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Tips on preparing a balance sheet for a family law mediation – Part 3 of 5

by | Mar 12, 2024 | Family Law

Mediation is a useful alternative dispute resolution method that can facilitate the parties to a dispute to reach a mutually agreeable solution without contesting the issues before a judge. You may agree to attend private mediation prior to any court proceeding, or you may be ordered by the court to attend mediation when a court proceeding is already on foot. Nevett Ford presents a series of brief tips on preparing for a mediation.

Tips on preparing a balance sheet

This document is for financial matters and should list out all the assets, liabilities, superannuation, and financial resources of the parties. You can download an empty form from the Federal Circuit and Family Court of Australia’s website. Indicate which items are currently under your name, which items are under the other party’s name, and which items are in joint names. Reaching a consensus over the values of the items prior to mediation can enable the parties to have a more productive and efficient negotiation during mediation. You may consider jointly engaging an expert to value major assets if you and the other party have diverging views on how much they are worth.

To discuss your particular situation, please contact our family law team on 03 9614 7111 or melbourne@nevettford.com.au.