British royal, Prince Harry has refused to sign any pre-nupital agreement before his marriage to Meghan Markle. He does not need any agreement to protect his royal fortune because he is confident on his romance. Prince Harry is the fifth in line to the British throne and has about $54 million fortune which does not need safeguarding, in case his marriage doesn't work ahead.

“There was never any question in Harry’s mind that he would sign a prenup,” a friend of the prince told the Daily Mail. “He’s determined that his marriage will be a lasting one, so there’s no need for him to sign anything.” Harry seems to have followed his big brother, Prince William's footsteps, who too did not sign a prenup before his marriage to Kate Middleton.

Prince Harry and Meghan will tie the knot at Windsor castle on May 19 this year, with the US actress becoming Her Royal Highness Princess Henry of Wales. She reportedly has a property worth $7 million. The couple is busy organising in their wedding currently and no doubts, it will be a grand affair.

The wedding will see members from every corner of the UK. It is being reported that more than 2,600 people will be invited, with 1,200 being members of the public who will have access to the grounds of Windsor Castle on the day. A statement from Kensington Palace earlier this month read: "Prince Harry" and Ms. Markle would like their wedding day to be shaped to allow members of the public to share in the joy and the fun of the day."

What is a prenuptial agreement?

 A prenup or prenupital agreement is a contract signed before a marraige union by the people who will be getting married to each other. The main agreements within are regarding property and support in case of a divorce later. This also includes the division of assets. It is made for safeguarding of property in case, the marriage union does not work later.
The laws regarding prenups differ from countries to countries. Countries like Belgium and the Netherlands, the prenuptial agreement not only provides for the event of a divorce, but also to protects some property during the marriage, for instance in case of a bankruptcy. Many countries, including Canada, France, Italy, and Germany, have matrimonial regimes.
Prenupital agreements are not compulsory even in UK. But a lot of people opt on signing one as there is a rising number of divorce cases.

 

(The above story first appeared on LatestLY on Mar 18, 2018 10:54 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).