By Mariana Dussan (staff@latinospost.com) | First Posted: Mar 06, 2013 06:44 PM EST

Paulina Rubio and her soon-to-be ex-husband Nicolás "Colate" Vallejo Nágera have finally come to an agreement in their divorce and custody of their child, Andrea Nicolás. It has been a year since the two have been trying to resolve matters in court, but on Monday Rubio and Nágera decided on a confidential economic settlement.

"Colate has accepted the sum of $243,000 [he will have to pay taxes], amount which will be paid out in three years. He will receive $6,750 every month," a source told People En Español. "Yesterday, during the legal process it was also determined that Paulina Rubio and Colate will have shared custody."

Nágera initially asked for $1 million for child support, but by the recommendation of his lawyers he took the $243,000 that Rubio offered, the magazine added.

On June 30, as Rubio and Nágera tried to settle their divorce at the Family Court in Miami Dade, Fla., they ended up in a heated argument causing the judge to order family mediation and a new court date in June, according to a video clip shown in "El Gordo y La Flaca."

"I can't speak with him," Rubio said during the hearing. "He harasses me, insults me and I'm tired. I need to continue with my life. He doesn't want to get a divorce, it's the truth. The only important thing that he has done in his life is have a child with me."

Nágera didn't stand down and responded with the same firm tone as the Mexican singer: "I have been taking care of my son 80 percent of the time and by myself, without any babysitter," he said. "I come from another country and I live in this country only because of my son and because I want him to have the best of her and me. I come from a very wealthy family and don't have a reason to be here fighting with judges and lawyers."

According to the magazine's source, Rubio decided to settle out of court instead of heading back in June because she thought that it would be best for everyone involved. "For Paulina the most important thing is her son and with [this settlement] she can take back her life," the same source commented to People en Español.