Prince Harry said he knew Meghan Markle was the one the first time they met. Now he’s showing his confidence in their union by rejecting a prenuptial agreement, reports the Daily Mail. What are prenuptial agreements and why does Meghan Markle want one?
The Royal Prenup
According to the article:
“There was never any question in Harry’s mind that he would sign a prenup,” one of his friends said. “He’s determined that his marriage will be a lasting one, so there’s no need for him to sign anything.”
Okay, but real talk: For one, prenups aren’t legally enforceable in the UK, although they are taken under consideration in divorce cases.
And, Harry isn’t the only royal who has shunned prenuptial agreements. Prince William and Kate Middleton reportedly didn’t sign one before their wedding, and neither did their mother, Princess Diana.
I’ve written about prenuptial agreements before. Prenuptial agreements are about more than just uncertainty in a marriage. Any couple who brings any personal or business assets to the union can benefit from one.
The most basic of these prenups lists an inventory of premarital assets that would stay with the original owner in case of a divorce.
The agreement can also include monetary support during and after a marriage, child support, and how future income or additional assets like inheritance will be shared (or not shared) if the couple splits.
Many think prenuptial agreements are for the wealthy or famous, like Prince Harry. But, you don’t always enter a marriage with riches, or guarantees that the bliss will last. It might not be a bad idea to have a plan in place – in case of intrigue at the palace.
Prenuptial agreements, typically resolve things like alimony, ownership of businesses, title of properties, in addition to the lifestyle clauses of celebrities.
There are many other, more mundane, concerns that can be addressed in the prenup:
- Caring for a parent
- Going back to school;
- Shopping habits
- Credit card debt;
- Tax liabilities;
- Alimony and child support from previous relationships; and
- Death or disability.
Many celebrities have prenuptial agreements which can have unique clauses too. For example:
Jay-Z and Beyoncé
If this couple ever find themselves not-so “crazy in love,” the couple reportedly signed a prenuptial agreement that gives Beyoncé $5 million for each child they have together, and that Beyoncé would earn $10 million if the marriage ended before two years, and $1 million each year that they remained married, up to 15 years.
Michael Douglas and Catherine Zeta-Jones
The couple has been married since 2000, but if they divorce, Catherine would reportedly receive $2.8 million for each year of marriage, according to New York Daily News. (So, if they split today, that would add up to over $50 million.) And if Michael cheated, she would also get a $5 million bonus.
Mark Zuckerberg and Priscilla Chan
There’s no word on if the couple signed an official prenuptial agreement, but the book Once You’re Lucky, Twice You’re Good reportedly revealed that Priscilla had Mark sign a relationship agreement when she moved in with him after graduating from Harvard.
Their purported agreement required the couple to have a date night once a week and spend 100 minutes of alone time together weekly outside of the office or their home.
The Women’s Health Magazine article is here.