You can almost hear the wedding bells as the Royals gear up for another exquisite and extravagant Royal wedding.
With Prince Harry and Meghan Markle due to tie the knot in just a couple of weeks, the finishing touches will be being made to what I’m sure will be Meghan’s gorgeous white gown, the sixteen tier wedding cake and the preparation of one of the most beautiful wedding venues in the world. But one of the things this loved up couple won’t be doing, is signing a prenuptial agreement (or a ‘pre-nup’).
A pre-nup, formally referred to as a Section 90B Agreement in the family law sector, is an agreement that couples can enter into before marriage that will effectively determine how the property they own will be divided in the event that they separate.
Some people see a pre-nup as a way to ‘protect’ themselves and their assets. However, a pre-nup is not as simple as it sounds and has emerged to be a highly contentious issue in family law, particularly in circumstances where parties refuse to comply with the agreement they signed.
Reports have emerged that Prince Harry, however, is not willing to enter into a pre-nup with Meghan Markle. Despite currently being fifth in line to the throne, owning over $36 million in assets, and having received an inheritance of over $18 million from his late mother, Princess Diana, Prince Harry is out to prove that true love does exist, and a pre-nup is simply redundant. Prince Harry is reportedly determined to show that his love for Meghan is everlasting and their marriage will be one that lasts until ‘death do us part’.
Interestingly, it is not a requirement that members of the royal family enter a pre-nup, which has been confirmed previously when Kate Middleton and Prince William opted not to do so.
We of course wish Prince Harry and Meghan Markle all the best on their lifetime of love and happiness. If you’re not quite the risk taker that Harry is you can find out more about pre-nups in any of these articles, or contact our Toowoomba family law lawyers today.