UPDATE 6:18 - Will Smith slammed the continuing rumors that he and his wife Jada Pinkett Smith are on the verge of divorce with an uncharacteristic post to his Facebook.

"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 wrote on Aug. 3.

"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."

ORIGINAL

Following years of divorce rumors, Will Smith and Jada Pinkett Smith have taken a significant first step to make their split official by the end of the summer.

The Hollywood couple reportedly "worked out a confidential settlement to protect their $240 million fortune, and prepare their kids [son Jaden, 17, and daughter Willow, 14] for the fallout," an insider told RadarOnline.

Both actors have strongly defended their marriage in interviews promoting their various projects with Pinkett Smith stating as late as July 6 that Smith "knows he got me on lockdown." The "Suicide Squad" also admitted he and his wife have struggled with their relationship in the past, especially when it comes to separating their work and personal lives.

"Jada and I have struggled with that a little bit because the thing is one person is in work mode while the other is in chill mode," he told HollywoodLife in February.

Unfortunately it seems, the struggle became too much to handle for both partners. Now they'll go about breaking off their marriage in a "carefully choreographed manner," according to RadarOnline.

"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," the insider told Radar. "They're exhausted from trying to maintain the façade of a happy union."

Rumors have followed the couple for cheating on their spouse with their co-stars. Smith allegedly had an affair with his "Suicide Squad" co-star Margot Robbie, while Pinkett Smith cheated with her "HawthoRNe" co-star Marc Anthony in 2011, according to Radar.

The couple has not stated publicly either way on the status of their relationship.