Tori Spelling And Dean McDermott Plan To Deal With $1.7M Tax Debt Together

In line with the previous couple’s divorce documents, they’ve decided to tackle their financial issue, a $1.7 million tax debt, together.

Tori Spelling has also insisted that she and Dean McDermott ended things respectfully, making a “clean slate” and prioritizing a healthy co-parenting relationship.

Despite years of marital turbulence, Spelling and McDermott selected an unexpectedly cooperative approach to ending their 18-year marriage.

In line with their divorce documents, obtained by Us Weekly, the pair decided to confront their long-standing financial burdens together, including the staggering $1.7 million in unpaid taxes which have shadowed them for years.

Earlier this month, they privately reached a settlement centered around protecting their children.

Spelling, 52, and McDermott, 58, each agreed to waive spousal support, in addition to child support, and can share custody of their five kids: Liam, 18, Stella, 17, Hattie, 14, Finn, 13, and Beau, 8.

This represents a big shift from their earlier filings, as Spelling initially sought sole physical custody when she filed for divorce in March 2024, and McDermott requested spousal support before they each withdrew those demands.

On the debt side, Spelling and McDermott have agreed to tackle several large balances together.

Except for their multimillion-dollar tax issue, they may split their $37,000 American Express balance and divide the roughly $400,000 owed to City National Bank.

Spelling will individually repay a $288,000 loan and the remaining $70,000 on one other.

Each will handle their very own medical expenses and any bank card debt held individually.

As a part of the brand new agreement, Spelling and McDermott also handled their property division with minimal conflict.

Spelling will retain the residuals from “Beverly Hills, 90210,” the long-lasting series she starred in from 1990 to 2000, together with earnings from her podcast and her six books: “Stori Telling,” “Mommywood,” “Spelling It Like It Is,” “Unchartered TerriTORI,” “CelebraTORI,” and “Presenting Tallulah.”

The actress will even keep full interest in her SAG-Producers pension, her entertainment firms, her personal bank accounts, and her furniture. Half of the couple’s joint entertainment ventures will remain hers as well.

Spelling can also be hanging on to all future profits from her upcoming projects, which include a cookbook, a cooking series, a home-renovation show, and a travel show. By way of vehicles, Spelling will keep her 2016 Chevy Suburban and 2021 Bronco.

McDermott, meanwhile, will retain several of his vehicles: a 2006 Yamaha Stratoliner motorcycle, a 2006 Ford Expedition, and a 2017 Ford Escape.

Spelling and McDermott’s 18-year marriage saw its most public strain in 2014 after McDermott admitted to cheating, a crisis that unfolded on their reality TV show, “True Tori,” as they attempted to salvage the connection.

Despite all the pieces, Spelling says the divorce process itself was surprisingly peaceful. On the November 4 episode of her “misSpelling” podcast, she explained that they approached the split with mutual respect and a shared commitment to co-parenting.

“While we had our ups and downs and problems throughout our marriage, we had no problems throughout the divorce,” she said, adding, “which I feel is a testament to the 2 of us and wanting to actually step up and be there for the five humans we selected to create out of affection.”

Throughout the podcast episode, Spelling explained that she feels fortunate to be ending her marriage on what she calls a “clean slate.”

She explained that neither she nor McDermott asked the opposite for anything, allowing them to maneuver forward individually while still showing up fully for his or her children.

Their goal, she said, was to “set an excellent example of how families can divorce, uncouple and lead by example and still be there for his or her family.”

“Our children are most vital,” the actress noted, stressing how grateful she feels that her children do not have to take care of being drawn right into a bitter divorce battle, during which each parents are fighting for custody and financial support.

Spelling concluded, “And I feel beyond blessed that I actually have the alternative of that.”