CELEBRITY

Suri Cruise Gets 'Sizable' Trust Fund As Part Of Tom Cruise, Katie Holmes Divorce Settlement: REPORT

08/28/2012 10:34 am ET | Updated Aug 28, 2012

The divorce settlement between Tom Cruise and Katie Holmes reportedly outlines that Holmes will receive $400,000 a year in child support for 6-year-old daughter Suri until she turns 18, but the actress reportedly also negotiated for a sizable trust fund to be set up in Suri's name.

TMZ reported that Cruise will be responsible for expenses that Suri may incur, such as medical and dental care and tuition to the $40,000 a year private school Avenues, where Suri is scheduled to start first grade after Labor Day.

All of Suri's needs will be more than taken care of, but a source tells RadarOnline that Holmes negotiated the trust fund so that her daughter will be able to begin to access some of the funds once she turns 18 years old.

"She just wanted to ensure that Suri would have financial security as she becomes an adult. It's a sizable trust fund, but Suri won't be able to fully legally claim it until she is in her 30s. Tom had no problem with the request and planned on doing it for Suri anyway," revealed the source.

As one of the best-dressed celebrity children, Suri -- who is endlessly doted on and well traveled, and has a penchant for designer clothes -- will likely make good use of the trust fund one day.

Suri Cruise & Mommy

Related on HuffPost:

Suggest a correction
560 Comments

CONVERSATIONS