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Cruise, Holmes’ daughter to receive millions in child support

When Tom Cruise and Katie Holmes divorced earlier this summer, they managed to get through settlement negotiations quite quickly. In fact, as we reported last month, they settled the divorce within about two weeks. At the time, not a lot of information was made public about the terms, although it was widely known that the couple’s daughter, Suri, would see the benefit child support payments made by Cruise.

Now it’s becoming clearer how much she will stand to receive. Although Holmes is barred from getting alimony or other payments because of a prenuptial agreement the estranged couple signed, Suri will get millions in child support.

According to media reports, the ex-couple’s 6-year-old daughter will receive nearly $5 million in child support payments over the next 12 years, up until she turns 18. That means the average monthly payment will come to about $33,333. That adds up to about $400,000 per year.

Cruise, who recently turned 50, is thought to be worth about $250 million. Holmes, who is 33, does not have nearly such a fortune, is probably doing just fine financially as well.

Cruise and Holmes were married for several years before Holmes filed for divorce in June, a move that apparently surprised Cruise, who had recently been busy promoting his film “Rock of Ages.” Their divorce was unusual in its speed; many celebrity divorces or custody disputes take much longer to resolve. Their attorneys reportedly negotiated over a weekend to get things resolved.

Source: Reuters, “Suri cruises to millions in ‘TomKat’ divorce: report,” Aug. 24, 2012

• Our firm handles similar situations to what was discussed in this post. If you would like to learn more about our practice, please visit our Englewood child support page.

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