DO ROYALS HAVE PRENUPS?
Should you?
When anyone ties the knot there is a lot at stake, but when you’re
Royal that usually includes a whole lot of money!
You may be surprised to learn when it comes to the royal family in England,
prenups are simply not done.
Even though there is a huge amount of money surrounding the marriage of
Meghan Markle and Prince Harry, most of the money belongs to the Queen.
Most people leaving a royal marriage are financially taken care of, but
those financial arrangements don’t take place in the court system.
These arrangements are created and negotiated privately behind closed
doors. The royal divorce, for PR reasons, is always cited as amicable.
But since most of us are not of the Royal family and divorce is an unfortunate
reality for many, I think a prenuptial agreement can really make a big
difference if and when a couple decides to divorce. Prenups are not just
for rich, famous or royals; they can in fact turn out to be a practical
tool for most of us.
Since wedding season is fast approaching it’s important to discuss
not only the venue, the dress, flowers and invitations but also your thoughts
on finances, raising children, and the details of your marriage. Somehow
amidst all the excitement of the wedding day, very few couples discuss
the nuts and bolts of a marriage, like who is going to pay bills, how
will that be done, should you have joint or separate accounts, will you
have children, how will they be raised, etc.
Here are some important items to think of while you are planning your wedding:
- Having a prenuptial agreement can allow a peaceful divorce not to turn
into an expensive bloodbath;
- Finances can be discussed and decided while you are in a happy place;
- Making sure that debts can be handled fairly;
- How property can be distributed equally;
- Developing a budget that can be explored;
- How your children will be raised;
- You can dictate certain terms of life after divorce with lifestyle clauses;
- Create your own rules for your marriage, and your divorce. Don’t
rely on the legal system.
As a psychologically-trained mediator and divorce attorney, I can tell
you that exploring a prenup is as important, if not more important, than
selecting a photographer to capture all those wonderful images of your
wedding day.
Remember, having a prenuptial agreement is a practical conversation about
your future.
Please don’t wait till days before walking down the aisle to broach
this subject.
If you would like to learn more, please call me and I will be happy to
give you an overview of the value as well as a description of the details
that your prenuptial agreement should contain. Together, we can figure
out how a prenuptial agreement can work for you and your marriage. 212.734.1551.
Warm regards,
Lois