Steve Guttenberg Finalizes Divorce Settlement, Agrees to $700K Spousal Support Buyout

Steve Guttenberg and Emily Guttenberg have concluded their divorce proceedings, approximately one year following their public announcement of the separation.

Court filings reviewed by Us Weekly on Friday, May 29, reveal that the pair executed a settlement agreement dated March 17, dissolving their marriage of more than five years.

Key Financial Terms

Under the settlement, the 67-year-old Police Academy actor will deliver a $700,000 lump-sum buyout in place of ongoing spousal support. Guttenberg retains all income generated before the marriage, throughout the union, and following the separation, plus his personal possessions and liquid assets.

Pacific Palisades Property

The agreement specifies terms regarding their Pacific Palisades residence, which weathered the significant Los Angeles wildfires that ravaged the region in January 2025. Guttenberg maintains full ownership of the home, while Emily retains the right to access the property for retrieving her belongings, wardrobe items, and other personal effects. She may also arrange for her possessions to be transported to storage.

Housing Support

As part of the arrangement, Guttenberg will subsidize Emily's lodging at an upscale hotel for approximately $2,000 monthly. Additionally, he will provide her access to a credit card with a $5,000 monthly limit through July 1, when she is expected to have secured permanent housing.

The couple signed a prenuptial agreement in June 2018 and exchanged vows in January 2019.