Memorandum of Understanding
What is a Memorandum of Understanding?
The end product of a successful mediation is a document called Memorandum of Understanding, or MOU. Your professional mediator will take all agreements made during the mediation process and put them all on paper.
In a divorce mediation, The Memorandum of Understanding will contain such agreements as: property, asset, and liability division. Alimony and any other financial agreements. If children are involved, the MOU describes in detail the Co-Parenting plan. This plan should include such items as, but is not limited to, child custody and visitation schedules, child support, education, and health insurance.
The contents of a Memorandum of Understanding can and will vary based the unique circumstances of each couple. Any issue of concern, and potential concern, can be addressed and included in the Memorandum of Understanding.
In a mediated divorce the MOU is filed with the court as the final divorce agreement. After signing the document, it becomes a legally binding contract and can be used in court when there is a breach of that contract.
Contact S. M. Edwards & Associates, LLC to find out how mediation can save you time and money.
