Lawyer for Katie Holmes announced the signing of couples divorce settlement. "The case has been settled and the agreement has been signed," lawyer Jonathan Wolfe said in a statement to the Daily News adding "We thank Tom's counsel for their professionalism and diligence that helped bring about this speedy resolution."

Both Katie and Tom both released a statement to the public through their representatives:"We are committed to working together as parents to accomplish what is in our daughter Suri's best interest," adding, "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."

Katie has been busy planning for the separation with Tom for awhile, the actress fired Tom's adopted daughter Bella two months ago from Katie's Clothing Line Holmes & Yang, prior to submitting her divorce papers on June 29, 2012.

Bella was stunned by the news, according to Hollywood Reporter: "There was never any trouble between them. Bella called Katie "Mom." She was fired out of the blue, and once Katie filed for divorce, it all made sense," according to sources.

The 33 year-old actress is also busy filming a new movie, which she co-wrote, portraying a single mother with her daughter.