Jennifer Aniston and Justin Theroux have agreed the terms of their prenup.

The engaged couple is reportedly set to tie the knot later this year after having frank discussions about their financial situation if they were to split.

A source said: ''There's been a lot of talk among friends that [the wedding] could be at their Bel Air home on May 16. They came to an agreement after Justin scaled down his demands - at one point he suggested a £1.3million 'cheating clause', but that's now off the table.

''Jen's fortune is considerably greater than Justin's, but if the marriage ends, she'll now only pay out £1million.''

The 46-year-old actress - who is believed to be worth £72 million compared to Justin's £12 million - is also supposedly suffering some setbacks whilst planning the wedding as the couple's families are having disagreements about the particulars of the event.

The source continued: ''Relations between Jen and Justin's family have been fraught recently over the size and scale of the event.

''Justin's mother Phyllis has been quite vocal about who she wants at the wedding, and while they both want to appease their families, they'd like to do it their own way.''

Jennifer is also keeping her schedule open this year so the pair can enjoy some time together.

The insider told Grazia magazine: ''Jen hasn't committed to any projects in 2015 - she wanted some time off so she and Justin can enjoy their special day.''