Failed Reality

Britney Spears and estranged husband Kevin Federline finally reached settlement in their divorce. Crooner Kevin will be richer by $1 million, considered a small amount by celebrity standards. The amount is considered peanuts since Britney Spears’ estate is estimated to be valued between $50 million and $100 million.

The agreement came after a five hour long meeting in Los Angeles on Thursday in the presence of their attorneys. According to the spokesman for Federline’s attorney Mark Vincent Kaplan, both Spears and Federline signed a global settlement on all issues of their marriage. The mutual settlement was reached on the basis of the estranged couple’s prenuptial agreement signed before their marriage in September 2004.

Earlier, Spears had been in and out of a luxurious rehab center for her alcohol problem. Her stay at the Malibu Alcohol and Drug Rehab Treatment Facility was quite eventful, where the estranged couple had temporarily agreed to joint custody of their two young children.

According to the agreement reached now, the custody of the two children Sean Preston (18 months) and Jayden James (6 months) is believed to remain with Spears with Federline gaining visitation rights.

Spears had filed for divorce on Nov 7 last year citing irreconcilable difference as the reason, She had sought custody of her sons, and visitation rights for Federline. Kevin filed court papers the next day seeking custody of the children and spousal support.

The agreement is pending approval by a judge.