Reese Witherspoon and Jim Toth had been quietly dividing assets for years before announcing their split.
The Cruel Intentions actress had reportedly been preparing for the separation since a year.
“Reese has spent the last year preparing for the next chapter,” the industry insider exclusively explained in Us Weekly’s December 2021 issue, noting that the Legally Blonde actress, 47, has been getting her finances in order since late 2020.
Witherspoon shared the news on Friday, March 24th, 2023, via a joint statement in an Instagram post announcing the split.
“They decided their marriage wasn’t going to last forever and that they should have a plan for splitting up their assets that wouldn’t destroy what they built together,” the source explained at the time, noting the estranged spouses methodically executed this plan.
The Sweet Home Alabama star sold her company in August 2021 for $900 million. The company had been a “bonding factor for’ her and Toth; as he had co-owned the company and “was seriously invested in it.” Though, she had cofounded it with Seth Rodsky in 2016.
“Instead of having to split up a huge company with dozens of employees and several divisions, they have a big pile of money — and there’s plenty for everybody,” the insider told the outlet at the time.
The couple had multiple properties in both California and Tennessee. In November 2020, Witherspoon sold the pair’s Malibu farmhouse for $6.7 million, according to Dirt.
Two years later, the former couple turned a profit on their English Country-style manor located in Los Angeles, which they sold for $21.5 million – more than $5 million when they originally purchased in 2020.
Moreover, in October 2022, they sold their Nashville home for $7.35 million.
The news of the pair’s split came just two days before their 12th wedding anniversary and two days after Witherspoon’s 47th birthday. They are parents to son, Tennessee James, 10.
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