August 12, 2010

Tiger Woods & Elin’s Divorce Settlement

Posted in Celebrity Divorce tagged at 1:28 pm by demetriagraves

It’s been a while since I’ve given you an update on what’s happening with the Tiger Woods and Elin Nordegren divorce settlement. So according to recent data here’s the latest breakdown of who gets what in the final divorce settlement – money, child custody, property, division of marital assets, and more. Of course, until the final divorce papers are actually filed in court, there could still be more last minute changes in the terms of Tiger’s and Elin’s divorce.
Elin has supposedly agreed to settle for $100 million, not the $750 million that was initially rumored. She will be eligible for child support but the monthly amount has not been specified yet. Some reports say that Tiger will have to pay as much as $20,000 a month or more. Tiger will get to keep the lion’s (or Tiger’s share) of his fortune Tiger will only have to give or 1/5 or 1/6 of his net worth.

Elin gets physical custody of their children – daughter Sam, 3 and son Charlie, 1 1/2 years will live with Elin. But there will be joint legal custody with Tiger. This means that Tiger will be allowed to have a say in any decisions that affect the children’s future.

Tiger will get generous visitation rights and will be able to see his children for up to half of each week. The plan is to also allow flexible visitation arrangements – Tiger’s visitation schedule can be adjusted to accommodate his travel schedule when he’s playing golf, so that he still gets his full visitation. There is also rumored to be a clause to allow renegotiation in 5 years, meaning that Tiger can renegotiate the terms of the custody agreement in 5 years.
Elin gets to keep a fair share of property, including:  The main family home in Windmere, Florida and another home located nearby. Plus, an apartment in Stockholm, Sweden and a secluded island in Sweden, which includes a $2.2 million estate that is currently being renovated. While Tiger gets the $80 million Jupiter Island oceanfront estate and an apartment in Los Angeles.
Tiger has asked Elin to sign a confidentiality clause that means a lifetime of silence for Elin. Initially, Elin wasn’t keen to agree to sign this clause, but it’s now rumored that she has signed the lifetime confidentiality clause. This means that Elin is prohibited from ever speaking publicly about any aspect of her life with Tiger Woods, even if Tiger should die first. If Elin violates this agreement in any way, the penalty is that she will forfeit everything she has gained.
Elin has forbidden Tiger to expose their children to his mistresses, or any female companion he is romantically involved with, unless he is married to said person. Tiger can only expose the children to women, not romantically linked to him. Plus, female members of Tiger’s staff who are personally known to Elin will be allowed around the children.

Elin will have freedom to live where she chooses and freedom to take the children to Sweden. Tiger has given Elin “wide latitude” to as to where she and the children live. There are no reports yet as to whether Elin and the children will permanently move to Sweden, as she earlier expressed a desire to do.  Tiger’s permanent residence will remain in the United States.
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