Relax, There Are Perfectly Sensible Reasons That Explain Why Prince Harry And Meghan Markle Turned Down A Prenup
Prince Harry, who is valued between $24 to $40 million, and Meghan, whose net worth is estimated at $5 million, have chosen not to safeguard their assets with a prenup.
But hold that thought! Before you go on a tirade about why this isn't a great idea, there are some pretty good reasons for why Prince Harry and his royal bride opted to forgo the otherwise essential contract.
Let's start with the surface:
The couple is certain they are marrying for love. And from the looks of it, many have observed that the potential for their separation—or worse, divorce—is rather unlikely. Therefore, a prenup is unnecessary.
In the United Kingdom, prenups don't hold as much of a significance as they do in other countries where they are legally recognized. While UK marriage and divorce laws acknowledge the existence of a prenup, they are not automatically enforced, to put it simply. With that, Prince Harry and Meghan's decision is something they share with thousands (perhaps millions) of other ordinary UK citizens who have also opted to marry without a prenup.
It's not something royals do:
Similar to ordinary UK folks, British royals historically don't sign prenups. In fact, Prince Charles, first in line to the throne, and Prince William, second in line, both do not have prenups.
Trust fund protection:
Typically, prenups are put in place to protect the assets spouses accumulated before they become one after marriage. The thing is, most of Prince Harry's wealth are held in trusts (from the will of his late mother, Princes Diana, and as stated in other legal documents prepared by other relatives, including the Queen Mother), and wealth inherited from trusts are treated differently in a divorce.
So much is owned by someone, or something, else:
This follows the same laws that govern wealth in trusts. Many of royals' assets, including those owned by Prince Harry, either belong to the Royal Collection, other trust funds, or Queen Elizabeth II herself (her royal fortune is valued at an eye-watering $500 million), which means they're not his to include in his prenup.
Royal divorces are different:
In the event of a divorce in the royal family, some details may be handled outside of court. Because of the nature of prenups not being legally enforceable in the UK, royal divorcees have the option of settling split-ups in ways that are most acceptable to those involved. Take Princess Diana's case, where she was awarded with a sizable financial settlement, a new title, and security protection.
Postnups are a thing:
That's right! Should the couple change their mind, there is now something called a postnup. The legal contract functions the same ways a prenup would, the only difference being they are set in place after a marriage takes place.
We'll never really know:
Even with their extremely publicized lives, there are still some things the royal family will choose to keep secret. Who knows? The couple may have actually signed a prenup and not announced it. After all, they are in no way obligated to keep the public, as adored by them as they are, updated about all the nitty gritty details of their marriage.
The royal wedding is set to take place on May 19, at St George's Chapel in Windsor Castle.
Photos from @theroyalfamily