Frequently, despite everyone’s efforts in preparing the final agreement, omitted issues arise at the time the final orders are being drafted. The following provides a basic checklist of issues to be considered and resolved in order to be sure you have resolved all of the issues and reached a full settlement:
A. Property:
1. Real Estate
a. Identification (legal description)
b. Appraised value
c. Encumbrances (Liens)
d. Mortgages
e. Line of Credit
f. Provisions for sale if it will be sold
2. Bank Accounts
a. Savings
b. Checking
3. Investment Accounts
a. Stocks
b. Bonds
c. Mutual funds
d. Other
4. Pension and Retirement Accounts
a. IRAs
b. 401Ks
c. Pensions
d. Social security
e. Disabilities
5. Business
a. Appraised values
b. Receivables
c. Assets
d. Status (partners, corporation, etc.)
6. Personal property
a. Cars
b. Other vehicles (such as boats)
c. Furniture
d. Jewelry
e. Collectibles
f. Values
7. Debts
a. Community
b. Separate
c. Post-separation
8. Characterization
a. Community Property
b. Separate Property
B. Parenting of Children:
1. Who is primary residential parent?
2. Residential Schedule:
a. School days and weekends
b. Holidays and birthdays
c. Summer
d. Vacations
e. Process to change the schedule
f. Travel limitations
3. Decision Making:
a. Joint or sole
b. Issues/subjects needing a decision
c. Process for making a decision
d. Process to notify the other parent
e. Dispute resolution
4. Dispute Resolution:
a. Format
b. Designated person
c. Process to commence
d. Allocation of payment
e. Whether the payment can be reallocated
C. Child Support:
1. Income of Parties
a. Gross income
b. Deductions (pension, union dues, tax exemptions)
c. Sources of income
d. Proportional shares
2. Shared Expenses
a. List of expenses to be shared, such as private school, child care activities, tutors, sports, etc.
b. Process to decide which expenses are shared
c. Whether shared expenses are included in the Child Support Worksheet
d. Payment of health insurance (medical, dental, vision)
e. Which parent carries the insurance
f. Process to resolve disputes
3. Monthly Payment
a. Amount
b. Date(s) due
c. Recipient of payment
d. Process for payment of fluctuating expenses, such as child care or uninsured medical expenses
4. Post secondary expenses
a. Whether you will contribute to post high school (college) expenses
b. Expenses to be shared
c. How shared
d. Duration
e. Public or private
5. Miscellaneous
a. Life insurance to ensure payments
b. Adjustment provisions