David Hasselhoff's Divorce Settlement

According to the Associated Press, David Hasselhoff will pay $25,000 a month to his ex-wife and children, as documented in court documents Thursday. The divorce settlement has broken down the payments into $21,000 a month for ex-wife Pamela Bach and an additional $4,000 in child support.

Bach and Hasselhoff have two daughters, Taylor, 17, and Hayley, 15. Mother and father share joint custody of the children.

Hasselhoff and Bach have agreed to joint ownership of their house in the San Fernando Valley, but will be separating the family's cars and bank accounts. The former Baywatch star's pensions from acting and directing guilds will also be divided.

The couple were married for 16 years and divorced in 2006. Hasselhoff has expressed that he is proud of his daughters for being strong and respectful during their family's difficult time.