Reese Witherspoon and Jim Toth Have Been Quietly Splitting Property for Years: They Were ‘Preparing for the Next Chapter’

They’re getting their ducks in a row. Before announcing the split, Reese Witherspoon and Jim Toth had been privately dividing assets for years.

“Reese has spent the last year preparing for the next chapter,” an industry insider said exclusively in Us Weekly‘s December 2021 edition, saying that the Legally Blonde actress, 47, has been working on her finances since late 2020.

While Witherspoon and Toth, 52, announced their split on Friday, March 24, they had been selling their shared properties and companies for almost two years.

“They decided their marriage wasn’t going to last forever and that they should have a plan for splitting up their assets that wouldn’t destroy what they built together,” the source explained at the time, noting the estranged spouses methodically executed this plan.

The Sweet Home Alabama star, for example, sold Hello Sunshine, which she co-founded with Seth Rodsky in 2016, for $900 million in August 2021. Toth was a co-owner of the media company.

“Instead of having to split up a huge company with dozens of employees and several divisions, they have a big pile of money — and there’s plenty for everybody,” the insider told Us in December 2021.

The assets of the Oscar winner and talent agency include many properties in both California and Tennessee. According to Dirt, Witherspoon sold the couple’s Malibu farmhouse for $6.7 million in November 2020.

After two years, the couple made a profit from their English Country-style mansion in Los Angeles. The estate sold for $21.5 million, about $5 million more than Witherspoon and Toth bought for it in March 2020.

The Morning Show host and the businessman sold their 6-bedroom, 8-bathroom, 8,399-square-foot Nashville house for $7.35 million in October 2022.

In January, the couple listed a second Malibu house. The home is presently seeking “backup offers,” according to Redfin. The first price listed was $7.6 million. The newest sale by the separated couple happened barely two months after they announced their split.

“We have some personal news to share … It is with a great deal of care and consideration that we have made the difficult decision to divorce,” the Draper James founder wrote in a joint statement with her estranged husband via Instagram on Friday. “We have enjoyed so many wonderful years together and are moving forward with deep love, kindness, and mutual respect for everything we have created together.”

The message, which was sent two days before Witherspoon and Toth’s 12-year anniversary, concludes by requesting that fans “respect our family’s privacy at this time.”

Tennessee, 10, is the Wild actress’s son with Toth, whom she married in March 2011. Witherspoon is also the mother to ex-husband Ryan Phillippe’s children, Ava, 23, and Deacon, 19. The Cruel Intentions co-stars parted in 2006 and divorced two years later.