Steve Burtonand his estranged wifeSheree (Gustin) Burtonhave finalized their divorce.

Burton is required to pay Sheree $12,500 per month in child support for their minor children, son Jack and daughter Brooklyn, until April 2024. Then, he is set to pay $10,000 per month.

Both parties also waived their right to spousal support “now or at any time in the future, regardless of the unforeseen circumstances that may exist in the future.” However, Sheree will receive $50,000 as retroactive support.

David Crotty/Patrick McMullan/Getty

PASADENA, CALIFORNIA - MAY 05: Sheree Gustin and Steve Burton attend the 46th annual Daytime Emmy Awards at Pasadena Civic Center on May 05, 2019 in Pasadena, California. (Photo by David Crotty/Patrick McMullan via Getty Images)

In July 2022, a rep of the soap opera star exclusively confirmed to PEOPLE that Stevehad filed for divorce from his wife of more than 20 years. The actor and Sheree married in 1999 after meeting on the set ofGeneral Hospital.

According to the docs, Steve listed their official date of separation as March 1, citing irreconcilable differences.

Steve Burton/Instagram

Steve Burton Sheree Gustin family

Additionally, Steve asked the court to terminate both his and Sheree’s ability to get spousal support once the divorce is finalized.

The filing came two months after Steve shocked fans when he revealed that he and his fitness pro wife were no longer together.

“I wanted to clear something up,” the formerGeneral Hospitalactor wrote in an Instagram Story in May, adding, “Sheree and I are separated.”

Never miss a story — sign up forPEOPLE’s free daily newsletterto stay up-to-date on the best of what PEOPLE has to offer, from juicy celebrity news to compelling human interest stories.

He continued, “She recently announced that she’s expecting her 4th child. The child is not mine. We are still co-parenting our three beautiful kids. We would appreciate privacy at this time. Much luv, Steve.” Sheree is currently expecting her fifth child, which she announced onInstagramin October.

source: people.com