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Highlights
- Lawsuits, unpaid loans, and financial problems have tarnished Dean McDermott and Tori Spelling’s reputation and finances.
- McDermott and Spelling were hit with million-dollar lawsuits, from unpaid loans to legal battles over TV shows.
- Despite lengthy acting careers, McDermott’s net worth is only $50,000 in 2024, while Spelling’s sits at $150,000.
Since Tori Spelling and Dean McDermott first got involved while married to other people, their personal lives have been in the spotlight. As a result, observers are fascinated to learn more about the couple, including why they stayed together so long, what their living arrangements are, and more.
Even though fans are fascinated by news like McDermott sporting a black eye, the former couple’s legal issues are arguably more interesting. After all, McDermott’s financial problems have been made worse by the lawsuits he has faced.
This article will reveal how the lawsuits Dean McDermott has faced helped ruin his finances. Then, the article will look at how much money McDermott is worth, as of April 2024.
Dean McDermott And Tori Spelling Were Sued For Millions Of Dollars
Since Tori Spelling and Dean McDermott split up, there has been a focus on how the former couple may wind up battling it out in court. For example, there was a report that Spelling freaked out when she learned McDermott might be able to request child support from her. However, lawsuits are nothing new for the former couple, as evidenced by McDermott’s long lawsuit history.
Most notably, McDermott was one of several people who were sued for $60 million in 2014. The lawsuit was focused on the short-lived reality show Tori & Dean: Storibook Weddings which aired nine episodes on Oxygen in 2011.
According to a trio of television producers, they believed their idea for a very similar show was stolen and turned into Tori & Dean: Storibook Weddings. As a result, they named McDermott and Tori Spelling in their $60 million lawsuit. Tori & Dean: Storibook Weddings’ producers Denny O’Neil Jr., Jake P. Hall, and Charles W. Malcolm were also named.
On top of the people who were named in the $60 million lawsuit, four television production companies were also named. One of those companies, Life in a Bowl Productions, was McDermott and Spelling’s.
What is the timeline of Tori Spelling and Dean McDermott’s relationship, according to People?
|
Event: |
Timeline: |
|---|---|
|
First Metting |
2005 |
|
Married |
May 7, 2006 |
|
First Child Born |
March 13, 2007 |
|
Second Child Born |
June 9, 2008 |
|
Renewed Their Vows |
May 8, 2010 |
|
Third Child Born |
October 10, 2011 |
|
Fourth Child Born |
August 30, 2012 |
|
Dean McDermott Admits Cheating |
2014 |
|
Dean McDermott Proposes to Tori Spelling Again |
April 2016 |
|
Fifth Child Born |
March 2, 2017 |
|
Dean McDermott Announces Split |
June 17, 2023 |
|
Tori Spelling Files For Divorce |
March 29, 2024 |
Roughly three years after Tori & Dean: Storibook Weddings aired, McDermott, Spelling, and everyone else involved settled the lawsuit. According to The Daily Mail’s report about the lawsuit being settled, the amount that McDermott and others agreed to pay an undisclosed amount. What was clear was that McDermott’s finances took a hit of some sort.
Unfortunately for McDermott and Spelling, settling that $60 million lawsuit wasn’t the end of their lawsuit problems. In fact, a lawsuit that McDermott and Spelling were hit with resulted in them being hit with a huge judgment in 2017 as an E! News article revealed.
In 2010, Spelling and McDermott allegedly failed to pay off a loan they owed City National Bank. As a result, the bank took the couple to court seeking $205,000. In May 2017, the court ruled that McDermott and Spelling had to pay the bank $220,000 in a default judgment.
Investopedia defines a default judgment as something that, “occurs when the defendant in a legal case fails to respond to a court summons or does not appear in court. If this occurs, a court may rule in favor of the plaintiff by default.”
After the default judgment was ordered, the unpaid loan remained a problem for Spelling and McDermott. In fact, an arrest warrant was issued for Spelling in 2019 over the unpaid loan until she was able to come to an arrangement.
The same E! News article revealed that Spelling and McDermott were facing other legal issues at the time. According to the outlet, legal documents they obtained revealed that McDermott and Spelling had been hit by a $259,108.23 lien for unpaid taxes.
Around the same time, McDermott wound up in court over an unrelated matter. In 2017, McDermott got himself in trouble after failing to pay spousal support.
In a legal affidavit, McDermott’s ex-wife Mary Jo Eustace claimed that he missed eight spousal support statements. That meant that McDermott owed $6,000, interest, and lawyer fees, according to his ex-wife.
In October 2016, Tori Spelling was hit with a lawsuit that McDermott wasn’t named in, according to The U.S. Sun. According to American Express Centurion Bank’s lawsuit against Spelling, she owed them $87,594.55 in unpaid credit card bills. In 2023, Spelling was able to settle the lawsuit by paying off her debt.
After Eustace took McDermott to court, the exes were able to reach an out-of-court settlement which allowed him to avoid a protracted battle.
Dean McDermott Is Only Worth $50,000 According To Reports
Simply looking at Dean McDermott’s lengthy career, it seems like he would be a wealthy man. After all, McDermott has been a successful actor for decades, and he has headlined a long list of reality shows over the years.
However, it appears that McDermott’s many legal troubles and other factors have severely hampered his financial situation.
According to Celebrity Net Worth, Dean McDermott is worth just $50,000 as of April 2024.
Unfortunately for McDermott’s longtime wife who is divorcing him, Tori Spelling’s financial situation reportedly isn’t much better. According to Celebrity Net Worth, Tori Spelling has a $150,000 fortune.
On the other hand, Tori Spelling has one thing going for her that McDermott doesn’t. Tori Spelling’s mother, Candy Spelling, has a $600 million fortune, according to Celebrity Net Worth.
