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Kelsey Grammer's Divorce to Cost $50 Million?

Actor Kelsey Grammer attends the 76th Annual Drama League Awards ceremony and luncheon on May 21, 2010, in New York. Michael Loccisano/Getty Images

NEW YORK (CBS) Kelsey Grammer wants his divorce from ex Camille Grammer to be over fast - but the split could end up costing him.

The actor has requested that a judge grant the divorce degree as quickly as possible - called a "bifurcation" - to end the marriage to his third wife, according to reports, so he can marry fiancee Kayte Walsh.

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California law states that a divorce can become final six months after a petition is filed, TMZ.com reports. Camille, who currently stars on Bravo's "The Real Housewives of Beverly Hills," filed for divorce on July 1, 2010, so if the judge grants Grammer's request for bifurcation, it will be finalized on Jan. 1.

But the split could end up costing the actor big bucks. The couple never signed a prenuptial agreement, according to the report, meaning that all the money they earned during the marriage will be divided 50-50 - and Camille could walk away with more than $50 million.

Sources familiar with the divorce told TMZ that the couple amassed a fortune in excess of $100 million during their 13-year marriage. Much of it was invested in real estate - the couple has homes in California, Hawaii, New York City, the Hamptons and Colorado.

The two are working out a financial settlement, the sources said.

The Emmy-winning actor has two children with Camille, daughter Mason, 8, and son Jude, 6. He also has two older daughters, Spencer and Greer, from previous relationships.

Grammer and Walsh confirmed their engagement earlier this month. The 29-year-old British flight attendant was pregnant with the couple's first child, but suffered a miscarriage in the fall.

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