UPDATE, August 3: Will Smith and Jada Pinkett Smith have officially denied reports of an impending divorce. Will posted on Facebook today (Aug. 3), writing, "Under normal circumstances, I don't usually respond to foolishness. (Because it's contagious) But, so many people have extended me their 'deepest condolences' that I figured -- 'What the hell... I can be foolish, too!'"

He continued, writing, "So, in the interest of redundant, repetitious, over & over-again-ness... Jada and I are...NOT GETTING A DIVORCE!!!!!!!!!!!!! : -) I promise you all - if I ever decide to divorce my Queen - I SWEAR I'll tell you myself! ‪#‎Dumb‬ People Should Have to Wear Scarlet D's."

Jada further debunked the rumors with a single tweet.

The original story appears below.

Will Smith and Jada Pinkett Smith are reportedly divorcing after 17 years of marriage.

According to Radar Online, the couple have already laid out the legal groundwork for their eventual split and plan on announcing their breakup to the public by the end of summer.

A source reportedly told the site, "For Will and Jada, holding it together these past few years has been tough because their marriage has been on life support for a long time. They’re exhausted from trying to maintain the façade of a happy union. They’ve decided to pull the plug in a carefully choreographed manner, [and] agree announcing their split at the end of the summer is the right move.”

Will recently talked about his marriage to Jada, noting that their conflicting schedules sometimes make it difficult to strike a proper balance between work and their personal lives. He said (via US Weekly), "Jada and I have struggled with that a little bit.. The problem is one person is in work mode while the other person is in chill mode. Then it's like you're both trying to come up."

He continued, saying, "It is really something that will happen in time. And you'll realize that you're either really committed to having a relationship, or you're really committed to coming up. At some point one or the other is going to have to suffer."

Will and Jada first met back in 1995, when Jada auditioned for a role on The Fresh Prince of Bel-Air. They have two kids together, Jaden and Willow (both celebrities in their own right) and, per Radar, have allegedly "worked out a confidential settlement to protect their $240 million fortune," also protecting their kids in the process.

The news remains unconfirmed for now, but if true, Will and Jada's divorce follows a few other high-profile splits that took place in 2015. Kourtney Kardashian and Scott Disick broke up after a tumultuous, on-again-off-again relationship that lasted over nine years. And just a few weeks prior to that announcement, Ben Affleck and Jennifer Garner confirmed their divorce, following over ten years of marriage.

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