Real Housewives of Orange County star, Shannon Beador and her ex-husband David Beador have reached a financial agreement when it comes to their divorce settlement.
Nearly a year-and-half after Shannon, 55, filed for divorce from David in December 2017, their divorce judgment was filed in Orange County Superior Court on Thursday, April 25, according to court documents obtained by The Blast.
In the documents details of the pair’s financial agreement have been revealed. David has agreed to pay Shannon $1.4 million “to equalize the division of community property as set forth herein.”
The former duo who share daughters, Sophie, 17, and 14-year-old twins Stella and Adeline, have agreed to joint legal and physical custody. “The parties shall communicate with one another to ensure the children are appropriately cared for at all times. The parties shall cooperate to promote healthy parent-child relationships between each party and each of the children, and neither party shall make derogatory remarks about the other in the presence of the children,” the documents state.
In addition as a part of their agreement, David will pay Shannon a total of $10,000 monthly in support.
“By way of illustration, the monthly child support effective May 1, 2019 shall be $2,935, and therefore Respondent shall pay Petitioner $7,065 per month in spousal support — making the combined support payment $10,000,” the documents state. “It is the parties’ bargained-for agreement for this stipulated order that Respondent shall pay Petitioner $10,000 per month in combined child and spousal support for ten (10) years, and no more and no less than the $10,000 per month in combined child and spousal support.”
The documents continue: “Respondent shall pay Petitioner, as and for non-modifiable, nontaxable, non-deductible spousal support, the sum of $10,000 less the amount of any monthly child support then in effect, payable on the first day of each month, commencing May 1, 2019 and continuing thereafter on the first day of each month until the last payment on April 1, 2029, and after such payment, spousal support shall terminate forever.”
Shannon for her part, will keep a 2015 Cadillac Escalade; a leased 2018 BMW7 Series sedan; her bank accounts; and household furniture and furnishings currently in her possession, the documents state. David will keep a property near Corona, California; the Beador Construction Company; a 1998 Ford Expedition; a 2008 Ford Explorer; a 2011 Land Rover Range Rover SC; a 2017 BMW X3; a 2018 Ford Raptor Truck; a leased 2018 Porsche Carrera Turbo Cabriolet; a 2019 Mercedes-Benz G-Class SUV; and household furniture and furnishings presently in his possession, the documents state.
Shannon and David will be officially restored to the status of single persons on July 1, according to the documents.