Spelling and McDermott Settle Divorce With No Spousal Support and a Joint Tax Bill

According to Us Weekly, Tori Spelling and Dean McDermott reached an understanding that neither would owe spousal support, and they would collaboratively address their substantial $1.7 million outstanding tax obligation.

The detailed divorce agreement, submitted by Spelling, aged 52, and McDermott, aged 58, on November 3, was acquired by Us. The former couple confirmed June 17, 2023, as their official date of separation.

Under the terms of the settlement, Spelling retains ownership of all financial accounts held solely by her, her various entertainment ventures, and every piece of furniture she currently possesses.

Additionally, the actress is granted the 2016 Chevrolet Suburban, despite it being registered under McDermott's name. She also secures the 2021 Bronco, her complete share in the SAG-Producers pension plan, and all "reputational value linked to Tori Spelling."

Furthermore, she maintains a 50% stake in all shared entertainment projects developed throughout their marriage. She will fully own her current projects, including an untitled cookbook and cooking program, as well as a prospective renovation series and an unannounced travel series.

Spelling retains full rights to her earnings from Beverly Hills, 90210 residuals, profits from her individual book releases, and income generated from her podcast.

Spelling has stated she will absolve McDermott of responsibility for a $288,000 loan due to an outside party and an additional $70,000 loan. She further committed to settling $10,000 in medical expenses and all credit card balances under her name.

The actress is also responsible for half of a $37,000 American Express debt and an equal share of the substantial six-figure amount owed to City National Bank.

The agreement specifies that the former couple shares a $1.7 million liability in unpaid taxes, and they will cooperate to clear this debt.

McDermott is granted the 2006 Ford Expedition, the 2017 Ford Escape, and a 2006 Yamaha Stratoliner motorcycle. He will take on $20,000 in medical bill payments and all credit card debts solely in his name.

The document outlines joint custody for their children, with neither parent required to provide child or spousal support.

Details of Tori Spelling's Reported Earnings Emerge in Dean McDermott's Divorce Documents

Spelling initiated divorce proceedings in March 2024, initially seeking spousal support from the court. McDermott contested this plea, arguing his income had significantly decreased compared to their marital period.

Ultimately, the former spouses reached a settlement that excluded any support payments.

As Us earlier disclosed, after the divorce, Spelling began a relationship with CEO Ryan Cramer. (Their previous dates in 2023 concluded, but the pair opted to reconcile and remain a couple.) McDermott, conversely, began seeing a woman identified as Lily Calo.

Tori Spelling and Former Spouse Dean McDermott Face Over $200,000 in Liabilities

McDermott publicly confirmed their separation via an Instagram post in June 2023.

Spelling discussed her divorce on her "misSpelling" podcast on November 10.

She commented, “Despite the challenges and difficulties we faced during our marriage, the divorce process itself was seamless, which I believe reflects our mutual commitment to prioritize and support the five children born from our love.”

Spelling, with a slight tremor in her voice, further stated, “I feel somewhat anxious at this moment.” She characterized the separation as entirely “friendly,” even with attempts by “the media” to “alter the story.”

McDermott shared his thoughts on Spelling with Us on November 10, remarking, “We are excellent co-parents. Our dynamic is wonderful. We present a unified stance. Everything revolves around our children.”