TomKat are over, but the speculation sure isn’t. Where once the tabloids wondered whether the relationship, which began with a sushi dinner on his private jet, was legit, the speculation now turns to that great Hollywood tradition of who gets what? Katie Holmes hired a lawyer to make her annuncement that she had filed for divorce; Cruise, apparently blindsided by the filing, is surely in the process of hiring one; will he let his $75 million yearly earnings and custody of Suri, six, go without a fight? We break it down.
Tom Cruise, 49
Bert Fields, Cruise’s long time legal representative in litigation matters, asked whether there was a prenuptial agreement, said, “I can't comment on that. It will all come out.”
“We’re thinking about who to use,” Fields added. “We have to discuss strategy.”
Speculation about a pre-nuptial agreement began almost immediately after the couple's engagement. Cruise already had two ex-wives in Hollywood - the actresses Mimi Rogers and Nicole Kidman, with whom he adopted two children. His annual earnings - recently estimated by Forbes at $75 million - dwarfed those of his young bride, whose father is a lawyer. Cruise often earns a share of a film’s total revenue, rather than a base salary.
In spite of the legal forces being marshaled by Holmes, Fields said, "I would hope that it's not a contentious matter. I know Tom is not a particularly contentious person."
Katie Holmes, 33
Holmes has retained two prominent law firms that specialise in wealthy break-ups. New York lawyer Allan E Mayefsky has been involved in a number of acrimonious and headline-grabbing splits, including the divorces of model Christie Brinkley, TV anchor Joan Lunden and a Manhattan financier who was ordered to pay his ex-wife $44 million.
In addition, the Dawson's Creek actress hired a New Jersey divorce lawyer, Jonathan Wolfe, whose website boasts of his prowess in “complex matrimonial matters” involving “leaders or the spouses of leaders” in business, entertainment and sports. He has written extensively about prenuptial agreements and ways to recover hidden assets in divorce proceedings. In a statement, Wolfe called the divorce “a personal and private matter”.
“Katie’s primary concern remains, as it has always been, her daughter's best interest,” the lawyer said, referring to the couple's daughter, Suri, six. Holmes, is best known for television’s Dawson’s Creek had a costarring role in Adam Sandler’s Jack and Jill last year.
Filing in New York: Avoiding a public battle? Divorce lawyers’ expectations
The decision to file in New York rather than California might have been one of convenience - Holmes and the couple's daughter are currently living in New York - but it also might reflect a desire for privacy.
“My guess is that she brought it in New York because files are sealed,” said Manhattan attorney Raoul Felder, a veteran of high-profile divorce cases. “If it was in California, it's all public and you can walk into the clerk's office and get the papers.”
Bernard Clair, a Manhattan divorce lawyer with many wealthy clients, said judges generally order divorcing couples to abide by the terms of their prenuptial agreements when it comes to finances. But the court often modifies provisions governing child support and custody, potential issues in the Cruise-Holmes break-up. “These provisions relating to custody are almost always viewed as statements of intent and aspiration as opposed to enforceable and binding provisions,” Clair said.
“Most of the estate is Tom’s. She’ll have to go for a lot of child support. She’ll have to show that Suri has nannies, cars, activities, clothes, hair appointments. That a hefty amount each month is needed to maintain Suri’s lifestyle,” top divorce attorney Vikki Ziegler told Hollywoodlife.com.
The expected payout
Once the divorce is finalised, both the actors will keep their respective earnings from the projects they’ve worked on since November 2006.
Holmes is also likely to receive $3 million for every year she was married to Cruise as well as the couple’s $35 million Beverly Hills mansion, reports femalefirst.co.uk. Since they did not stay married for 11 years, the pre-nuptial agreement states California community property laws won’t apply to the divorce - which normally sees a couple’s assets split 50/50. The couple have property in Los Angeles and New York and hundreds of acres in Telluride, Colorado.
— With inputs from Los Angeles Times
