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Tom and Katie Finally Sign $40 Million Pre-Nup

Tom Cruise and Katie Holmes (photosKatie Holmes photos) finally have their pre-nuptial agreement in place - and it's worth a whopping $40 million.

The couple had their first baby a few weeks ago but they've spent months tweaking the details of the agreement, which determines who gets what if the two split.

Word is a $15 million trust has been set up for Katie and the baby regardless of whether the couple wed. But if the marriage happens and they later divorce, Holmes will receive an extra $25 million from Cruise.

Katie's father, a divorce lawyer, was still unconvinced about the relationship but is said to be happier about the pair now she will be taken care of financially.

A source close to the two said: "Katie's family have always been very sceptical about their romance. They were shocked that Katie got pregnant so quickly and didn't like the way she had turned her back on Catholicism for Scientology. But now this deal has been sorted out they are at least relieved that Katie and her baby will be financially secure for life, even if she doesn't marry Tom".

It has been reported that the two will get married in July.

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