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Should Prince Harry and Meghan Markle have a pre-nup?

Posted: 10th January 2018   In: Family Law, Family Law - Berkhamsted, Family Law - Luton

The wedding of Prince Harry and Meghan Markle will be one the main events of the year with millions of people across the world wishing them every happiness.

The romance between them is plain to see, but should the couple also be considering some more practical matters?

Many people now draw up a pre-nuptial agreement, so their marriage is based on a solid financial foundation right from the start.

Pre-nups, as they are commonly known, state how a couple’s assets should be divided if the marriage doesn’t work out.

It's easy to see how such an agreement would help Prince Harry and Meghan. Both have large personal fortunes to protect.

From Harry’s point of view, there would be both personal and public concern if royal assets were lost to a divorce settlement in the future.

Meghan too will be affected as she has announced that she’ s giving up her career as an actress to concentrate on the marriage and charity work with Prince Harry.

Until recently, pre-nups were mostly associated with the rich and famous. However, they are now being drawn up by couples from all income groups.

They are particularly popular with people entering second marriages who want to safeguard their assets for their children from a previous relationship. People who have inherited money or perhaps been awarded compensation for an injury or employment claim are also using pre-nups to protect their interests.

These marital agreements are still not legally binding in the UK, but they are usually upheld by the courts if they are fair, and each partner agreed to them voluntarily.

One other possible reason for the increased interest in marital agreements is that people are becoming more pragmatic in their attitude to marriage.

There is a growing acceptance that relationships can break down and if that happens, a pre-nup can help reduce much of the stress and heartache of reaching a financial settlement that is fair to both sides.

Please contact Lorna Barry or Shelley Rolfe for more information about the issues raised in this article or any area of matrimonial law.

Posted by: Lorna Barry
Family
Berkhamsted Office