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Negotiating a divorce settlement

Sloth
Sloth © Juan Nel/Shutterstock.com

Inertia, a longing for the status quo and ultimately procrastination can stifle divorce proceedings. To combat sloth, divorce experts recommend parties move forward in negotiating a divorce settlement and take control of their financial futures.

The first crucial step is to get organized, says Bradley H. Bofford, managing partner at Financial Principles in Fairfield, N.J. "Ascertain what your total assets are and where they are. Then make copies of all your financial records, including bank and investment statements, tax returns, insurance policies, deeds and so forth," says Bofford.

Once the division of assets begins, he recommends considering mediation as a low-cost alternative to litigation. "Working with a mediator can help couples come to an amicable agreement quicker and reduce expensive attorney's fees associated with a drawn-out battle for property," says Bofford.

Remember, the longer you procrastinate, the more you stand to lose. So overcome the slothful excuses and take action to get the process completed as thoroughly, amicably and quickly as possible.

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