AceShowbiz -

Hot news, Nick Lachey and Jessica Simpson are close to divorce settlement. According to a report from TMZ it is said that the former "Newlyweds" stars are inching closer to settling up and finalizing their divorce.

The legal documents, signed by both Simpson and Lachey and filed in L.A. County Superior Court, show that besides asking for a retired judge to be appointed specifically to enter a divorce decree, the pair also are asking to "bifurcate" the divorce case, meaning the divorce can become final and the parties can then deal with the messy financial matters separately.

The documents further mentions that retired Judge Dana Senit Henry be appointed "for the sole purpose of conducting the hearing, if any, with respect to the bifurcated issue of the termination of marital status." The documents, in fact, need a "sign off" from the presiding judge before it becomes official.

As TMZ first reported, Jessica and Nick are worlds apart on how their property will be divided. Under California law, all earnings and most other assets acquired during their marriage are divided 50/50. Jessica, who has earned $10 millions, has offered Nick a scant $1.5 million to walk away from the marriage. Nick, however, has balked at that amount. What comes next is probably the stage for a court battle over money.