'Riddled With Falsehoods': Katie Holmes NOT Desperate for Money After Annual $400k Child Support From Tom Cruise Ends, Says Lawyer
Holmes filed for divorce while Tom was filming Oblivion in Iceland in June 2012.
A lawyer for Katie Holmes tells RadarOnline.com exclusively that she is not stressing over her finances, nor how to reinvent herself now that her six-figure yearly child support payments from ex-husband Tom Cruise will soon end.
The former couple's only child together, Suri Cruise, is turning 18 on April 18, meaning it won't be long until Holmes no longer gets $400k in annual child support, which breaks down to roughly $33,333.33 per month.
It was determined that Cruise would pay Suri's support for the next 12 years in 2012.
Holmes' and Cruise's daughter will reportedly graduate from high school in June and plans on going to college in the fall of 2024.
According to a newly published report that has since been denied by a lawyer for Holmes, "For years, Katie's enjoyed a lavish lifestyle, thanks to Tom's consistent support," an insider claimed.
"But as their child nears adulthood, both mother and daughter are facing an uncertain future," the tipster spilled. "It's a terrifying prospect — going from an amazing standard of living to a question mark overnight!"
According to a newly published report that has since been denied by a lawyer for Holmes, "For years, Katie's enjoyed a lavish lifestyle, thanks to Tom's consistent support," said an insider.
"Dawson's Creek royalties don't hold a candle to what Mission: Impossible generates!" the tipster further alleged. "She's actively looking for roles and is eager to throw herself back into the industry full-time. And don't forget the non-disclosure agreement she signed — it's set to expire, too. If things get tough, Katie could cash in by penning a tell-all book!"
However, Jonathan W. Wolfe, Esq., Holmes' attorney, told RadarOnline.com that is not the case.
Jonathan W. Wolfe, Esq., a lawyer for Holmes, set the record straight in a statement to RadarOnline.com.
"The story is riddled with falsehoods," Wolfe shared with RadarOnline.com on Friday. "One would hope there would be more newsworthy items to cover, and publications would avoid reporting as 'facts' claims from anonymous sources peddling such obvious misrepresentations."
Holmes starred in several films in recent years, including Brahms: The Boy II, The Secret: Dare to Dream, Alone Together in 2022, and Rare Objects in 2023.
Cruise and Holmes married in Nov. 2006 and announced their divorce in 2012. The now-exes welcomed their daughter the same year they tied the knot.
"The story is riddled with falsehoods," Wolfe shared with RadarOnline.com about the report on Holmes' rumored money concerns and reinvention.
"Motherhood means everything to me," Holmes told PEOPLE in 2014. "I'm learning every day, and I have been since the minute I became a mom."
"Between tickle fights and glitter art, I try to throw in some manners along the way," the actress shared about setting an example. "I also try to be very creative with her, because I know she's an artist, and that speaks to the girl in me."
Just last year, the sitcom starlet spoke out about parenthood again and the responsibilities that come along with it.
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Holmes told Glamour that she likes to "protect" her daughter from the public eye "because she was so visible at a young age."
She added, "I'm very grateful to be a parent, to be her parent. She's an incredible person. She's my heart."
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