William and Harry's Inheritance


If you have answers, please help by responding to the unanswered posts.
cowarth said:
How much is given to charity?


I don't know. It really doesn't matter though, since the amount of money shouldn't be the focus.
 
What I meant to ask was: How many charities do the princes support?
 
cowarth said:
What I meant to ask was: How many charities do the princes support?


I don't think that sort of information is revealed in the sense of exactly to which charities they make personal donations nor how much. Occassionally a charity will indicate that it received a donation from a royal but that is rare from my experience.

Just because they are the patron etc of a charity doesn't actually mean that they give any money to said charity. That said, I am not suggesting that they don't give money to charity either. I simply don't know and am simply guessing.
 
The prince turns 25 on Tuesday September 15. Although he will inherit the multi-million pound fortune, he, like his brother William, 27, will be prevented from spending the money until they turn 30.

Prince Harry to inherit share of Diana's fortune - Telegraph

PRINCE Harry will become a multi-millionaire next Tuesday when he turns 25.

The birthday means Harry inherits his share of Princess Diana's fortune, estimated at £9million.


http://www.thesun.co.uk/sol/homepage/news/royals/2628006/Diana-9m-as-Prince-Harry-hits-25.html
 
I find this whole inheritance thing confusing. I mean they inherit this money but they don't really have access to it?
 
:previous:

The moment Harry turns 25, he will inherit the money left to him by his mother. However he will have access only to interests (more than £300,000 a year) until he is 30, after which he will have full access to his inheritance. This means that while Harry can spend only the interests, he can make provisions concerning the future of the money (for example, write a will and designate who would receive his fortune should something happen to him).
I would imagine the will also includes special clauses which could, in theory, give him access to the main sum before his 30th birthday, such as unforeseen situations or urgent / vital circumstances: although this would be a more or less standard thing to do, we cannot be certain Diana’s will includes any such clause.

Diana’s will follows the usual pattern in cases like this: it makes sure that the beneficiary has sufficient funds to maintain a comfortable lifestyle (from interests), while at the same time guarantees the inheritance will not be wasted away by hot-headed youths before they are really in need of it.

Both William and Harry’s money had been invested, so I think Harry is set to inherit considerably more than £6.5 million.


Please, note that the conditions I’ve written about are the common practice: Diana’s testament might have contained special clauses and conditions we know nothing about.
 
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:previous:

The moment Harry turns 25, he will inherit the money left to him by his mother. However he will have access only to interests (more than £300,000 a year) until he is 30, after which he will have full access to his inheritance. This means that while Harry can spend only the interests, he can make provisions concerning the future of the money (for example, write a will and designate who would receive his fortune should something happen to him).
I would imagine the will also includes special clauses which could, in theory, give him access to the main sum before his 30th birthday, such as unforeseen situations or urgent / vital circumstances: although this would be a more or less standard thing to do, we cannot be certain Diana’s will includes any such clause.

Diana’s will follows the usual pattern in cases like this: it makes sure that the beneficiary has sufficient funds to maintain a comfortable lifestyle (from interests), while at the same time guarantees the inheritance will not be wasted away by hot-headed youths before they are really in need of it.

Both William and Harry’s money had been invested, so I think Harry is set to inherit considerably more than £6.5 million.


Please, note that the conditions I’ve written about are the common practice: Diana’s testament might have contained special clauses and conditions we know nothing about.


Diana's will is available for anyone to read as it was made public years ago

Last Will and Testament of Princess Diana

There are many other sites where her will is published.
 
:previous:

The will doesn’t give any details apart from provisions about the investments and the 25 years old threshold.
As far as I know, the conditions were given separately, however I apologize if I am wrong
 
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The princes may have lost some money in the recent stock market crashes or the decrease in value in other investments. And didn't Harry inherit quite a bit of money from the Queen Mother? I think she was rather concerned about the well-being of Andrew, Edward and Harry.
 
:previous:

The will doesn’t give any details apart from provisions about the investments and the 25 years old threshold.
As far as I know, the conditions were given separately, however I apologize if I am wrong



I believe that I read somewhere that it is the executors who made those decisions about the ages etc.
 
Iluvbertie said:
I believe that I read somewhere that it is the executors who made those decisions about the ages etc.

Giving the executers the right to decide when William and Harry get access to the main sum would be a rather unusual decision, although technically possible.
It is, however, more common to make stipulations about matters like that in the will (or additions to it), to avoid future misunderstandings and confrontations.
The conditions I described in my post are pretty standard for the kind of wills when the beneficiary does not immediately get the right of access to main assets and has to wait till certain age (sometimes, in case of females, till marriage).

By the way, thank you for posting the will: I had quite forgotten its content and clauses. :)


iowabelle said:
The princes may have lost some money in the recent stock market crashes or the decrease in value in other investments. And didn't Harry inherit quite a bit of money from the Queen Mother? I think she was rather concerned about the well-being of Andrew, Edward and Harry.

Investments added up to the main sum (£6.5 million) since 1997: however much the recent crisis affected the Royal finances, it would be quite extraordinary if Harry gets anything less £6.5 million. Besides, I doubt the money would have been invested in anything remotely risky.

In 1994, the Queen Mother set £14 million trust fund for William and Harry. The conditions of the trust fund stipulated that William and Harry were to get their share of £6 million upon their 21st birthdays (which they did in 2003 and 2005 respectively), with the remaining £8 million to be divided upon their 40th birthdays.
Harry gets the bulk of £14 millions, presumably because William will be more than sufficiently provided as the future Duke of Cornwall and later, King, whereas Harry will have no other means of support (apart from what his grandmother and father leave to him, that is).
 
