Engaged couple Prince Harry and Meghan Markle are on cloud nine right now. They’re madly in love, have started building their own nest, and are just months away from their wedding day.

Among the huge plans, excitement, and fanfare is also practicality. Where public curiosity is concerned, speculation is prevalent regarding what they each will be leaving behind or gaining as a result of their marriage.

One of those topics of conversation (or gossip) is finances. Will Meghan Markle be tapping into Prince Harry’s royal wealth? It seems not. There are a couple of reasons for this and neither of them have to do with the prince being a stingy miser. Because that he is not.

As it stands, Meghan is still a United States citizen and therefore still on the hook for paying income tax to Uncle Sam. Any money she receives could be counted as income and therefore subject to IRS tax laws. She would have to include money received from her hubby in her filings!

Until Meghan becomes a naturalized citizen of the U.K. – which takes three years – and gives up her U.S. citizenship, she is still bound by these rules for any accounts connected to her name. It is not clear whether she will decide to have dual citizenship.

According to royal expert Marlene Koenig, Prince Harry received a sizeable inheritance from his late mother, Princess Diana. That fortune was worth roughly £21.5 million, which was split in half with his brother. In addition, an annual allowance of £3.5 million is shared among both princes and Duchess Kate.

It should also be noted that Prince Harry does not receive financial support from the public, but probably receives additional income through his family.

Should Prince Harry give Meghan Markle access to royal accounts or assets totaling more than $300,000 once they’re married, she would be responsible for reporting those details – in fine detail.

Members of the royal team are on top of things and it’s expected that the particulars of the family’s fortune will remain under close guard. Since it is highly likely that Prince Harry will follow in his father and brother’s footsteps by not getting a prenup, we are sure Meghan will still be well taken care of.

She has a supportive partner by her side, but she also has her own wealth. After all, she amassed her own income through her career and can claim a net worth of about $5 million. She’s got her own money to file taxes for! That tidbit of info may be just enough to quell naysayers who are suspicious of this union.

It’s their love story, but the sharing of finances is one more thing for Buckingham Palace to add to the wedding planning list. Click on this short clip to hear more about this upcoming royal marriage. It’s right around the corner!

Were you aware of this financial snag with the royal couple? Did you know none of the princes have prenups in place? Did you know the IRS still collects on its citizens who live abroad?

Source:

The Sun