The couple has agreed to a stipulated judgment of dissolution, which was filed in a Los Angeles court by Kris Jenner this week, reports Radar Online. The proposed judgment sets out the couple's agreed-to division of their substantial shared assets as well as their custody and support plans for Kylie Jenner, the only one of the couple's children who is still a minor.
What do you need to know about the Jenners' soon-to-be-official divorce? Here are five things to keep in mind:
The divorce is uncontested. Although the divorce papers were filed by Kris Jenner, the divorce is being filed as an uncontested stipulated judgment, which means that Bruce Jenner has agreed to the terms of the divorce agreement.
The Jenners have been separated since June 2013. According to the proposed stipulated judgment of dissolution filed with the court, the Jenners are divorcing after having separated on June 1, 2013. The date of final separation can often be important for determining whether property obtained or income earned by a spouse after separation is shared community property or that spouse's own separate property. In this case, however, the two have already agreed on the division of property.
The documents were filed by Kris Jenner "in propia persona." The documents were filed by Jenner in propia persona, which means without the assistance of a lawyer. However, by the looks of the lawyerly language in their proposed dissolution agreement, it's highly likely that both sides had attorneys negotiating and securing their respective portions of the agreement.
Who gets the money? The agreement stipulates that each spouse will receive a roughly proportional share of the couple's community property, such as half of assets held in joint accounts in both spouses' names. The agreement does, however, separate out many of the couple's assets individually, such as the couple's vehicles: Kris gets the Rolls Royce, the Bentley, and the Land Rover; Bruce gets the Escalade, the Harley, and the Porsche. The agreement also stipulates that Kris Jenner will make several cash payments to Bruce Jenner, including a $1.5 million payment when the judgment is executed.
What about spousal and/or child support? Neither of the Jenners will be required to pay spousal support or child support to the other under the terms of the agreement. Although the couple does have one minor child together, 17-year-old Kylie, the agreement specifies that each will pay for Kylie's expenses during his or her period of custody, but that Kris Jenner will continue to pay for Kylie's health insurance and private high school tuition as well as claim her as a dependent on her taxes.
The Jenner's divorce agreement will become official once it has been reviewed and is signed by a family court judge. That will likely happen in about six months' time -- the mandatory waiting period for all divorcing couples under California law.