Friday, June 27, 2008
Update: Simmons' settle child custody issues - SendMeRSS
Update: Russell Simmons has released a statement outlining the details of the custody agreement. Read what he has to say in the extended post.
Updated at 10:45 a.m.: People.com reports that Kimora Lee Simmons has been granted sole custody of the couple's children, with Russell getting the girls one of every eight weeks, plus extra time around the holidays and in the summer months. According to legal documents obtained by The Insider, he is also required to buy or lease a car valued at $60,000 or more for his daughters every 24 months. The custody agreement lasts until the girls are 19 ½, or until they become emancipated, married, self-supporting, join the armed forces or move out of their mother's home.
Originally posted at 9:30 a.m.: Gossip site TMZ.com obtained official court documents on Wednesday revealing the details of hip-hop mogul Russell Simmons' child support agreement with former wife Kimora Lee Simmons. Russell, 50, will be paying $20,000 per month for each daughter -- Ming Lee, 8 ½, and Aoki Lee, 5 ½ -- a grand total of $480,000 annually. Ming's payments will continue through 2019, while Aoki's will end in 2022.
Baby Phat CEO and former model Kimora, 33, filed for divorce in March after nine years of marriage. The couple remain friends, though Kimora has asked for primary custody of the girls, allowing Russell "reasonable child visitation ... accompanied at all times by the children's nanny and security personnel." The girls and their mother currently live in Los Angeles.
Sources: TMZ.com, People.com, The Insider, Perez Hilton; Photo by Williamson/WireImage.
Friends of mine have forwarded me gossip online about my custody agreement details with Kimora. The fact is, we've had a pretty good partnership at sharing the girls in the past. There have been a few bumps in the road, and those bumps have led us to negotiate a minimum amount of time I'm guaranteed to see my kids. That deal is as follows: I have the girls one full week out of every eight, half of the summer, half of all the holidays, a full week at Christmas, and half of Spring Break. Like in all good partnerships, contracts are meant to protect the partners but are usually not the only way the partners work together. If I show up in L.A., where she now lives, unannounced, I can call up Kimora and she will most likely send them right over. The same goes for when she comes to New York. We have always had a school in New York and a school with the same curriculum in L.A., so when the girls are with me in New York, we can spend quality time together. I can get up with them, take them to school and just be together.
Kimora consults with me about doctors or schools for the girls, but she's always had final say in those areas. If we had an argument about a school, guess who's going to win? But there are other stipulations in our agreement where we have to make final decisions together. Anything having to do with business decisions pertaining to my kids cannot be done without my consent.
I've also seen a lot about people reading into the supervised visits stipulation. Kimora travels with a security guard and a nanny. In the past, she's gotten really nervous that I never travel with security, so if it makes her more comfortable to have her security and a nanny with us when I'm with my kids, that's OK with me.
Finally, I want to say Kimora is a excellent mother and is doing a great job with them. My kids are studying a couple of foreign languages, they travel around the world, they practice yoga, ballet, swimming, karate and piano, among other things…sometimes I think they do too much, but I trust in Kimora on this because she IS a good mother. Regarding the money, my kids live a tremendous life. They do have lots of security, nannies, educators, special programs, travel, chefs, on and on. Their mother manages all of those luxuries and I'm happy to provide for that.
With great love all things are possible.
-Russell Simmons
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