The divorce between Katie Holmes and Tom Cruise made national news and the quickness of their divorce settlement got just as much media attention. The media attention primarily focused on the short amount of time in which the couple reached a divorce settlement.
It was speculated the divorce settlement was completed in such a short amount of time due to the couple’s prenuptial agreement that presumably covered the financial aspects of the divorce. Since the divorce happened so quickly, the question remained whether Katie Holmes walked away from the divorce with any financial assets.
Initial reports regarding the divorce indicated Katie Holmes did not get much, in terms of financial assets, due to the couple’s prenuptial agreement. Although the couple may have had a prenuptial agreement that limited Katie Holmes’ entitlement to financial assets from the marriage, it has been reported she did not leave the divorce empty handed.
There are several avenues that will provide financial assets to Katie Holmes after the finalization of her divorce. The first avenue is the child support for the divorced couple’s minor daughter. It was reported Tom Cruise will pay $4.8 million to Katie Holmes in child support over the next four years.
In addition to child support, Katie Holmes may have also kept millions of dollars of gifts, which Tom Cruise gave her during their marriage. The gifts may include designer handbags, jewelry, and other similar types of gifts. An example of a larger gift was a pair of diamond earrings that Tom Cruise gave Katie Holmes for her birthday that have an estimated value of $500,000.
Although Katie Holmes may not have received traditional spousal support, the estimated value of her gifts may have been a contributing factor in the quick divorce.
Source: The Huffington Post, “Katie Holmes Keeps Millions Of Dollars’ Worth Of Jewelry From Marriage To Tom Cruise,” Aug. 27, 2012
Ann A. Thomson (Seal Beach family law attorney) can help. Please call 562-431-4333 or contact her online today.