ii. Mrs. Ida B. Mean and Mr. Izzy U. Mean agree that they are eachresponsible for 50% of the childrens current tuition and churchcontribution at St. Lukes.

iii. The parties further agree that they will each remain responsible for 50% ofthe childrens tuition and church contributions at St. Lukes through thechildrens matriculation from that school (6th grade).

iv. The parties therefore agree to divide this debt, taking their respectiveshares of the current tuition and church contribution of $8,800.00. Theparties agree that they will each pay their respective share of this debt

i hi 30 d f h d f hi di i (M h 9 2012)


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school. As the children matriculate from the St. Lukes Grade School, theparties have agreed that they will transfer the children into St. Johns

Catholic High School.ii. To secure a position for each child, the parties acknowledge that a deposit

of $600.00 per child will be due prior to enrollment into St. Johns School.The parties further acknowledge that a yearly tuition of $10,000.00 will bedue as the children enroll at St. Johns.

iii. Mrs. Ida B. Mean and Mr. Izzy U. Mean acknowledge that any depositand tuition debt to be paid to the St. Johns Catholic High School is a

marital debt held jointly by both of the parties.

iv. Mrs. Ida B. Mean and Mr. Izzy U. Mean agree that they are eachresponsible for 50% of the $600.00 deposit necessary to secure seats at theSt. Johns Catholic High School. Each party agrees to pay their respectiveportion of the deposit as it becomes due for each child.

v. Mrs. Ida B. Mean and Mr. Izzy U. Mean also agree that they are eachresponsible for 50% of the $10,000.00 tuition at the St. Johns CatholicHigh School. Each party agrees to pay their respective portion of thedeposit as it becomes due for each child

vi. The parties further agree that they will each remain responsible for 50% ofthe childrens deposits and tuition at St. Johns through the childrensmatriculation from that school (12th grade).

vii. To secure a seat for their daughter (Samantha Mean) in the upcomingschool year, the parties agree to equally divide the $600.00 deposit and$10,000.00 tuition and pay their respective share of this debt within 30days of the date of this mediation (March 9, 2012).


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ISSUE 3: SPOUSAL SUPPORT AND CHILD SUPPORT

I. Spousal Supporta. In exchange for receiving the marital home and her other property without

dispute, Mrs. Ida B. Mean agrees to waive any claims for spousal support.

b. Mrs. Ida B. Mean further agrees to not seek spousal support from Mr. Izzy U.Mean in any future action as long as the terms of this mediation agreement arecomplied with.

THEREFORE, PAYMENT OF SPOUSAL SUPPORT IS NOT AT ISSUE.

II. Child Custody and Child Supporta. Child Custody

i. A hearing to determine the Best Interest of the Children and Custody ofthe Children has been set for March 30, 2012 at 1:00pm before the Hon.Judge Rosemarie Aquilina.

ii. The parties acknowledge that this Honorable Court shall determine whichparent(s) shall receive physical and legal custody of the children and thenature of said custody (i.e. sole, joint, visitation).

iii. The parties acknowledge that this Honorable Court will make itsdetermination based on analysis of the Best InterestFactors outlined inMCL 722.23.

iv. The parties further acknowledge that the issues of Parenting Time,Vacations, and Overnight Stays will be determined by this HonorableCourt after the issue of Custody has been determined.


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ISSUE 4: MISC. ISSUESincl. Fees, Costs, Tax Deductions, and Review of Mediation

I. Attorney Fees and Court Costsa. Mrs. Mean and Mr. Mean have agreed that each party will be responsible for their

own attorney fees and court costs, except and unless otherwise is ordered by theCourt.

THEREFORE, THE ISSUES OF ATTORNEY FEES AND COURT COSTSARE NOT AT ISSUE.

II. Tax Deductionsa. Mrs. Ida B. Mean and Mr. Izzy U. Mean have agreed to the following with

regards to state and federal dependency exemptions for their children:

i. Each parent will claim two (2) children per year as a dependant on theirrespective state and federal income tax returns. The dependencyexemptions will so be claimed until the child in question reaches age 18,or as otherwise permitted by law.

ii. Each year, Mrs. Ida B. Mean will claim Samantha Y. Mean (age 13, DOB:10/31/1998) and Wendy Y. Mean (age 9 , DOB: 4/25/2003) as dependantexemptions on her state and federal income tax returns.

iii. Each year, Mr. Izzy U. Mean will claim Samuel I. Mean (age 12, DOB:12/27/1999) and William I. Mean (age 9, DOB: 4/25/2003) as dependantexemptions on his state and federal income tax returns.

