A Participant’s Guide to Financial Disclosure

Mediation isn’t just about talk; it’s about making a plan for your future. To do that, the mediator needs a clear picture of everything you own. You will be asked to fill out an asset list. Here is how to handle each step of that process:

1. Select the Asset Type

First, you’ll categorize what you’re talking about. This helps keep the conversation organized. Common types include:

• Real Estate (The family home, land, or rentals)
• Vehicles (Cars, boats, or motorcycles)
• Financial Accounts (Savings, checking, or stocks)
• Retirement (Pensions, 401ks, or IRAs)
• Personal Property (Jewelry, electronics, or furniture)

2. Name and Describe

Give the asset a clear name so everyone knows exactly which one it is. Instead of just writing “Car,” write “2022 Toyota RAV4.” This prevents confusion if there are multiple similar items.

3. Provide the Estimates (The “Market Value”)

This is what the item is worth today, not what you paid for it five years ago.

• Tip: You don’t need a professional appraisal right away. Use your best “good faith” estimate based on websites like Zillow for homes or Kelley Blue Book for cars.

4. Money Owed (The “Debt”)

An asset isn’t just what it’s worth; it’s also what you owe on it.

• The Math: If your house is worth $400,000 but you have a mortgage of $350,000, the “equity” (the actual value you can split) is $50,000.
• Make sure to list the current balance of any loans or liens attached to the asset.

5. Your Proposed “Split”

You will be asked how you think the asset should be divided. You might suggest:

• Selling it and splitting the cash.
• One party keeps it while “buying out” the other person’s share.
• Trading assets (e.g., “I keep the house, you keep the retirement account”).

What Happens After You Submit?

Once both of you have submitted your lists, the mediator will put them side-by-side. This is called a Comparison View.

Handling Disagreements

It is very common for two people to see things differently. You might disagree on:

• The Cost: One person thinks the house is worth $500k, the other thinks $450k.
• The Debt: One person remembers a loan that the other says is already paid off.
• The Split: Both people might want to keep the same item.

Don’t panic if your lists don’t match. Disagreements are not “failures”—they are simply the agenda for your mediation session. The mediator will help you look at the evidence, talk through the differences, and find a middle ground that works for both of you.

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