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

According to the former couple’s divorce documents, they have 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, creating a “clean slate” and prioritizing a healthy co-parenting relationship.

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

According to 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 that have shadowed them for years.

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

Spelling, 52, and McDermott, 58, both agreed to waive spousal support, as well as child support, and will share custody of their five kids: Liam, 18, Stella, 17, Hattie, 14, Finn, 13, and Beau, 8.

This represents a significant 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 both withdrew those demands.

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

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

Spelling will separately pay off a $288,000 loan and the remaining $70,000 on another.

Both will handle their own medical expenses and any credit card debt held individually.

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

Spelling will retain the residuals from “Beverly Hills, 90210,” the iconic series she starred in from 1990 to 2000, along 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 also keep full interest in her SAG-Producers pension, her entertainment companies, her personal bank accounts, and her furniture. Half of the couple’s joint entertainment ventures will remain hers as well.

Spelling is also 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. In terms 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 relationship.

Despite everything, 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 think is a testament to the two of us and wanting to really step up and be there for the five humans we chose to create out of love.”

During 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 other for anything, allowing them to move forward individually while still showing up fully for their children.

Their goal, she said, was to “set a great example of how families can divorce, uncouple and lead by example and still be there for their family.”

“Our kids are most important,” the actress noted, stressing how grateful she feels that her children don’t have to deal with being drawn into a bitter divorce battle, in which both parents are fighting for custody and financial support.

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