THEREFORE, THE DIVISION OF DEPENDENCY TAX DEDUCTIONSARE NOT AT ISSUE.

i f i i


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STATE OF MICHIGAN )

)ss

COUNTY OF INGHAM )

Sworn and subscribed to before me this16th day of March, 2012.

Ima NotaryIma Notary, Notary PublicCounty of Ingham, MichiganMy commission expires: 1/1/2014

_______________________________NANCY R.EATON(P76191)Attorney for the Defendant

Dated:__________________,2012

______________________

APRYL D.MILLER( P12345)Attorney for the Plaintiff

Dated:March16, 2012


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ATTACHMENT INDEX

Attachment ACompleted Mediation Chart


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Please Note: This is a *sample* Complaint for Divorce created for a course assignment. The client names and facts contained herein were provided as part of ahypothetical case and do not represent actual parties.

Numbers in parenthesis [( )] are negative numbers (i.e. debts or encumbrances). 23

MEDIATORS PROPOSED PROPERTY VALUATION AND DISTRIBUTION

MEDIATED

OWNERSHIP

MEDIATED Distribution Attach

Description Valuation

Date

Plaintiff's

Value

Defendant's

Value

Encumbrance Equity Plaintiff Defendant Plaintiff Defendant

Martial home1. Mortgage2. Loan

2/21/2012 15,000 15, 000 (500,000)1. (400,000)2. (100,000)

750,000 X

XXX

- P getshouse,pays allprop tax,insurance,etc.

-P repays ofparent loanamt w/in30 days

-D takes 40%of equitypaid outPD over 7yrs

-D paysremainingmortgagebal. over theremaining

life of themortgage (10yrs)

-D repays parent loanamt w/in 30days

- D paysmovers tohelp moveGrandparents(Ps parents)into home.

401K 2/29/2012 80,000 3,000,000 X X P keeps$80K + Ds andPs earnedinmarriage

D keeps allpre-maritalportion + Ds and Psearned inmarriage

Lesko benefits 2/29/2012 0 625,000 X P takes 0 D keeps


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Retirementaccount

2/29/2012 442,000 3,600,000 X X P keepsportion performula =$442K

D keepsportion performula=$3.6mill

Life Insurance 2/29/2012 150,000

OR1,000,000

150,000

OR1,000,000

X X Eachkeeps own

Each keepsown

Joint BankAccount *

2/29/2012 PreviouslyDivided*

PreviouslyDivided*

X X Kept asprev.divided

Kept as prev.divided

Inheritance 2/29/2012 250,000 (10,000) Inheritance ownership to be determined by Ct. peragreement of parties

Upgradedwedding ring

2/25/2012 2,500 P keepsoriginalengage-ment ring+ small

diamondsfromupgradedring

Per D,custompieces madefor eachchild with

upgradedring.

-P keeps originalengagement ring + smalldiamonds from upgradedring

-Upgraded band andbirthstones made into giftsfor childrengold melteddown; designed into piecesfor each child; each childgets respective birthstonein their piece.

-Big diamond sold at FMV(appraisal date w/in 30days of mediation) andproceeds to be used to

design/make custom piecesfor children.

-Any residual proceedsfrom Big diamond orexcess gold split 50/50between partiesOR- anyadditional cost needed todesign/make custom pieces


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for children split 50/50

-Plaintiff picks jeweler andhelps design pieces.

-Plaintiff may selectappraiser for FMV of Bigdiamond; Defendant getsfinal approval onceappraisal made.

-Plaintiff and Defendantwill hold items for childrenuntil 18th birthdaythenboth parties will presentpiece to child.

PersonalProperty

2/25/2012 10,000 10,000 X X P takes

hers

D takes his

Antiques 2/25/2012 10,000 X P keepsChina 2/25/2012 2,000 X P keeps

Silverware 2/25/2012 4,000 X P keepsCollectibledolls

2/25/2012 2,500 X P keeps

Woodcarvingtools

2/25/2012 1,500 X D keeps

Tools 2/25/2012 3,500 X D keeps


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MEDIATORS PROPOSED PROPERTY VALUATION AND DISTRIBUTIONMEDIATED

OWNERSHIP

MEDIATED Distribution Attach


Date

Plaintiff's

Value

Defendant's

Value


Hunting Equip 2/25/2012 4,500 X D keepsNorthwest flyermiles

2/29/2012 450,670 575,055 (375,055)missing orused miles

X X P keepsher miles(her acctonly).

-P agreesto notpursuemissingmiles ifgiving

detail ofwheremiles wentw/in 7days ofmediation

D keeps hisrespectivemiles

-D agrees toprovide Pwithaccounting ofallegedmissingmiles w/in 7

days ofmediation

2011 ChevyTrailblazer

2/25/2012 23,121 X P keeps;must payinsurance,etc.

