Dean McDermott has revealed new details about his and Tori Spelling’s finances as their divorce moves forward.
The 58-year-old submitted court documents on Friday, Sept. 5, showing his monthly income and expenses. According to documents obtained by PEOPLE, McDermott earns around $3,800 per month from his rehabilitation center, Conscious Community & Vanity Recovery.
He claims Spelling makes between $3,000 to $75,000 per month depending on her work projects.
McDermott lists zero income from acting and producing jobs. He says his entertainment work “decreased drastically” in the past year because of the “SAG/AFTRA strikes and change in the industry.”
Major Debt Load Revealed
McDermott reports being $215,700 in debt.
The debt includes three overdue payments on a $200,000 loan with City National Bank. He also owes $2,500 to Capital One and $12,000 to Care Credit for credit card debt.
An additional $1,200 is owed for dental work.
McDermott lives with his girlfriend, Lily Calo, who earns $600 monthly. She doesn’t contribute to their $3,980 in monthly expenses, according to the filing.
The documents show that the four minor children McDermott and Spelling share stay with their mother 90% of the time. Their 18-year-old son Liam is also part of the family.
McDermott gets custody of their youngest son, Beau, 8, on the first, third and fifth weekends each month.
Long History of Financial Issues
City National Bank sued Spelling and McDermott for $400,000 in 2024 over a 12-year-old loan.
The bank filed a second writ of execution against the couple to enforce a 2017 judgment. They allegedly defaulted on the $400,000 loan they took out in 2012, with interest building over time.
Court documents show Spelling owed $219,836.66 while McDermott was responsible for $202,086.10, including fees.
This was the third attempt by City National Bank to collect the loan. The bank first sued them in 2016, won a court decision in 2017, and tried to enforce the judgment in 2019.
The couple also faced a $259,108.23 tax lien from California in 2016 for unpaid 2014 taxes. Spelling was sued by American Express that same year for $37,981.97 in unpaid credit card debt from 2015.
Spelling addressed their money troubles with PEOPLE in 2018:
“We’re not perfect, we have made a lot of choices financially with real estate that didn’t work out … and that just escalated into this story about financial struggles, bankruptcy. To this day that haunts me! We’re not bankrupt, we’re not struggling, we’re fine!”
Divorce After 18 Years
Spelling filed for divorce from McDermott in March 2024 after 18 years of marriage.
She listed their separation date as June 2023.
The Beverly Hills, 90210 star told PEOPLE later that year that they maintain a good relationship focused on their children.
“We’re really amicable. I know in Hollywood people think divorces have to be ugly, ours are not. We co-parent really well, we’re good friends, and he’s one of my biggest supporters.”
Spelling even posted a Father’s Day message for McDermott this past June.
The Instagram post included family photos with a caption reading: “Happy Father’s Day to my baby daddy and rad co-parent @imdeanmcdermott.”
She added in her story: “We created 5 beautiful humans together .”
