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Tom Cruise, Katie Holmes Divorce Settlement Made Public

By Nottage and Ward on September 14, 2012

The Holmes-Cruise divorce did not just make headlines because of the couple’s celebrity status, but because their divorce was settled within a matter of weeks instead of the months and even years that other celebrity divorces can take. The terms of the couple’s divorce agreement was private at the time, but has now been released to the public, according to The Huffington Post.

Divorce documents show that Katie Holmes will receive child support, no spousal support, and practically nothing of Tom Cruise’s $250 million fortune, as was determined by their prenuptial agreement. Cruise will pay Holmes $4.8 million over the course of the next 12 years as child support, until their daughter, Suri, turns 18. That amounts to $400,000 per year. Cruise is also responsible for any health, dental, education, or other expenses for Suri. The divorce settlement prohibits Suri from attending any type of boarding school.

Although Holmes allegedly blindsided Cruise in June when she filed for divorce, it seems that they’ve resolved any issues in record time. When both parents are committed to truly coming to an arrangement that is in their child’s best interests, the divorce settlement becomes much easier to negotiate, unless, of course, each parent has a completely different idea of what their child’s best interests are.

The Holmes-Cruise divorce, though a celebrity divorce, is a good example of how much more efficient the divorce process can be when both parties are committed to one main/common goal, such as coming to an agreement that suits the best interests of their children.

If you are planning on getting a divorce in Illinois, the high-profile divorce attorneys in Chicago at Nottage and Ward can help you obtain a divorce settlement that is in the best interests of you and your family. Call us today for a consultation at (312) 332-2915. You can also visit our Testimonials page to see how former clients have felt about our services.

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