According to the reports, the Queen left £14 million for her grandsons Prince Harry and Prince William. But she left more assets for the newly-wed prince as compared to his elder brother. Just like any other grandmother, Queen put aside her funds to be given to Harry and William on her death.
Back in 1994, the Queen mother established a trust wither her funds, as reported by BBC. And when she passed in 2002, Prince Harry received a huge amount of cash left by her grandmother. According to the reports, the decision purely made after a mindful discussion and there was no favoritism in it.
Prince William is set to take the throne after the death of Prince Charles as he is third on the list. And Duchy of Cornwall will be the next throne William will take over. This way he will get more benefits and funds than Prince Harry.
According to the will of Queen mother, she has left a lot for her heirs. The value of her entire state is £50 to £70 million and she gave it to her only daughter, as stated by her will. The inheritance of Queen includes artful paintings, horses, jewelry, and precious chine.
As everyone knows, the entire worth of the Royal Family is millions of pounds and most of their assets came from the inheritance. But this is not the case for every royal member as most of the assets for Prince Harry and William came from their late mother.
According to the reports, Princess Diana left £10 million for each of them and asked to award the money when they will turn 30. But their assets did not stop here as their grandmother also left a substantial amount for her grandsons. But there was one question in everyone’s mind following the fund’s distribution made by Queen mother – why she left more for Harry?
According to many, she made this decision on the line of succession and not on her personal preferences. As discussed earlier, Prince William who will take over as the king will get more funds than his brother, the Queen mother decided to give more to the younger prince.
According to the Express, Prince William is set to take over as the King of Wales after his father Prince Charles and that means that he will also take the throne of Duchy of Cornwall – a private estate which funds the public and consists of 53,000 hectares of land.
By looking at all these facts, it looks that Queen was compensating the fact that Prince William will eventually more after taking charge of Wales. After her death, Clarence House – the residence of Queen – was given to Prince Charles. All the assets she left was not taxed, as suggested by the reports.
Royal family should thank Prime Minister John Major with whom the legal agreement was signed which states there will be no inheritance tax on the estate. The clause set the threshold of £250,000 for the tax to be imposed on. The agreement was made to save Royal Family’s wealth from erosion.
There is a difference of only three years between William and Harry but everything will change when William will take over as the King of Wales. When William will take over as King, his entire life will change and there is no doubt in it. The way he deals with the public and they he treats his family members, everything will change. When the Queen died, her official statement reported: “Queen Elizabeth has transferred everything to The Queen”. The will further state that all the artworks of the Queen’s should be transferred to the Royal Collection.
Royal collection of Queen Mother includes works by Carl Fabergé and Monet. These items will be displayed at the exhibition of “Royal Treasures” which is due to held on May 22 at the gallery of Queen.