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Tom Cruise sets up 'sizeable trust fund' for Suri

Aug 28, 2012, 21:01 GMT

Tom Cruise and Suri

Tom Cruise has set up a 'sizeable trust fund' for his and Katie Holmes' daughter Suri.

The 'Top Gun' actor - who is giving his former spouse $400,000 per year in child support until their six-year-old child turns 18 - has created the additional payment plan for his little girl upon the 'Dawson's Creek' actress' request, although the youngster will be unable to fully legally claim the money until she's in her 30s.

A source told RadarOnline: 'Katie wanted the trust fund put in place for Suri so that their daughter will be able to tap into after she turns 18 years old.

'Katie has absolutely no access to the money and didn't want to. She just wanted to ensure that Suri would have financial security as she becomes an adult. It's a sizable trust fund, but Suri won't be able to fully legally claim it until she is in her 30s.

'Tom had no problem with the request and planned on doing it for Suri anyway.'

While Katie didn't receive a huge settlement from Tom due to the former couple's pre-nuptial agreement, the brunette beauty will still be able to keep the designer handbags and other lavish gifts that the 'Mission: Impossible' star treated her to during their five-year marriage.

A source said: 'Tom was extremely generous to Katie with lavish gifts during their marriage and she will be keeping millions of dollars of jewelry, Hermes handbags and other luxurious items.

'Tom gave Katie diamond earrings as a birthday gift one year that easily cost over $500,000 and he had custom design pieces made for her. Under terms of the divorce, Katie is keeping all of the jewelry, handbags, accessories, and designer clothing. What she does with it is up to her.

'For the time being, the jewels are being kept in a very safe place and knowing Katie, it's likely she will one day give them to Suri once she is old enough.'