Tom Cruise's 'cheap' divorce: Katie Holmes receives just $400,000 a year in child support payments from multi-millionaire ex-husband
14:39 GMT, 24 August 2012
Katie Holmes was awarded just $400,000 a year in child support payments in her divorce settlement from Tom Cruise, it has been revealed.
The 33-year-old former Dawson's Creek star signed a prenuptial agreement when she married the Hollywood star in 2006 which excluded her from his $250 million fortune.
According to TMZ, Katie will receive no spousal support from the Top Gun star, however he is required to pay over $33,000 a month in child support for their six-year-old daughter Suri until she turns 18.
Divorce settlement revealed: Katie Holmes will receive no spousal support from former husband Tom Cruise
As they were: The couple back in February; the pair presented themselves as the perfect Hollywood family
Cruise, 50, will also pay for Suri's medical and dental expenses as well as her insurance, education costs and college tuition. The money will reportedly be paid by electronic transfer.
The couple also agreed that their daughter will not attend boarding school, shooting down reports that Suri would be sent to a school which focused on Cruise's religion, Scientology.
Katie will have sole custody of Suri, however Cruise was granted 'meaningful' visitation rights.
If their marriage had lasted more
than 11 years, Katie, who earns a considerable amount less than her
former husband, would have received half of Cruises’ $250 million
'The case has been settled and the agreement has been signed,' her attorney told E! News recently.
'We are thrilled for Katie and her family and are excited to watch as she embarks on the next chapter of her life.
'We thank Tom's counsel for their professionalism and diligence that helped bring about this speedy resolution.'
Katie will have sole custody of Suri, however Cruise was granted 'meaningful' visitation rights
The settlement came just two months after Katie sensationally lodged the legal papers to end their five-year marriage.
Citing 'irreconcilable differences' for the split, the actress requested sole legal custody and 'primary residential custody' of Suri.
'We are committed to working together as parents to accomplish what is in our daughter Suri's best interests,' the former couple said in a joint statement.
'We want to keep matters affecting our family private and express our respect for each other's commitment to each of our respective beliefs and support each other's roles as parents.'
Meanwhile it has been reported that Cruise, who is currently filming the movie All You Need Is Kill in London, has thrown himself into work since the breakdown of his marriage.
Daddy's girl: Tom will pay for Suri's medical and dental expenses as well as her insurance and education
Speaking to Grazia a source said: 'Tom's friends and family have urged him to take a break, but he has brushed off their concern.
'He is refusing to slow down and is trying to soldier on. He doesn't seem to be himself. He hasn't been working out like he normally does and doesn't appear to be eating well at all. His clothes just hang off him.'
The source also told the magazine: 'His way of dealing with this is to throw himself into his work, but as a result he's not looking after himself, and he risks cutting himself off from people who care about him and want to make sure he's OK.'
Tom has two other children Connor, 17, and Isabella, 20, from his marriage to actress Nicole Kidman.
It's all over: Tom and Katie were married in a lavish ceremony in Italy in November 2006
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