Katie Holmes and Tom Cruise’s relationship started in a whirlwind of romance and public confessions of love and ended just as tragically. They were one of the most iconic couples in Hollywood, having been together for six years. However, much like other ‘IT’ couples, their divorce was messy, to say the least. In the middle of it was their daughter, Suri Cruise, who was six years old.

Now, many years later, their daughter is soon to turn 18. Interestingly enough, her approaching birthday has caused rumors to start stirring that Holmes will go into financial ruin after Cruise’s child support stops. However, her lawyer quickly shut these down, stating that his client was perfectly fine.

Source Claims Katie Holmes Nearing Financial Ruin

According to InTouch, since her divorce from Tom Cruise, Katie Holmes has received around $400,000 a year in child support. Recently, a source also told them that the actress has been living quite lavishly thanks to these checks from the Mission: Impossible actor.

However, now that her daughter is turning 18 and the income will stop, so will her standard of living, even suggesting that she will go into financial ruin.

“For years, Katie’s enjoyed a lavish lifestyle, thanks to Tom’s consistent support,” a source told. “But as their child nears adulthood, both mother and daughter are facing an uncertain future. It’s a terrifying prospect — going from an amazing standard of living to a question mark overnight!”

They added that outside of the child support from Cruise, there aren’t many sources of income for the actress so she will be looking for alternative methods to maintain the lavish lifestyle she enjoys.

“Dawson’s Creek royalties don’t hold a candle to what Mission: Impossible generates!” the tipster further alleged. “She’s actively looking for roles and is eager to throw herself back into the industry full-time. And don’t forget the non-disclosure agreement she signed — it’s set to expire, too. If things get tough, Katie could cash in by penning a tell-all book!”

They mentioned that Holmes is looking to get back into acting more dedicatedly, working full-time once again. They even suggested that now her NDA with Cruise is expiring, she might consider writing a book about her relationship with him.

Katie Holmes’ Lawyer Denies The Rumors

While all of these claims were very early for the world to believe, Katie Holmes’ lawyer gave a statement to Rader clearing all these speculations. Jonathan W. Wolfe stated that all of these claims made by the source are completely false, and have no backing. It would also seem that the entire situation is quite infuriating for Holmes.

“The story is riddled with falsehoods,” Wolfe shared, “One would hope there would be more newsworthy items to cover, and publications would avoid reporting as ‘facts’ claims from anonymous sources peddling such obvious misrepresentations.”

The reason for this is Wolfe mentions that it is quite odd that news publications are putting forth such claims as facts when they have no way to prove their credibility. Since all of these comments were made by an anonymous source with no way to prove what they were saying, it is only natural that those involved would get upset.