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Guiding People Through Divorce With Grace And Dignity For More Than 30 Years

Guiding People Through Divorce With Grace And Dignity For More Than 30 Years

No money for holmes daughter may receive millions

On Behalf of | Nov 16, 2015 | Family Law |

The news media had already run rampant with speculation of how the divorce between Katie Holmes and Tom Cruise would proceed. Many expected a stressful, drawn-out split that could see one or both parts of the celebrity power couple painted in a poor light, but, unexpectedly, the couple worked out a settlement swiftly. This quick split could serve as an example for couples divorcing in Connecticut.

Holmes was reportedly set to receive $50 million from Cruise. This has since been debunked. Though Holmes will not receive that sum, Cruise will be paying more than $10 million in child support over the next 12 years. The couple shares a 6-year-old daughter. Experts believe that the child was essential to the speed of the amicable split, and reports indicate that a co-parenting plan will be set into place.

Unlike her daughter, Holmes is expected to receive nothing from Cruise. This is due to a prenuptial agreement that the couple signed. In that agreement, there was a stipulation that said if Holmes initiated the divorce, which she did, she would not receive money from Cruise. Many believe that the couple’s prenuptial agreement is the reason for the speed of the settlement.

Prenuptial agreements should be seen as a good faith effort by couples to put a plan in place just in case a divorce does happen. The agreement saves time and money down the road.

In addition to the daughter of Cruise and Holmes, Cruise has fathered two other children. Both were mothered by actress Nicole Kidman, his previous wife. Before that, the actor was married to another woman, making his divorce with Holmes his third. Cruise was Holmes’ first husband.

Source: Fox News, “Katie Holmes won’t get a thin dime in divorce, but daughter will get millions, report says,” July 13, 2012