Is it finally over?

Brad Pitt and Angelina Jolie are set to go their separate ways, according to reports.

The Hollywood power couple are said to have been in talks with lawyers to agree a £205million split deal.

Legal papers, which the pair allegedly signed this week, reveal they plan to share their fortune equally and custody of their six children.

While the agreement will give them joint custody, the children - three of whom are adopted - will live with their mother, the News of the World reported.

The news comes after months of speculation that the couple - who are not married - were drifting apart.

Preparations for their break-up reportedly began in December when they visited a Los Angeles legal firm to begin thrashing out a deal.

Last week the National Enquirer ran a story claiming the couple's relationship had ended after a furious row at a New York restaurant earlier this month.

'Their focus is now on making a smooth transition for their children,' the magazine claimed.

'Brangelina' have not been pictured together recently. On Friday night 46-year-old Brad was photographed backstage at the Hope For Haiti Now telethon in Los Angeles without Angelina, 34.

His ex-wife Jennifer Aniston was there, however, although not with him.

A source told the News of the World: 'The document was signed in early January. Both Brad and Angelina had signed it.

'The contract was like a tailor-made version of a pre-nuptial agreement except for an unmarried couple's split.'

The pair fell for each other back in 2004 as they filmed Mr and Mrs Smith - a movie about a warring couple.

They have three adopted children - Maddox eight, Pax, six, and Zahara, five, and three biological children Shiloh, three, and 17-month-old twins Knox and Vivienne.

Neither are stranger to high-profile break-ups.

Brad split from Friends star Jennifer, 40, in January 2005 after four-and-a-half years of marriage.

She is currently linked to Scottish actor Gerard Butler, who she was spotted gazing at during the Haiti charity event on Friday.

Before Aniston, Pitt was engaged to actress Gwyneth Paltrow.

Meanwhile Jolie has been divorced twice from Monster's Ball star Billy Bob Thornton in 2003 and Trainspotting actor Johnny Lee Miller in 1999.

She has a joint fortune with Brad of $322million (£205million) and their property includes mansion in France, California and New Orleans..

Last week they failed to show at the Golden Globes Awards - even though Brad's film Inglorious Basterds was up for several awards.