AceShowbiz -

Mariah Carey and James Packer may not have a prenuptial agreement when they are married. A source close to the R&B diva tells Radar Online that "it seems like she has convinced him that there is really no need to even have one to begin with."

Should this be true, it could be considered a stunning decision taken by the Australian businessman. While the 45-year-old singer's fortune is estimated to be at $520 million, her 48-year-old fiance is reportedly worth $4.7 billion.

But Mariah has allegedly told him "that she really doesn't need his money because she has plenty of her own." The source adds, "James said he did not want to upset Mariah by focusing on the whole prenup thing because she would like to think that they will be together forever. Bringing up such a minor issue would just take the romance out of the equation."

James proposed to Mariah with a 35-carat diamond ring in New York on January 21 during a private dinner attended by her close friends. They recently rented a luxury home outside L.A. at a little less than $250,000 per month.

While the wedding date has not been revealed yet, she has reportedly planned a lavish wedding on Australia's Hayman Island. "It's an absolutely stunning spot and they plan on using one of James' private planes to shuttle their guests in. It will be an amazing party," a source tells Daily Mail. Words are, she has asked at least four designers to work on her dream wedding dress.