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  #1  
Old 01-14-2010, 11:18 AM
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Spanish Millionaire leaves his Fortune to the Prince & Princess of Asturias: Jan 2010

Ultima Hora Digital - Los Príncipes de Asturias heredan la mayor fortuna personal de Ciutadella
Does this mean that the princes will inherit a large fortune?
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Old 01-14-2010, 11:37 AM
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This one is the only news about the topic so it will be necessary to wait to know if it is true, at the moment Zarzuela has not confirmed anything. If it is true, and this man has decided to leave his fortune the Royal Family, they will have to study if they accept it or not.
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Old 01-15-2010, 01:16 PM
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According to this article, the royal palace has commented the possible inheritance:
Earthtimes.org - Spanish millionaire leaves his fortune to royal family : Finance General
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Old 01-15-2010, 02:09 PM
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Today there has been new news on the topic. The House of the King has said that still they are studying the topic, they want to have all the information before taking a decision.

It seems that the half of the inheritance would be to create a foundation under the presidency of the Prince and another half to distribute between the prince, the princess and 8 grandchildren of the King. The presence of 8 children in the testament complicates the decision, because the laws with regard to the heredities and the children are very strict, and a judge has to approve what is decided.

If they will accept it, 68 % of the heredity would have to be use for paying the taxes. According to a newspaper, if they did not accept the fortune would go outside Spain.

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Old 01-16-2010, 04:45 PM
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Los Príncipes destinarán su parte de la herencia del millonario menorquín a fines sociales · ELPAÍS.com
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Old 01-16-2010, 07:18 PM
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more on the subject: the money of the legacy will be used for social and phillantropic activities

Los Príncipes destinarán su 'herencia' a fines sociales y benéficos | España | elmundo.es
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Old 01-20-2010, 06:16 AM
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Svenskdamtidning.se has a report about the inheritance for Felipe and Letizia from Juan Ignacio Belada Llabres:

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Old 01-20-2010, 06:55 AM
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how match many they heritate is it a huge some
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Old 01-20-2010, 08:09 AM
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Tens of millions I believe. Even after 68% tax, and devided in 16, it will be a comfortable sum for each grand child.
However, I believe that the court already announced that the prince and princess of Asturias will donate the part their children receive to charity.

I was wondering, do the prince and princess, or the royal family in general have a fund of their own? Like the Orange Fund in the Netherlands for example?
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Old 01-20-2010, 08:46 AM
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However, I believe that the court already announced that the prince and princess of Asturias will donate the part their children receive to charity.
It's not exactly like this, they will donate thier own part to social aims. Acoording to some lawyers they can't do nothing with their children part.
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Old 01-20-2010, 08:57 AM
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I am going to try to do a summary on the topic, though all are speculations of the press, and still there is no real information.

According to the press, the fortune of this man would be approximately 30 million Euros.

In his testament he arranged that the half of his fortune was to create a foundation, under what he has specified and that would be directed by the Prince. The money is not for the Prince but for the foundation, the Prince is only the person who has been chosen to coordinate it.

Another half would be divide between the Prince, Princess and 8 grandchildren of the King.

If the Royal Family was not accepting the heredity, according to a information, this one might go away to Israel.

According to the laws of the Balearic Islands where this man was living, if they were accepting the heredity 68 % (an economist speaks about 82) it would have to be to pay tax, to it there would be necessary to add the payment of other legal steps and of the lawyers. The final heredity would be small, and even an expert in economy has managed to say that it would remain in nothing.

The Royal Household still is studying all the information to decide if they accept it or not. In case of accepting it, the Prince and the Princess already have said that they would give to charity what was corresponding to them.

If they resign, the pricipal problem is that the foundation that would benefit to the society would not exist.

Another problem is the heredity of 8 children, who do not have the legal age to take decisions. Their parents are thaeir tutors, but according to the spanish laws, cannot take decisions about a heredity, without the authorization of a judge.

It will be necessary to wait a few months to know how concludes everything.
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Old 01-20-2010, 01:54 PM
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Well, IMO I think the best they can do is to invest the money in charity, they have a good life and there are a lot of people outside who doesnt.
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Old 01-20-2010, 02:46 PM
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Is the tax still 68% even if you pledge it to charity? That seems ridiculous. Charity could lose millions!
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Old 01-20-2010, 03:04 PM
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Old 01-20-2010, 07:42 PM
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Wow, what an interesting story! I imagine the family feels they are walking a fine line.
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Old 01-24-2010, 05:18 AM
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I really hope they will give the money for charity. Eveything else would surprise me.
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Old 01-24-2010, 11:12 AM
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The gentleman making the bequest did so specifically giving the individuals half the inheritance and assigning the other half for a foundation. I certainly hope the royal family honors his wishes. The half inherited by the individuals should stay with them as their personal funds.

If the deceased wanted all of the money to go to charity he would have stated so in his will.
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Old 01-24-2010, 11:28 AM
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A most curious bequest. I am keen to see how this one plays out.
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Old 01-24-2010, 12:54 PM
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What an interesting request, this man wasn't a relative of the family, or had any connection did he?
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Old 01-25-2010, 12:24 AM
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What an interesting request, this man wasn't a relative of the family, or had any connection did he?
Probably not that unusual. Didn't Denmark's Prince Joachim inherit Schackenborg from someone not related to the royal family?
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