Sources tell PEOPLE that they will both file in Florida on Friday morning.
“The settlement is all worked out,” a source with knowledge of the situation tells PEOPLE. “They’ve been working on the terms this whole time.”
The source adds: “They agreed to joint custody of the kids.”
The couple’s split comes after months of reports that the couple had been struggling, and that Bündchen, 42, “is done with their marriage,” another source previously told PEOPLE.
“She was upset about it for a long time and it’s still difficult, but she feels like she needs to move on,” the source said in early October. “She doesn’t believe that her marriage can be repaired.”
After Bündchen hired a divorce lawyer, Brady, 45, followed suit.
A source close to Brady told PEOPLE at the time that the quarterback is “hurt” about the latest developments in his marriage.
“She is the one steering the divorce,” the insider said. “She is playing offense and he is playing defense. He wants to protect himself, protect his interests, but he’s only starting to go the legal route in his defense from her. He doesn’t want this to be ugly, he doesn’t want to fight. If the divorce is happening — and it seems like it is — he wants it to go as smoothly as possible.”
The couple share two children — son Benjamin, 12, and daughter Vivian Lake, 9, along with Brady’s son John Edward, 15, with ex Bridget Moynahan. The source said that Bündchen “feels bad for the kids, but she doesn’t expect any custody issues” with Brady.
In September, a source told PEOPLE that the couple had been living apart for “more than a month,” by the time the 2022-23 NFL season had started. “Gisele is busy with her own life now, and has spent time away from Tom in Miami and New York,” said one insider.
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