The Royal Finances

[pinkylou]

Originally Posted by kelly9480

Harry probably didn't inherit anything from Earl Spencer. Earl Spencer left each of his daughters stocks worth (in 1992 terms) around £5 million. How much that's worth now depends on how well that portfolio has been managed, but no sources have stated Spencer left his grandchildren money.

Considering the QM's debts, some sources doubt she ever established trusts for her grandchildren, which contradicts the long-held belief that she did, but of course, no one knows for sure outside the Windsors and their financial advisers.

Diana's wealth (in cash & stocks) was around £22m at her death. Her jewellery was estimated to be worth about £2m by Andrew Morton in that Windsor Wealth book, but Morton's estimates purposefully didn't take into account royal provenance, so the jewels would actually be worth much more. There's some doubt whether Harry could inherit evenly in the jewellery. Obviously, pieces that came from the Windsors' historical collection, like the tiara and the emerald necklace, will go to William so as to stay in the family. Is the rest of the stuff worth enough to make up for William getting the historical pieces? I think a lot would depend on which son got the sapphire brooch.

a very well respected royal correspondent in the UK James Whittaker, has said in many british tv programmes that half of diana's estate will evenly be divided between her sons as stated in her will, william won't be taking all her jewellery due to the fact that one day he will be king, and also she felt that no distinction should arise between her two sons. in another documentary, one of the queen's cousin did verify that the queen has a trust for all her grandchildren including anne's children.
and yes earl spencer has opened a trust for harry, diana's brother also spoke of it in a programme i once watched over here in the UK ( i believe it was tonight with trevor macdonald)

[ingenue]

Here's what I can't quite grasp-- what about Princess Margaret? In light of her jewels and items from her personal collection to be auctioned off at Christie's-- does that mean that she didn't leave much to her children, Lady Sarah and Viscount Linley? Why would they need to sell her jewellery, i.e. the Queen Mary riviere and the Poltimore tiara, (esp the diamond riviere, which has such significant royal provenance)? it was said in an article that proceeds will go to paying inheritance taxes... Did she leave much to her children??

[branchg]

Originally Posted by auntie

Did the Queen's Mum set up trusts for the Armstrong Jones (Princess Margeret's) children?
and who set up trust funds for the Kents? Their father was killed very early on? Was it Queen Mary or who else?

The Queen takes care of Viscount Linley and Lady Sarah. In addition, Princess Margaret had a small fortune of her own, including her home in Mustique, which Viscount Linley most likely inherited.

George V set-up trusts for The Dukes of Kent, Gloucester and York (Edward was Prince of Wales and had his own money from the duchy of Cornwall). In addition, Princess Alice inherited money from her father, The Duke of Buccleuch, which Prince Richard probably benefits from.

[branchg]

Originally Posted by ingenue

Here's what I can't quite grasp-- what about Princess Margaret? In light of her jewels and items from her personal collection to be auctioned off at Christie's-- does that mean that she didn't leave much to her children, Lady Sarah and Viscount Linley? Why would they need to sell her jewellery, i.e. the Queen Mary riviere and the Poltimore tiara, (esp the diamond riviere, which has such significant royal provenance)? it was said in an article that proceeds will go to paying inheritance taxes... Did she leave much to her children??

Viscount Linley owes inheritance tax on Margaret's estate and will use the proceeds from the auction to meet the bill. It is generally believed Margaret had a small fortune in the range of $2-3 million, invested in stocks and bonds.

Most of the jewelry being auctioned would likely have sat in a vault somewhere. It's unlikely Lady Serena or Lady Sarah need to wear valuable jewels or a large tiara appropriate for a Royal Highness.

[kelly9480]

Originally Posted by branchg

The Queen takes care of Viscount Linley and Lady Sarah. In addition, Princess Margaret had a small fortune of her own, including her home in Mustique, which Viscount Linley most likely inherited.

