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The Duke of Sussex is set to receive a significant sum on September 15 from a trust set up by Queen Elizabeth.
Boston Brand Media has uncovered the trending news that Prince Harry is reportedly set to inherit millions from the late Queen Mother on his 40th birthday, according to The Independent. The Duke of Sussex will receive a significant sum on September 15 from a trust established by Queen Elizabeth the Queen Mother when Harry was just ten years old. At that time, the Queen Mother, then 94, reportedly set aside $40.4 million tax-free for her great-grandchildren, as reported by The Times. The inheritance was split into two parts—one given to Princes William and Harry at age 21, and the other on their 40th birthdays.
A former palace aide told The Times, "A trust fund was established by the Queen Mother as a way to set aside money for her great-grandchildren when they were older, allowing her to pass a portion of her estate in a tax-efficient manner and safeguard it for them."
Sources suggest that Prince Harry may have received a larger share of the inheritance than his older brother, Prince William, 42, as the Queen Mother likely anticipated William would inherit a substantial fortune from the Duchy of Cornwall. William became Duke of Cornwall after being named Prince of Wales following King Charles' coronation, inheriting approximately $50.2 million from the estate.
When the Queen Mother passed away in 2002 at age 101, Buckingham Palace stated, "Queen Elizabeth the Queen Mother has bequeathed her entire estate (which mainly comprises the contents of her houses) to the Queen."
In her will, the Queen Mother requested that the Queen allocate specific bequests to members of her staff, with those bequests subject to inheritance tax as usual. Additionally, the Queen decided that the most significant of Queen Elizabeth's pictures and works of art would be transferred to the Royal Collection.
For questions or comments write to writers@bostonbrandmedia.com
Source: NDTV
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