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Charlie Sheen gives up custody of kids

As the owner of Bloom Creatives, Caroline Gutierrez Goddard tells stories with words and photos -- and as such, is a regular contributor here at SheKnows.

Bye-bye Daddy Sheen

Charlie Sheen has given up custody of the two children he fathered with ex-wife Denise Richards.

Denise RIchards and daughters

The former couple, whose incredibly acrimonious split and custody battle was fantastic fodder for gossip rags for months, came to the new agreement after Sheen's current legal troubles began.

To be more specific: Sheen is accused of holding a knife to his current wife's (Brooke Mueller) throat and threatening to kill her if she divorced him. The actor had fallen off the wagon despite the presence of a sobriety coach. He is also allegedly having an affair with a hooker.

Not exactly a great environment for little Sam and Lola to be around.

The original custody agreement gave Richards physical custody and Sheen visitation rights. Under this new arrangement, Richards has sole custody and can make all decisions pertaining to the girls herself, without having to consult Sheen -- including medical, education and travel.

Sheen still has to pay full child support that can range from $50,000 to $120,000 a month. His prenup with current wife and mother of twins Brooke Mueller would give her $55,000 to $125,000 a month if the couple divorced, but other terms make staying in the marriage a much more lucrative move for Brooke than leaving at this point.

For example, Sheen is in the middle of renegotiating his Two and a Half Men contract, which currently pays him $800,000 per episode, but for various business reasons is not included in his marital assets in the prenup. If Brooke walks now she would leave with a little over $3 million. Charlie can make that money back in a few weeks -- and Brooke could help him spend that and more.

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