Tom Cruise, Katie Holmes to keep divorce details confidential

Katie Holmes and Tom Cruise attend the National Movie Awards 2010 at the Royal Festival Hall on May 26, 2010, in London.

/ Getty

(CBS News) Katie Holmes and Tom Cruise won't be divulging details of the divorce deal they signed on Monday.

Lawyer Jonathan Wolfe said the settlement, which ended the couple's five-year marriage, will be kept confidential.

Pictures: Tom Cruise and Katie Holmes
Pictures: Suri Cruise
Pictures: Celebrity splits

"There are numerous inaccuracies in the reports regarding the purported contents of the agreement reached between the parties," Wolfe told People. "The agreement is confidential and its terms will not be disclosed."

But that doesn't mean speculation won't occur. Sources tell People that the couple's 6-year-old daughter, Suri, will spend most of the time with Holmes in New York, while Cruise will get generous visitation rights.

Holmes, 33, recently moved into a new apartment in the Chelsea area of Manhattan. Since filing for divorce last month, she's been spotted out with Suri, getting ice cream and shopping at Whole Foods. Cruise, 50, has been working on his upcoming film, "Oblivion."

On Monday, Wolfe announced that a divorce deal had been signed, less than two weeks after Holmes first filed in New York.

"We are thrilled for Katie and her family and are excited to watch as she embarks on the next chapter of her life," he said.

Shortly before the announcement, the former Hollywood couple released a joint statement asking for privacy as they hammered out a custody arrangement.

"We are committed to working together as parents to accomplish what is in our daughter Suri's best interests," the statement explained. "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."

30 Photos

Tom Cruise and Katie Holmes

[Mr_H]

Are you, like Katie Holmes, a Catholic that has been away from the Church for a while? If so, come home!

Or, are you someone who would like to learn more about the Catholic Church?

A moving, two-minute video on the beauty of Catholicism and the contributions of the Catholic Church to Western Civilization can be found at the link:

http://allhands-ondeck.blogspot.com/2012/04/catholics-come-home.html

[Dotti921]

Whatever the reasons Katie sought to divorce Tom I applaud them both for handling it in a mature manner thereby causing as little pain for Suri as possible. I am sure it was necessary for Katie to file the way she did. She doesn't appear to be a golddigging, dishonest person. Her only concern was her daughter. Good Luck Katie. With your class and beauty you will go far.

[Dotti921]

Whatever the reasons Katie sought to divorce Tom I applaud them both for handling it in a mature manner thereby causing as little pain for Suri as possible. I am sure it was necessary for Katie to file the way she did. She doesn't appear to be a golddigging, dishonest person. Her only concern was her daughter. Good Luck Katie. With your class and beauty you will go far.

[wlhoppers]

I'm just glad their divorce is over and done with this and the media can move on to the next Hollywood non-issue. Like Brangelina's wedding.

[yaelbelle]

When is the last time you witnessed such masterful spin control? Saw the media and fans follow so blindly? Given the cruel and tacky way she filed for divorce, after such a devoted and happy marital face, one wonders who she is? It isn't really our business, but thankfully for Suri, Tom Cruise, gentleman or not, behaved as one, and did the only thing a good parent would do... Brought a quick end to the drama.
Katie Holmes suitor's BEWARE! You don't want to be on the wrong side of a break up. Tom Cruise would have been better off hiring her as his publicist.

[commentplease]

Wow yaelbelle sounds like your a Scientologist fan or even a member !!! Do you work for them as a publicist yourself, seems so!!!

Tacky way she filed for divorce you say.. you better watch some of the documentories on Scientology that are out .. Katie was forunate to have a father in the legal field to advise her otherwise god only knows how long she would have been trapped in that cult!!!

[wlhoppers]

You're right - it isn't any of our business, thus rendering your speculation about Katie and potential suitors as nothing more than garbage.