Reese Witherspoon has settled her divorce with her estranged husband, just four months after she first filed.
via: Radar Online
According to court documents obtained by RadarOnline.com, the settlement presented by the parties said, “Neither party shall pay any amount and/or form of alimony to the other. All alimony and spousal support claims are hereby forever waived by the parties.”
The deal said neither owned any property in their individual names and all property was purchased using trusts and LLCs.
As we previously reported, Witherspoon amassed a real estate collection worth $46 million during the marriage. The deal said that the prenuptial agreement signed before the marriage dictates the division of the property.
“Each party is awarded his or her clothing, jewelry and personal items,” the deal said. However, Witherspoon was awarded all the household furniture, appliances, art, and other items of personal property in her possession.
Witherspoon and Toth walked away with their own stocks and bonds — and their own separate bank accounts. They agreed that they would keep all cars in their name.
In addition, Witherspoon was awarded all her professional entities, business interests, and contractual rights titled to and/or otherwise held in his or her induvial name, along with all accounts, assets and rights associated with the same.”
Further, the deal said that “Each party is further awarded all income, deferred compensation, equity and emolument of any nature or description and/or other property earned and/or received by him or her as a result of the performance of personal services for others during and after the marriage.” The provision means Witherspoon was awarded all her residuals from her lengthy film career including Legally Blonde, Sweet Home Alabama and Big Little Lies.
The deal stated that each party will keep their own hotel and airline miles in their own name. The agreement said both parties will handle their own debts.
Further, the deal said, if the parties have a disagreement in the future, they must attempt to mediate before filing anything in court.
As we first reported, Witherspoon and Toth agreed to share joint custody of their 10-year-old son Tennessee. The documents revealed that both parties earn in excess of $100k per month.
As we first reported, back in March, Reese filed for divorce from Jim citing “irreconcilable differences” following 12 years of marriage.
The two released a joint statement reading, “It is with a great deal of care and consideration that we have made the difficult decision to divorce. We have enjoyed so many wonderful years together and are moving forward with deep love, kindness, and mutual respect for everything we have created together.”
