Suri Cruise To Live With Mom, But Katie & Tom Will Work Together

Suri Cruise, Katie Holmes and Tom Cruise

After settling their divorce, Katie Holmes & Tom Cruise explain their parenting plans.

Tom Cruise and Katie Holmes' divorce may have been the fastest in Hollywood history!

Less than two weeks after Katie filed for divorce from her husband of five years, she met with lawyers to hammer out a settlement and decide who would get custody of her and Tom's 6-year-old daughter, Suri Cruise.

On Monday, the couple settled outside of court, awarding Katie with primary custody of Suri and Tom with very generous visitation rights, according to People.

Shortly after the papers were signed, both Katie, 33, and Tom, 50, joined together (probably for the last time) to release this statement to Us Weekly

"We are committed to working together as parents to accomplishing what is in our daughter Suri's best interests. We want to keep matters affecting our family private and express our respect for each other's commitment to each of our respective beliefs and support each other's roles as parents." 9 Of Tom Cruise's Mushiest Quotes About Katie Holmes

With the divorce a done deal, Katie can now start the next chapter of her live with Suri in their brand new, 3-bedroom apartment in New York City's Chelsea neighborhood. According to People, Katie will enroll her daughter--who's been home-schooled up until now--at one of the city's prestigious private schools this fall. 

Meanwhile, Tom was back to work on the set of the sci-fi flick Oblivion in Mammoth Lakes, California as early as Monday afternoon. The now single actor will be residing in LA with his other kids, Connor, 17, and Bella, 19.

A source for the couple tells People of the divorce settlement: "They both love their daughter (Suri), and Tom thinks she should be with her mother. (They) didn't want his family dragged through the mud... Neither one of them wanted this to be hashed out in public."

And that, my friends, is the end of TomKat.

Tell us: what do you think about the divorce settlement? 

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