Details Emerge in Cruise, Holmes Divorce Settlement

by | August 24, 2012 at 10:07 AM | Celebrity, Celebrity Justice, Celebrity Relationships, General

Tom Cruise and Katie Holmes (Photo by Jason Merritt/Getty Images)

Tom Cruise and Katie Holmes’ surprise divorce has been finalized, and the result isn’t nearly as explosive as first expected.

According to TMZ,  Holmes will not receive any part of Cruise’s $250 million fortune in a “lump sum” divorce settlement, nor will she receive any spousal support from the 50-year-old superstar.

Cruise has, however, been ordered to pay child support for the couple’s six-year-old daughter Suri.

The actor will reportedly transfer $400,000 a year to an account in Katie’s name until Suri turns 18, which equates to about $4.8 million overall. Breaking down the numbers, Holmes will receive approximately $33,000 per month to care for her pint-sized fashionista.

Tom is also responsible for any of Suri’s extra expenses, including medical, dental, insurance and education.

Cruise and Holmes have also agreed that Suri will not attend a “residential school” until she reaches college, which means she cannot be sent to a boarding or Scientology-focused institution.

It is believed that Katie could have gotten even more child support had the divorce gone to court, but the 33-year-old chose a quick settlement over any additional cash.

Holmes allegedly blindsided Cruise with her divorce announcement in late June, but the pair, who wed in 2006, settled within two weeks. The divorce was officially finalized on Wednesday.

 

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