She filed legal documents to end the couple's union, citing irreconcilable differences, earlier this month (Dec14), and the actor has now asked for privacy as he attempts to deal with the family drama.
In a statement released to Wenn, he says, "It's true that after 21 years, Elly and I are getting divorced. The glue that held us together has weakened, and I feel it's the only way to not only salvage our friendship, but to remain a good example to our children.
"When you have children together, you are together until death do you part. That much is obvious. I am, of course, saddened by this personal failing, but feel it's important to get this part correct, even if I couldn't get the other part correct. This is all I have to say on the matter. Please respect my privacy, as well as Elly's, and refrain from asking either one of us for further comments."
The former couple shares a daughter, Karis, while Elvira is also mum to two other children from a previous relationship.
The split is Schneider's second failed marriage - he was previously wed to former Miss America Tawny Little from 1983 to 1986.