The Queen doesn't help them financially the way she helps her children. If she did, David wouldn't be constantly complaining of how broke he is, time and again, in his interviews. He has always said that he pays his own way, though EIIR's use of his company helped raise his profile.

[kelly9480]

Originally Posted by branchg

Viscount Linley owes inheritance tax on Margaret's estate and will use the proceeds from the auction to meet the bill. It is generally believed Margaret had a small fortune in the range of $2-3 million, invested in stocks and bonds.

Most of the jewelry being auctioned would likely have sat in a vault somewhere. It's unlikely Lady Serena or Lady Sarah need to wear valuable jewels or a large tiara appropriate for a Royal Highness.

According to BP, Margaret left around 7 million pounds, not including the things she had transferred over before her death to avoid death duties. Both children owe on the estate taxes, not just David, because they both inherited from her. Margaret's fortune was estimated by one biographer (who admitted he couldn't stand her, so take it was a heap of salt) at around 30 million pounds, if all her belongings were included, meaning the house, the jewels, the cars, etc.

[redfox6]

Originally Posted by kelly9480

According to BP, Margaret left around 7 million pounds, not including the things she had transferred over before her death to avoid death duties. Both children owe on the estate taxes, not just David, because they both inherited from her. Margaret's fortune was estimated by one biographer (who admitted he couldn't stand her, so take it was a heap of salt) at around 30 million pounds, if all her belongings were included, meaning the house, the jewels, the cars, etc.

It is a bit confusing reading the different estimates as to Princess Margaret's worth at death. $2-3 million dollars in not very much. A good investor, who worked at a decent job in the states would leave more than that. It seems to me it is probabaly between the 7million and the overstated 30 million pounds. It is sad that they have to sell off what should be a historical inheritance. The Queen Mother was able to tranfer, tax free, all of her valuables, in the Soverign to Soverign transfer and now the Queen is free to pass out the goodies to her children, without there being any tax. While Pricess Margaret's children are not so fortunate. Those with the most pay the least.

[Duchess]

Originally Posted by branchg

Well, certainly Diana and Sarah did not. It's not a usual requirement of marriage to a member of the royal family, but perhaps this will change in light of divorce becoming more common these days.

Also, most of the wealth in the royal family belongs to the Sovereign, followed by The Prince of Wales as they receive the income from the duchies of Lancaster and Cornwall. Everyone else is basically dependent on whatever money they may have inherited along the way, which usually is relatively modest.

William and Harry are very wealthy, but most of their inheritance came from The Queen's pocket when Diana received her divorce settlement.

so technically they're not really wealthy yet but will be when they come into their inheritance??

[Duchess]

the last will and testament of Diana. it's in 3 parts:

http://www.courttv.com/archive/legal...ana/part1.html

http://www.courttv.com/archive/legal...ana/part2.html

http://www.courttv.com/archive/legal.../appendix.html

[branchg]

Originally Posted by Duchess

so technically they're not really wealthy yet but will be when they come into their inheritance??

William and Harry are certainly very wealthy by most standards for young men their age. At this point, they are receiving a sizable income from their mother's trust, their great-grandmother's trust, plus whatever Harry may be receiving from his Spencer trust.

I don't think we have to worry too much.

[branchg]

I highly doubt Princess Margaret left a 30 million pound estate. She never was loaded because George VI, as is tradition, left the majority of his fortune to Elizabeth as the new Sovereign, with a sizable amount set aside for The Queen Mother's benefit.

In addition, it's been documented quite extensively over the years that The Queen privately financed many of Margaret's expensive indulgences, so I don't think there is a big amount of cash waiting for her children.

[branchg]

Originally Posted by kelly9480

The Queen doesn't help them financially the way she helps her children. If she did, David wouldn't be constantly complaining of how broke he is, time and again, in his interviews. He has always said that he pays his own way, though EIIR's use of his company helped raise his profile.