1969 FordMustang

2/25/2012 395,000 X D keeps;must pay

insurance,etc.; mustremove fromon-propstorage.

Boat 2/25/2012 101,500 X D keeps;must payinsurance;must removefrom on-prop


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storage.

SUBTOTAL

Please list the

following:1) Debt to

each party2) Asset

(positive $)to eachParty-

3) AnyPropertydivided(and itsvalue)

Property

to Ida:

Property

to Izzy:

Debts:

+$:

$______Total ToPlaintiffIda

Debts:

+$:

$________Total ToDefendantIzzy


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MEDIATORS PROPOSED PROPERTY VALUATION AND DISTRIBUTION MEDIATED Ownership Purposed Distribution Attach


Date

Plaintiff's

Value

Defendant's

Value


Martial Bills

1. Sears**2. Dunham's

3. Visa

4.Mastercard

5.American

Express***

6. Tuition -

grade

school****

7. Tuition-

High school

2/25/2012

(6,900)jointtotal

(5,400)

(15,500)jointtotal

(8,000)+(800) cont

OR(10,000)

(10,000) +(600dep)

(6,900) jointtotal(2,670)

(9,700)

(15,500) jointtotal

(8,000) +(800) cont

OR(10,000)

10,000) +(600dep)

X

X

X

X

X

XX

X

X

X

X

P splits

Sears debtjointly w/D

P takesVisa debt

P splitsAE debtjointly w/D

-P splitsGradeSchooltuitionjointly w/D- yr amt

to be paidw/in 30days.- P to pay tuitionas duethroughHS grad.for eachchild.

D splits

Sears debtjointly w/ P

D takesDunhamsdebt

D takes MCdebt

D splits AEdebt jointlyw/ P

- D splitsGrade Schooltuition jointlyw/ P- yr amtto be paidw/in 30 days.

-D to pay tuition as duethrough HSgrad. foreach child.D continuesto pay through HSgraduation.


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SUBTOTALPlease list thefollowing:1) Debt to

each party2) Asset

(positive $)to eachParty

Debts:

+$:

$______TotalPlaintiffIda

Debts:

+$:

$________Total ToDefendantIzzy

Additional Mediated Items- incl. any distributions or agreements made during mediation that do not otherwise appear on the chart:

Property of the Children: Parties agree that property belonging to the children goes to whichever party gets Physical Custody of the children; Children may bring anyneeded items with them to visitations and take items back upon return. If Ct. grants joint physical custody, items will be divided equally so children have personal effects atboth homes and any necessary duplicate items will be purchased by both P and D (equal share).

Child Tax Credit:Each party will get take 2 children for tax credit purposes per year. To ensure equal division and equal age out from Tax Credit, P will take credits forWendy (age 9) and Samantha (age 13); D will take credits for William (age 9) and Samuel (age 12). Each party will claim the respective children each year until age 18 oras otherwise permitted by law.

Spousal Support: In exchange for receiving the marital home and her other property without dispute, P agrees to waive any claims for spousal support. P further agrees notto seek spousal support from D in any future action as long as the terms of this mediation agreement are complied with.

Au Pair: In exchange for D agreeing to vacate marital home and pay movers to relocate childrens Grandparents (Ps parents) into the home, P agrees to get rid of the fulltime, live in au pair. P and D further agree that if either party should need substitute, temporary, or part-time childcare for the children, P and D each party will pay for theirrespective childcare at his/her sole expense.


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NOTES:*The Joint Bank Account contained a set amount of money placed in there by both parties. The fact pattern does not specify theamount of the account. For the mediation, presume that the parties have already equally divided any cash that was in the jointaccount. (Meaning that you do not need to mediate this).*** The Sears Card is held Jointlyi.e. in the name of both parties. At this time, the debt totals $6900. The parties can divide this

equally (i.e. each paying $3450) or in any other manner they so decide.*** The American Express card is held Jointlyi.e. in the name of both parties. At this time, the debt totals $15,500. The partiescan divide this equally (i.e. each paying $7750) or in any other manner they so decide.****The Tuition Figures: The $10,000 tuition figure represents the grade school tuition amount that will be due if the parties do notpay the tuition and contribution by the end of the school year. When mediating either use the $800 church contribution + the $8000grade school tuition OR the $10,000 grade school tuition. The figure used will depend on when the parties agree to pay the tuition(i.e. $800 contribution + $8000 tuition IF parties agree to pay before school year ends OR $10,000 if parties agree to pay the tuitionanytime after the end of the school year.)

divorce -post mediation property agreement w chart

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