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Ohio readers learn details of TomKat divorce settlement

Celebrity divorces make headlines in Ohio and elsewhere for a variety of reasons, often stemming from conflict over the division of property between spouses who are both famous and wealthy. Many expected this to be the case in the recent divorce between Tom Cruise and Katie Holmes. However, in this celebrity divorce case, the terms of the dissolution appear to have been settled quickly and without a great deal of contention between the two. Reports suggest that when it came to splitting their assets, Holmes received very little of her husband's estimated $250 million net worth.

Tom Cruise became famous in starring roles in a variety of movies over his decades-long career. His ex-wife, Katie Holmes may be familiar to Ohio readers from her role in the long-running television show "Dawson's Creek". Together they were one of the entertainment industry's most watched couples.

Their split was a surprise to many, none more so than to Cruise, some reports say. However, the divorce settlement was reached only weeks after the paperwork was initially filed. This may be in part because Holmes agreed to accept almost none of the large fortune amassed by Cruise over his Hollywood career. Recent reports state that she will be to keeping the gifts that she received during their 5-year marriage, which some estimate are valued in the millions. She will also receive approximately $4.8 million in child support.

Like many Ohio couples that choose to divorce, the couple in this case apparently wanted to end the process as quickly and amicably as possible. Though not every couple can agree as quickly on the division of assets, many strive to make the process as painless as possible. This case serves as proof that a collaborative approach can result in a speedy resolution, but for high asset couples who are not able to come to an agreement on the division of marital property, having a comprehensive understanding of divorce statutes and court procedures can greatly aid in a desirable outcome.

Source: Huffington Post, "Katie Holmes Keeps Millions Of Dollars' Worth Of Jewelry From Marriage To Tom Cruise: REPORT," Aug. 27, 2012

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