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Divorce between Cruise and Holmes apparently settled

On behalf of The Walters Law Group, Ltd. posted in Child Custody on Wednesday, July 11, 2012.

Last week we wrote about the pending divorce between Tom Cruise and Katie Holmes. At that point in time it appeared to Chicago area residents, and others paying attention throughout the country, that each side was readying for a long hard battle, the centerpiece of which was most likely who would have custody of their 6-year-old daughter.

In a testament to how quickly things in life can change, this week there is news that it may, for the most part, be over. Both sides have announced that a settlement agreement regarding the matter has been reached. This news comes less than two weeks after Holmes filed for divorce in the state of New York.

Most would agree that the settlement was hashed out in record time, particularly when one considers what all was at stake. While child custody and visitation appeared to be the number one issue on the list of both parties, the division of reportedly around $275 million in assets was most likely another big issue for both sides. Just what actually went on behind the closed doors as the divorce was being negotiated will likely never be known as the divorce settlement appears to be confidential.

Certainly, the Cruise-Holmes divorce is not what one would consider to be “garden variety.” Nonetheless, the same matters that are of importance to residents of the Chicago metro area such as custody, property division and spousal support, were likely addressed. This speedy resolution of the matters in this case illustrates just what can be accomplished when both sides put their minds to it.

Source: CNN, “Tom Cruise, Katie Holmes settle divorce,” Alan Duke, July 9, 2012