Mediating issues involving children and divorce in Boca Raton initiates an amicable process to help resolve current problems and concerns. Many such issues related to children and divorce in Boca Raton are financial in nature and can be worked out through the collaborative process of mediation if both parties fully engage in the process. Some provisions to consider in the mediated settlement agreement include:
If one spouse will pay spousal support and/or child support, it is important to include a provision requiring the spouse to maintain life insurance naming the recipient as the beneficiary in case the paying spouse dies while still obligated. Additionally, it is worth considering a provision requiring the spouse to have disability insurance in case an accident would hinder the spouse’s ability to make such payments. This may be best when the spouse is required to name the recipient spouse as an irrevocable beneficiary and provide proof of the policies remaining in effect in order to prevent a situation in which the spouse stops paying on these policies and the necessary funds are not available when the spouse dies.
If the parents live far away from each other, they may want to consider how to assign travel expenses related to the children. They may agree to alternate payment for travel expenses or for each spouse to cover his or her own expenses. They may also want to include a provision regarding relocation and how travel expenses will be handled in this situation.
The spouses may also want to lay ground rules for when a change may become necessary in their plans, such as if one of the spouses loses his or her job involuntarily, suffers a serious illness or injury or otherwise has a dramatic change that can affect his or her finances. Establishing that mediation is the preferred method of handling such a modification puts a plan in place before any such disaster strikes.