Tom Cruise Sets Up A Hefty Trust Fund For Daughter Suri After Katie Holmes Fought Hard For It [PHOTOS]
The surprising Katie Holmes and Tom Cruise divorce has already been finalized in just less than two months after the initial filing by Katie Holmes. Even though the 33-year old "Dawson's Creek" actress did not really do well out of her split with Tom Cruise due to a pre-nuptial agreement, their 6-year old daughter Suri certainly will.
According to reports, the "Mission Impossible" star Tom Cruise will set up a trust fund for Suri to ensure the financial security of his adorable daughter in the future. "Katie has absolutely no access to the money and didn't want to. She just wanted to ensure that Suri would have financial security as she becomes an adult," a source revealed.
Meanwhile, Tom Cruise will give an amount of $400,000 per year as child support for daughter Suri until she turns 18 years of age. However, Suri will not be able to fully claim the money until she is in her 30s. "It's a sizable trust fund but Suri won't be able to fully legally claim it until she is in her 30s," the source further shared. Cruise will also be responsible for Suri's expenses that include health care, education, college and extracurricular costs.
Katie Holmes reportedly fought hard for Suri's trust fund during their divorce talks. According to the source, Tom Cruise had no problem with the said request and planned on doing it since it is for the sake of their daughter anyway.
While Katie Holmes did not receive any financial settlement from Tom Cruise due to their pre-nuptial agreement, the beautiful actress will be able to keep the lavish gifts that she received from Tom Cruise during their five year marriage such as designer handbags, jewelry and other luxurious items.
"Tom gave Katie diamond earrings as a birthday gift one year that easily cost over $500,000 and he had custom design pieces made for her. Under terms of the divorce, Katie is keeping all of the jewelry, handbags, accessories, and designer clothing. What she does with it is up to her," the source revealed.
"For the time being, the jewels are being kept in a very safe place and knowing Katie, it's likely she will one day give them to Suri once she is old enough," the source added. Receiving further spousal support was not what Katie Holmes was really after. The actress just wanted the divorce and what is best for her daughter Suri.