Attorney Todd Dwire speaking with staff member in conference room

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Settlement reached in Holmes/Cruise divorce

On Behalf of | Jul 12, 2012 | Firm News |

Just two weeks ago we posted about the surprising announcement that former Dawson’s Creek star Katie Holmes filed for divorce from action star Tom Cruise. Even more surprising is that despite some very complex assets, the two seem to have already reached a settlement.

Some news sources are reporting that the settlement was predetermined in large part by a detailed prenuptial agreement, which we discussed briefly in our first post on this divorce case. Although most Minnesota couples don’t have the same complex assets and property holdings that Cruise and Holmes likely share, the ease of coming to an agreement shows one of the many benefits of having a well-prepared prenuptial agreement.

Many people think that prenups are not romantic or set a sour tone for the start of a marriage. However, the conversation that couples need to have in order to create that sort of agreement can help facilitate an important discussion on expectations for the marriage and relationship. And despite their detailed agreement, the Cruise/Holmes wedding was widely seen as a fairytale event, full of romance and held in a castle in Italy.

Another major issue in this divorce was custody of the couple’s daughter Suri. Holmes requested full physical custody of the six-year-old and reports indicate that she got it. The terms of the settlement give Cruise meaningful parenting time and discretion over childcare providers that they hire to help each parent. Many Minnesota families also struggle to find a custody arrangement that gives each parent ample time and involvement with their children, with many reaching similar compromises about how to ease the transition between parents.

Source: Los Angeles Times, “Katie Holmes-Tom Cruise divorce says who picks Suri’s nannies,” July 12, 2012.


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