Sylvester Stallone and Jennifer Flavin Agree to Dissolve Marriage in Friendly Manner

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Moving on with grace and class. Sylvester Stallone and Jennifer Flavin have agreed to a peaceful termination of their union.

According to court documents obtained by ET on Thursday, both parties agreed to keep their divorce from getting contentious, out of an interest in the wellbeing of their family.

"The parties agree that it is in the best interests of each of them individually, and more importantly collectively as a family, to resolve all issues attendant to the dissolution of their marriage in a dignified, amicable, and private manner out-of-court," the document shared.

In August, ET confirmed that Flavin had filed for divorce in Florida. "Upon information and belief, the Husband has engaged in the intentional dissipation, depletion and/or waste of marital assets which has had an adverse economic impact on the marital estate," the divorce docs read. "Pursuant to Section 61.075, Florida Statues, equity dictates that the Wife be compensated and made whole by receiving an unequal distribution of the marital assets in her favor. Moreover, the Husband should be enjoined from, selling, transferring, assigning, encumbering, or dissipating any assets during the pendency of proceedings."

Flavin requested at the time that she be able to continue living in their home in Palm Beach, Florida and that Stallone not move anything from their marital assets.

Stallone responded to the news in a statement to ET, saying, "I love my family. We are amicably and privately addressing these personal issues."

The following day, Stallone responded to Flavin's divorce proceedings, saying that he "has not engaged in any conduct which constitutes intentional dissipation, depletion and/or waste of marital assets." He went on to deny her requests to have exclusive occupancy of their home and to have the option to join in any of his business entities or corporations in the future. 

Stallone did, however, accept several of Flavin's other requests, some of which included her desire to restore her maiden name and an equitable distribution of their joint assets and liabilities. 

Amid their split, Stallone has covered up two tattoos that he previously had done in honor of Flavin.

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