Listen Now: A Royal Prenup
The biggest wedding of the year is right around the corner, and there’s a lot of pressure riding on happily ever after.
On May 19th Britain’s Prince Harry will wed American actress Meghan Markle. And despite an estimated fortune of $25 million dollars, the prince is tying the knot with no plans for a prenup.
His bride to be isn’t coming into the marriage empty handed either. She has a sizable income thanks to her work on the hit show “Suits.” But according to British law a prenup is not recognized as it is in the U.S. A judge may consider them during a divorce proceeding, but they cannot be legally enforced in court.
However, most of Harry’s fortune is tied up in trusts from his late mother Princess Diana, and the queen. Money in trusts is treated differently in divorce and not commonly split between two parties.
But on the slim chance the couple does decide to protect some of their personal assets, it’s not something that would ever be made public because what kind of fairy tale would that be?
CBS News Radio national business journalist Brian Banmiller has spent more than 40 years in the news industry, covering business, politics and the economy on television, radio and in print. Currently, his “Banmiller on Business” reports are delivered to an audience of millions nationwide.
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