Grazer filed formal separation papers in Los Angeles Superior Court Monday citing irreconcilable differences and seeking joint custody of their children, Patrick, 2, and Thomas, 6, People magazine reported.
The couple had a prenuptial agreement and share no community property, the papers said.
Grazer is a partner with Ron Howard in Imagine Entertainment, which won a best picture Oscar in 2002 for "A Beautiful Mind."
Levangie-Grazer wrote the screenplay for the 1998 Julia Roberts movie "Stepmom" and the 2005 novel "The Starter Wife."
Notable deaths of 2014 [PHOTOS]