I doubt Viscount Linley is ready for the poverty line, no matter how much he complains about how broke he is. He also has his own business, which probably substantially strained his cash flow when sales are down.

His father doesn't come from a wealthy, landed family like the Spencers and he is a minor member of the royal family, so it's to be expected.

[dbarn67]

I remember reading that Viscount Linley wife Serena came from a very wealth family. Her father was as wealth business man like Kate Middleton's father.

[pinkylou]

i believe serena is an aristocrat like diana's family was, i've read somewhere her father was an earl or a baron, and yes i've heard that they were loaded

[kelly9480]

Serena's father is Viscount PEtersham, heir of the Earl of Harrington. The family owns the Stanhope estate in London and is worth 120 million pounds. Serena's brother is likely to inherit most of the estate, and she has a lot of aunts and uncles (somewhere around 7, IIRC) that will also inherit a chunk of the money, so it's hard to guess exactly how much will come her way.

[pinkylou]

she probably has a trust in her name, thats what alot of the aristocracy are doing at the mo, to ensure that everyone has a share. and i do believe that her father upon inheriting the earldom will also inherit most of the family fortunes and so his brothers and sisters would probably not recieve much.

[branchg]

Like the royal family, most of the landed peerage passes their wealth to the eldest son to preserve their legacy. Junior sons and daughters usually receive a lump sum bequest or income from a trust only.

[Claire]

I love statistics and I wanted to see just how much the royals are payed per hour. This of course brings up some problems as we don't actually know how much Prince Charles and the Queen put aside for the running of their offices. So I have taken the rounded off figure of 400 000 pounds (which is slightly more than the Duke of Edinburgh's) For William and Harry's I've had to be more creative - since their are various reports about how much pocket money Daddy gives them to fly to South Africa and throw drunking parties. So I've taken the amount of 250 000 pounds which is where Prince Andrew's pay stood at their age.

So lets look at this:
The Duke of Edinburgh (and his office) spend roughtly 884.24 pounds per engagements
The Princess Royal- 396 pounds.
The Duke of York - 558.30 per engagement
The Earl of Wessex - 317.32 per engagement.
The Countess of Wessex is free - the Queen doesn't know pay her any money, all the money goes to Edward. So either she is in need of a trade union or Edward's allowance is for both of them than the Wessex's together - 251.92 pounds for one engagement.
The Duke of Kent - 1030.56 pounds
The Duke and Duchess of Glouchester - 479.45 pounds
Princess Alexander - 1800 pound
Prince Charles - 800 pounds for 500 engagements
Prince William - 19230.76 pounds for engagement
Prince Harry - 41666.66 pounds for engagement.

Of course we don't know exactly how many hours are actually spend at their functions. Its strange that what it actually comes down to measuring someones worth. So in a nut shell - Prince Harry is the most expensive royal. I don't actually know how much he gets from Charles but I resume it is more than more estimate anyway. Its sad that Andrew or Edward probably did more engagements in a month when they were younger than William and Harry did in a year. And they are lesser royals. By far the Countess of Wessex is the cheapest royal and if this was rent of royal, she is the one you'll do with. Second is Edward - so jointly they win hands down. Odd that they are still considered the lazy greed hangon through.
And I don't know exactly what to do with Camilla?

[yvr girl]

Why does the Earl of Wessex receive so much less than everyone else? Why do the Gloucesters receive so much less than the Kents?

Parliamentary annuity (not repaid by The Queen)

HRH The Duke of Edinburgh £359,000

Parliamentary annuities (repaid by The Queen)

HRH The Duke of York £249,000

HRH The Earl of Wessex £141,000

HRH The Princess Royal £228,000
TRH The Duke and Duchess of Gloucester £175,000
TRH The Duke and Duchess of Kent £236,000
HRH Princess Alexandra £225,000

[Elspeth]

I think the Queen is repaying their expenses these days, so I assume the amounts of money reflect what's being spent on their official duties.