Minnesota couples considering divorce might be interested to learn a bit more about why the Katie Holmes and Tom Cruise divorce concluded so quickly. Most observers expected the divorce proceedings to last many months, but, seemingly out of nowhere, the couple had quietly settled their marital dissolution.
Whether the divorce agreement will stand up, however, remains to be seen. Like marriage, settlements do not always last forever.
Since the divorce agreement will allegedly guide the manner in which the famous couple will raise their child and divide their immense assets, the hope is that both will be able to uphold their end of the settlement. Unfortunately, a single dispute could be enough to land the couple back in court feuding over the terms of the agreement. With details of the settlement being kept private, only the couple and their legal advisers know how sturdy the settlement agreement may prove.
One reason for working toward a settlement agreement is to protect family privacy. Reaching an out-of-court agreement can protect parties from having to disclose unwanted information in a more public setting. A settlement can also afford a couple more control over the terms of their divorce, including parenting time, spousal support, child support and more. For many, the freedom allowed by reaching a settlement independent of family law courts can be highly beneficial for a couple, if their situation warrants this option.
Negotiations toward a fair marital property settlement can be particularly complicated in a high-asset divorce, such as this one, but agreeing to settle in a civil manner can make the process easier to work through and process. Of course, each party involved in a divorce has financial interests they wish to protect or financial needs to meet after the split, but favorable, stable agreements can still be reached.
Earning a large share of assets before and during a marriage raises many complex legal questions, which Cruise and Holmes undoubtedly faced. In any complex divorce, it may be beneficial for both parties to retain skillful legal counsel to reach a fair and lasting agreement.
Source: Greenfield Daily Reporter, "To maintain privacy, quickly-crafted Cruise-Holmes settlement must outlast their marriage," Anthony McCartney, July 10, 2012
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