Fri, August 24, 2012
Entertainment > Celebrity

Divorce settlement: I got out, cheap!

2012-08-24 09:47:59 GMT2012-08-24 17:47:59(Beijing Time)

"I got out...CHEAP!" (Photo/Agencies)

Katie Holmes walked away with nothing other than rather modest child support in her divorce from Tom Cruise.

Sources familiar with documents filed with the court tell that Katie got no lump sum payout, which is consistent with the prenup which essentially shuts her out of Tom's $250 million fortune.

As for spousal support .... Katie got zip.

Katie will get money for child support, but it's way less than a judge could have ordered.  According to the settlement, Tom must pay Katie $400,000 a year in child support.  That comes to $33,333.33 a month.  The money will be paid by electronic transfer.

Tom must pay Suri's support for the next 12 years -- until she turns 18.  All tolled, that comes to $4.8 million.

Tom must also pay Suri's expenses, including medical, dental, insurance, education, college and extracurricular costs.

And ... both Tom and Katie agree that Suri will NOT attend a "residential school" from now through her high school years.  Translation -- she can't be shipped off to boarding school -- Scientology or otherwise.

Katie could have gotten more child support under New York law if the case went to trial, but both she and Tom decided to settle quickly.

We reported early on ... Katie said she wanted nothing from Tom other than a divorce -- well that's exactly what she got.



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