Prince Harry and Meghan Markle won't likely sign a pre-nup and here's why

Prince Harry reportedly won't consider a pre-nuptial contract, despite being worth millions.

We've got a little over a month to wait until Prince Harry and Meghan Markle's May wedding and while we've all got our fingers and toes crossed this union will result in a happily ever after, we know statistically there's almost as much chance their union could end in divorce.

So, if the worst does happen and Harry and Meghan's 'I dos' turn into 'I don't wanna be married to you anymore's', they'd both be able to part ways with whatever they came into the marriage with because of their air-tight pre-nuptial agreement, right? Well, not necessarily.

"Historically, members of the royal family have not had [pre-nups]," royal author Ingrid Seward told PEOPLE. "They are more popular in the United States —it's just not a British thing."

While the prince and the actress have a bit of coin to protect -- Harry is worth a reported $25-40 million and Meghan apparently used to make $50,000 an episode on Suits -- a pre-nup might be a waste of time because, as per the BBC, unlike in the United States, formal contracts entered into by a couple prior to marriage are not legally recognised in the UK:

Besides, even if the couple did sign a pre-nup, Harry, who financially would stand to lose the most in a 50/50 settlement, has most of the money his mother, Princess Diana and other family members left him tied up in family trusts and doesn't technically own any of the family estates.

"You wouldn't need a prenuptial agreement to stop Windsor Castle from being cut in half in the event they divorce, because it's not Harry's," says Duncan Larcombe, author of Prince Harry: The Inside Story.

In the case of his parents' divorce, Prince Diana reportedly was given an out of court settlement of a $25 million (USD) lump sum -- a massive payout for the time -- but was officially stripped of her royal title.

But according to a source for the Daily Mail thoughts of pre-nuptial agreements are far from Harry's optimistic hopes.

"There was never any question in Harry's mind that he would sign a prenup," the source reportedly said. "He's determined that his marriage will be a lasting one, so there's no need for him to sign anything."