Tori Spelling and Dean McDermott Agree to Manage $1.7 Million Tax Debt Amid Divorce

Tori Spelling and Dean McDermott filed for divorce on June 3, 2023, after 17 years of marriage. Recent documents from the Los Angeles County Superior Court highlight their commitment to tackle their substantial $1.7 million tax debt together. This financial burden has persisted since at least 2018, adversely impacting their financial stability.

Their agreement to jointly manage this debt demonstrates a cooperative approach during their legal separation. The couple intends to work with a financial advisor to develop a repayment strategy. Sources close to the situation report that they acknowledge this obligation as a priority.

In 2022, Spelling and McDermott faced significant financial strain, including eviction notices for unpaid rent, which led to a public discussion about their money troubles. Previous reports confirmed their combined income from reality television projects, which peaked during the airing of "Tori & Dean: Inn Love" from 2007 to 2010, but have dwindled in recent years.

Earlier in 2023, Spelling was involved in a publicized incident where she faced potential foreclosure on their family home in Los Angeles. This reflects a growing trend among solely dependent income families, where tax debts often compound already existing financial issues. Similar to when actress Lindsay Lohan faced over $230,000 in tax debts in 2012, Spelling's financial troubles have become a significant narrative in her public life.

Industry sources suggest that Spelling, who has leveraged her reality TV fame, may explore new projects with an emphasis on financial recovery. She is set to star in the upcoming film "The Cunning Man," expected to release in late 2024. This would mark a significant step in her career, diversifying her income sources.

Dean McDermott, previously known for his role in the series "Due South," will also pursue acting opportunities in the coming year. Sources indicate that his involvement in new projects might contribute to addressing their 2023 debts. Their cooperative stance during their divorce could set a precedent for other celebrity separations.

Historically, public separations often lead to financial chaos, exemplified by the divorces of high-profile couples like Brad Pitt and Angelina Jolie. Their battle over shared assets and debts illustrates how similar divorces can complicate financial matters. This current scenario with Spelling and McDermott emphasizes the importance of addressing debts swiftly in divorce settlements.

As they navigate this transition, it remains crucial for both parties to balance financial matters with their personal lives. Future updates on their repayment plans for the tax debt will likely shape public perception of their split. Their joint effort presents an uncommon model within Hollywood divorce proceedings.