Tom Cruise and Katie Holmes have settled their divorce – in record-breaking time perhaps?

Katie’s lawyer Jonathan Wolfe said:

“This case has been settled and the agreement has been signed.  We are thrilled for Katie and her family and are excited to watch as she embarks on the next chapter of her life.”

Tom and Katie called a temporary truce while their lawyers worked quickly to reach a settlement.

“We are committed to working together as parents to accomplish what is in our daughter Suri’s best interests,” a statement for the couple revealed.

We want to keep matters affecting our family private and express our respect for each other’s commitment to each of our respective beliefs and support each other’s roles as parents.

Lawyers for both sides were negotiating marathon-style, according to TMZ.

I’m sure both Tom and Katie wanted to resolve things quickly, for their daughter Suri’s sake.

As for the settlement, Katie will have what amounts to primary physical custody, however Tom will have significant custodial time with Suri.  There are restrictions on what Tom and Katie can discuss with Suri on the subject of religion, including Scientology.  As Suri gets old, those restrictions will be eased, according to TMZ.

Tom and Katie worked together to avoid a long drawn-out divorce war, which was the right thing to do considering their six-year-old daughter.

What do you think?