Katie Holmes' lawyer has confirmed her highly-publicised divorce with Tom Cruise has been settled for an undisclosed amount.
Reports have emerge that she will have 'sole custody' of their six-year-old daughter Suri.
The couple appear to have reached an agreement out of court, meaning the actor's beloved Scientology is no longer at risk of scrutiny with the religion's secrets being dissected during a trial.
Jonathan Wolfe of New Jersey-based lawyers Skoloff & Wolfe, which represents Holmes, said in a statement: 'This case has been settled and the agreement has been signed.'
Speaking to celebrity website TMZ, he added: 'We are thrilled for Katie and her family and are excited to watch as she embarks on the next chapter of her life.
'We thank Tom's counsel for their professionalism and diligence that helped bring about this speedy resolution'.
Tom Cruise is worth an estimated $250million (£160million).
Earlier reports suggested that Holmes might walk away with just £10million from Cruise’s fortune.
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The couple signed a 100-page pre-nuptial agreement when they married which stipulated that Holmes would get nearly £2million ($3million) for every year of the marriage, according to reports on Gawker and MSNBC.
If their marriage had lasted more than 11 years, Holmes, 33, would have received half of Cruise’s estimated £160million ($250million) fortune.
However, unconfirmed sources from US celebrity websites today suggested the deal would almost certainly have included a 'goodwill' payoff to help bring talks to a speedy conclusion.
There were also previous reports that she would get the couple's $35million (£22million) Beverly Hills mansion. The couple also had a second mansion in the Hollywood Hills, worth £10million, a mountain retreat and another £12million home in New York’s Greenwich Village.
According to TMZ, while Holmes has sole custody of Suri, Cruise, 50, will still get significant custodial time with his daughter.
Apparently the agreement also includes details on what the parents are allowed to tell Suri regarding religion, including Scientology.
The restrictions are eased as Suri gets older, the website reports. Released by their representatives, the notice states that they will continue to work together as parents and 'express our respect for each other's commitment to each of our respective beliefs'.
Tom's lawyer, Bert Fields, said of the agreement: 'Tom is really pleased we got there, and so am I.'
Holmes filed for divorce under the names 'Anonymous vs Anonymous' - signalling her intention of trying to keep details private.
Last week, Forbes published its annual top 100 of Hollywood's best paid actors with Cruise No.1 with earnings at $75million - almost double that that of second place Leonardo DiCaprio, who was in the top spot last year.
The figures represent a massive career comeback for Cruise who in the last five years has struggled to secure box office hits. Mission Impossible - Ghost Protocol has put him back at the top of his game.
However, the estimated wealth of Cruise, a big donor to the Church of Scientology, is far lower than that of fellow divorcee and actor Mel Gibson.
When the Australian-born actor and his wife of 26 years separated in 2009, the Lethal Weapon actor reportedly handed her half of his estimated $850 million fortune. Robyn – who has returned to her maiden name Moore – was entitled to half of his assets under California state law, as the pair did not sign a prenuptial agreement.