Kevin Costner's ex-wife Christine Baumgartner is reportedly glad to have settled her "nightmare" divorce from the actor.

The pair have been locked in a bitter dispute since the former model filed to end their 18-year marriage in May, but they have now settled their legal battle with reports suggesting their pre-nuptial agreement was enforced and Baumgartner was unable to challenge the terms without facing the possibility of paying a penalty in excess of $1 million and covering the 68-year-old actor's attorney's fees.

A source told "Christine didn't really have a choice but to settle because Kevin had all the power. Had she continued fighting, she would risk losing everything."

The insider added the former handbag designer is glad the ordeal is over, saying: "Christine said it is what it is. That she won't miss going to court and having sleepless nights ... She was the one who wanted to settle things outside of court in the first place. She never wanted any of this circus. It's been a living nightmare and now she just wants to move on and start fresh and begin making her new house a home."

It comes after the pair confirmed the divorce had been settled in a statement which read: "Kevin and Christine Costner have come to an amicable and mutually agreed upon resolution of all issues pertaining to their divorce proceedings."

Terms of the settlement have not been made public, but reports Christine received more than was outlined in their prenuptial agreement.

Over the weekend, the 48-year-old beauty agreed to the terms of a three-page settlement letter. It is believed her request for $850,000 in legal fees was removed from the arrangement. Last month, a judge agreed with Costner's proposed amount of child support for Cayden, 16, Hayes, 14, and 13-year-old Grace, setting his monthly payments at $63, 209 - falling short of Christine's request for $175, 057. She later reduced her request to $161, 592 a month and argued luxury living is in the teenagers’ “DNA at this point” as they are accustomed to lavish holidays and private jet travel.