The Houston Family Law Blog

TomKat Settlement Details: Katie Holmes Is Happy

The TomKat marriage actually ended six months before their divorce came into the public eye, reports The Huffington Post.

But it looks like it's ending well for Katie Holmes. According to HuffPo, Holmes is very happy with the settlement reached between herself and ex-hubby Tom Cruise, despite the fact that the prenup locked her out of her ex-husband's massive fortune.

The Hollywood mega-couple filed for divorce June 29, five years after the couple tied the knot in Italy. The couple had a prenuptial agreement, signed months before the wedding, reports HuffPo.

For a while following the divorce, details were scarce on the settlement agreement reached between the parties. But now, details are emerging on the child support Tom Cruise is obligated to pay for the support of the couple's daughter Suri.

According to TMZ, Cruise must pay Holmes $4.8 million over the next 12 years. This breaks down to $400,000 a year until Suri's 18th birthday.

The settlement also says that Cruise must pay for Suri's educational expenses and health expenses.

Interestingly, the agreement also forbids Suri from attending a "residential school," which includes a Scientology school that Tom Cruise had in mind.

As TMZ reports, the prenup kept Holmes from taking a cut of Tom's fortune. Tom Cruise is said to be worth $250 million. Katie didn't get any alimony, nor did she get any lump sum payout.

Prenups don't always work out that well. In Texas, there are many requirements for a valid prenup. For starters, there needs to be full disclosure on the finances of both parties. Also important is the requirement that each party have a Texas lawyer review the agreement.

For one of the highest paid actors in Hollywood, a prenuptial agreement was not an option, it was a necessity. Luckily for Tom, his prenuptial agreement was rock solid. And his ex-wife was not litigious.

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