A warring high-profile couple in the entertainment industry, embroiled in a child custody case for the better part of a year, have settled their dispute and formed a settlement, as reported by The New York Times and several other main stream news sources.
M.G. and O.G., never married before or after the birth of their now two-year-old daughter, L.G., ended their custody battle in a Los Angeles Superior Court on August 31.
Judge Peter D. Lichtman, from a prepared statement read, "The purpose and goal of today's hearing is to provide complete closure of this matter."
Lichtman also revealed some of the financial terms of the former couple's agreement. He said that M.G. would allow O.G. and L.G. to live in a home, that he would eventually sell, rent-free.
When the house sells the proceeds will be held in trust for L.G. for when she reaches 18 years of age. Until that time L.G. will be represented by a minor's attorney.
L.G. is to receive an equal share of M.G.'s estate, along with his other children, waiving all rights to interest in a family trust that M.G. had already made with his former wife, R.G.
Potentially M.G. could disburse his fortune through the previously established family trust, without leaving assets of any substance in an estate that would be shared with L.G.
O.G. is to receive three prescheduled payments - totaling $750,000 - as long as she doesn't violate an agreement not to discuss the couple's relationship in public. M.G. also faces penalties if he were to discuss the relationship.
Additionally, neither can write, nor contribute, to books or articles.
This last caveat, of not discussing their relationship with outside sources, has been especially harmful to M.G.'s film career. O.G., as an aspiring pianist, was publicly accused of extortion for leaking verbal tapes of M.G.'s irate rants.
Family law judge, Scott Gordon, reviewed the terms of the child custody agreement behind closed doors.
During his hearing, Lichtman offered that the former couple would share an equal custody of the child.
An anonymous source revealed that M.G. is expected to be responsible for most of the lawyers' fees - up to millions of dollars - and to provide L.G. with a monthly allowance.
M.G. pleaded no contest in March for misdemeanor battering of O.G. and was sentenced to 36 months of probations. For her part, O.G. was investigated for extortion but wasn't charged.
During the custody battle, M.G. attempted a film comeback. One film made less than $1 million, and another, filmed a year ago, hasn't been released in America yet.
O.G., once recording an album with a music label owned by M.G., will be receiving the master of the album and may resume her career as a pianist.
M.G. thanked Judge Lichtman for ending the battle with a "reasonable conclusion." O.G. also thanked the judge.
Contact a family law attorney as quickly as possible in a child custody dispute to avoid a lengthy, and costly, battle of your own.