Reese Witherspoon & Jim Toth Wrapping Up Divorce Settlement: ‘Longing For A Fresh Start’
Reese Witherspoon and her estranged husband Jim Toth are wrapping up the loose ends on their $1 billion divorce, RadarOnline.com has learned.
Sources close to the exes revealed the Legally Blonde star and the ex-CAA agent started working out a settlement months before Reese filed for divorce.
“Both of them are really longing for a fresh start. It’s been a tortuous process,” said a source.
The talks have been complicated by the fact that Jim and Reese mingled work with pleasure over the past 12 years.
Sources said Reese, 47, and Jim, 52, have already workout the “nuts and bolts” of their divorce, including the dividing of the profits of Reese’s $900 million sale of her production company Hello Sunshine in 2021.
Despite the sale, Reese remains on the board and continues to run day-to-day operations. The company still produces the star’s Apple TV+ hit The Morning Show.
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- Reese Witherspoon To Divorce Husband Jim Toth After 12 Years Of Marriage
There are also millions in real estate, including three properties in Nashville and one in California. The portfolio is worth an estimated $46 million.
“Their property and assets could well be over the $1 billion mark,” said a source.
Another source said Reese and Jim do not want an ugly custody fight. As RadarOnline.com first reported, Reese agreed to joint custody of their 10-year-old son Tennessee in her divorce petition.
Last week, the petition was filed in Nashville Court. The actress cited “irreconcilable differences” as the reason for the split.
Reese said the parties entered into a Pre-Martial Agreement on March 24, 2011, in California, and “that this agreement is valid and enforceable.”
Reese told the court the prenup made “adequate and sufficient provisions for the parties’ assets and debts.”
“It is anticipated that the parties will enter into a Martial Dissolution Agreement and Permanent Parenting Plan that will be submitted to the Court for approval,” the filing read.
Jim has yet to respond to the divorce but sources believe it will be wrapped up quickly.
As RadarOnline.com previously reported, earlier this month, Reese and Jim announced they were divorcing after 12 years of marriage. The two said, “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."