From real estate to her net worth of $430M

PEOPLE hears from a legal expert that the couple “seems to have done smart uncoupling financial savvy thing as they file for divorcement

Todd Williamson/NBC/NBCU Photo Bank/Getty

Todd Williamson/NBC/NBCU Photo Bank/Getty

Reese Witherspoon Jim Toth have made fortunes as one of the most successful couples in Hollywood — now they must divide their assets as they proceed with their divorce.

Friday’s announcement by the couple that they are filing for divorceThis announcement was made two days prior to their 12-year marriage anniversary. The statement was signed by Witherspoon (47) and Toth (52) who said that the difficult decision was made after much thought and care.

They said that they had enjoyed many happy years together and were moving forward with deep love and kindness.

Related:Reese Witherspoon ‘Upset’ Over Jim Toth Breakup: ‘She Never Saw Herself Getting Another Divorce’ (Source)

Toth and Witherspoon share a 10-year-old son Tennessee. She is also mom to Ava, 23, Deacon (19), and Ryan Phillippe (19). They are also in business together: Toth is a founding member of Hello Sunshine. Hello Sunshine was co-founded by Witherspoon in 2016. Hello Sunshine also includes Reese’s Book Club. The Home Edit. It’s also behind hits TV shows and movies such as Big Little Lies, Daisy Jones and The Six?, and Where the Crawdads sing.

In a deal that valued the Oscar winner at over $1 billion, Hello Sunshine was sold to Tom Staggs (Oscar winner) and Kevin Mayer (backed by Blackstone), in August 2021. valued the company at $900 million. Witherspoon was able to move into the new business. estimated net worth It is estimated that $430 million per year. Forbes.

Michael Kovac/Getty Jim Toth and Reese Witherspoon in 2018

Michael Kovac/Getty Jim Toth & Reese Witherspoon, 2018

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Witherspoon is an actress as well as a producer. Witherspoon starred with Ashton Kutcher in the Netflix rom-com “Romance” Mine or Your PlaceShe is her own company. Season 3 of Apple TV+ Morning ShowThe new Hello Sunshine album, “The Secret Life of the Sun”, will be available soon. Witherspoon, costar Jennifer Aniston According to some, paid $2 million per episode For that series, according The Hollywood Reporter.

Witherspoon will also be reprising one of her early breakout roles in “The Witherspoon Show”. Legally Blonde 3She’s also reportedly working on a sequel for her 1999 film Election.

Toth was, in turn, a talent agent at Creative Artists Agency for more than 20 years, before becoming the head of content acquisitions for Quibi. streaming service that shut down In October 2020, less than one year after its launch, the company was still in operation. The investor, entrepreneur, and board member of the tech company Flowcode is also a director. He also serves as a founding member on the Draper James board of directors, Witherspoon’s clothing business.

Related:Reese Witherspoon and Jim Toth Remain ‘Best of Friends’ amid ‘Amicable Decision’ to Divorce: Source

PEOPLE was told by a source that Witherspoon & Toth “still plan on working together in different capacities as they have done in the past,” despite their divorce.

“This is so difficult for them both. There is no drama. The source said that these decisions can be so difficult because there is so much love and friendship.” “… They enjoyed a wonderful courtship. They had many mutual friends and shared many common interests. He was charismatic and fun when they first met. They shared a lot of creative similarities. They shared the same values. They agreed that this was the best for them.

They have also made millions by selling and buying real estate. Witherspoon, for example. reportedly sold one Los Angeles home After paying less than $16million in 2020, it was sold for $21.5m last year. Additionally, Architectural Digest reported You can find the Wild Last year, the actress bought Nashville for nearly double the price she paid in 2018.

Todd Williamson/NBC/NBCU Photo Bank/Getty

Todd Williamson/NBC/NBCU Photo Bank/Getty

Marilyn Chinitz is a New York matrimonial, family and law attorney at Blank Rome. She says that Witherspoon & Toth “seems to have done smart uncoupling financial wisdom thing, and that’s just sell everything and create liquidity. Then it’s easy for us to divide up the money.”

However, there may be “intangible assets”, which will need to be sorted out.

Chinitz says, “They might have rights in movies, they could have cryptocurrency, and those are what I call intangible assets.” If they are able sell their residences or businesses, and if they can identify the assets, their lawyers should be able propose how to distribute these intangible assets.

Chinitz said that “they made their case very easy and we hope their custody case can be solved on a co-operative basis.”[Witherspoon’s] If you stop and think about it, the whole world is just beginning. Why are we engulfed in conflict and suffering? It would be so smart to find a solution and divide assets. Then, you can start over again. They should be commended for how they handled their divorce.

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