Friday, February 27, 2009

Russell Simmons Stuck With $40K A Month In Child Support

For reality star Kimora Lee, it's Life in the Fab Lane, indeed.

The divorce between Lee, 33, and Russell Simmons, 51, has been finalized, with huge payouts for the model/fashion designer.

Simmons has agreed to pay child support for daughters, Ming, 9, and Aoki, 6, of $20,000 each per month until the girls turn 19, according to court papers filed Thursday in Los Angeles.

Lee also won sole legal and physical custody of the girls, with monitored visitation for Simmons.

"When the children are in [Simmons's] custody, they shall be accompanied at all times by a nanny and security person," the filing reads.

Simmons also agreed to provide a new car, worth at least $60,000, for the children's use, until they turn 16. The car will be replaced every three years, documents show.

The papers also outline a meticulous, seven-page agreement on Simmons's visitation rights, giving him access to the girls every eighth week during their school year and on various holidays.

The couple split in March 2006. Two years later, Lee said she's "kind of" engaged to boyfriend Djimon Hounsou.

"Both sides reached this settlement amicably, and are looking forward to moving on with their lives," Lee's attorney Daniel Jaffe told PEOPLE.

A lawyer for Simmons had no comment.

I can understand a new car every three years, but insisting that it cost at least $60,000 seems extra shallow (even by Kimora standards). But at least this frees Russell up to hang out on beaches with 20 year old models.

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