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You mean they already received 3 million pounds each when they turned 21? I thought all this time their father supported them.
 
:previous:

The £6 million was not shared equally: Harry got the greater part of it as per the Queen Mother's will.

I'd assume Prince Charles still does support them and will continue covering their expenses at least until they are married. The money both the Queen Mother and Princess Diana left (and what will be left by the Queen, Prince Charles and possibly, Prince Philip) are more for future than for present: after all, Harry’s children are going to provide for themselves, and so will William’s younger children.
 
I see, thanks Marsel.
That's true about both Prince's children. It would be nice if they had an inheritance so they wouldn't have the controversy of having to work and possibly being accused of using their royal status to make money like some of the current royals do.
 
Giving the executers the right to decide when William and Harry get access to the main sum would be a rather unusual decision, although technically possible.
It is, however, more common to make stipulations about matters like that in the will (or additions to it), to avoid future misunderstandings and confrontations.
The conditions I described in my post are pretty standard for the kind of wills when the beneficiary does not immediately get the right of access to main assets and has to wait till certain age (sometimes, in case of females, till marriage).


I am sure that is why I remember reading it.

The executors had to get permission to put the stipulations on the when and how the princes were to get the money and I seem to remember that there was a change at some point as well.

It was in the papers when things happened.
 
I hope that Brits stop accusing PH and rest about spending tax money now. Harry isn't poor, has own money and don't need wasting sb's else money. Not every drink he drunk was from Brits wallets.
 
:previous: In point of fact, none of the drinks were paid for by the British taxpayers. Whilst he has inherited from his Grandmother and mother, Charles has supported himself and his family with his income from the Duchy of Cornwall, etc.
 
I hope that Brits stop accusing PH and rest about spending tax money now. Harry isn't poor, has own money and don't need wasting sb's else money. Not every drink he drunk was from Brits wallets.
I don't think many people have ever thought the taxpayer pays for his drinks. What they seem to object to is the impression it gives of a decadent young man.
 
I dont know if I'd describe H as decadent. He has gainful emloyment in the Army. I would think that many young people in the armed forces go out on their nights off.
 
:previous: I'm not sure that many of them pay £2000+ each time.
 
Thanks for the information Marsel. I understand now they only have access to the interest that's generated until they reach 30.
I think it was wise of them to spread it out instead of giving it all to them at such a young age. Let's face it a 21 year old is more likely to spend it unwisely than say a 30 year old who's thinking more of the future than just the here and now.
 
I'm glad that provisions have been made for Harry. We all know that it's been difficult for Andrew and Edward (and even Viscount Linley) to set up careers for themselves that allow them to make enough money to live in the style to which they are accustomed. And Harry won't make a fortune on his own if he pursues a real career in the military.
 
I'm surprised that Diana's will was released to the public. I thought the royal family didn't publicize private wills.
 
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You are most welcome, rchat and cd255. :)

I am sure that is why I remember reading it.

The executors had to get permission to put the stipulations on the when and how the princes were to get the money and I seem to remember that there was a change at some point as well.

It was in the papers when things happened.

You are correct; executors did make some chances to the conditions of Diana's will.
Initially, Diana's will (as seen in the link you posted) was straightforward: she simply left everything, apart from few personal bequests, to William and Harry, who were to gain full access to the estate on their 25th birthdays. However, after her death, the executors requested and were granted the right to make changes (in December 1997), on the grounds the changes were in the infant beneficiaries' interests. That's when it was ruled that William and Harry will start receiving only interests on their 25th birthdays, with the right of full access to the estate on their 30th birthday.


Incidentally, William and Harry are to inherit not only the money Diana got from her divorce settlement, but also the money left to Diana by Baroness Fermoy and Lord Spencer (which would amount to another £6-8 million). Which rather means that upon their 30th birthday, William and Harry will inherit around £11-12 million each from their mother's will-only.
Add the money left to them in the Queen Mother's trust funds (£14 million) and the trust fund the Earl Spencer (Diana's father) set up for Harry (but not William), which Harry will gain access to upon his 30th birthday (apparently, worth some £3 million): it does look like both William and Harry are quite well-provided for their future.

And that's of course without the inheritance they will receive from the Queen, Prince Charles and, probably, Prince Philip (although I would imagine the Queen and Prince Philip at least will be more concerned for the well-being of their other children and grandchildren, as William and Harry will inherit a rather impressive fortune from their father).
 
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They have protection officers no matter where they go. The public criticizes the RF no matter what, but maybe we're off-topic. :rolleyes:

I'm surprised that Diana's will was released to the public. I thought the royal family didn't publicize private wills.


Diana was a different category when she died and her will and other matters were also different.

Some things simply didn't apply to her after her divorce.

She was regarded as a member of the RF at times due to being William's mother but not at other times or for other purposes as she was divorced from Charles.
 
Marsel you are a bucket of information!

What are your sources for the money from Lady Fermoy and the Earl of Spencer. And when you say Lord Spencer, who are you referring to? Are you talking about Dianas Spencer grandfather?

I would also imagine that Frances Shand Kydd had some money as well.

In regards to the publication of Diana's will, does it matter that she was or not a member of the Royal Family? Are all British wills available to the public? Not sure if that is the case in the States.
 
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Thank you, Zonk. :flowers:

As a teenager, Diana received an inheritance from her great-grandmother, Frances Ellen Work, Baroness Fermoy (not Lady Fermoy - I have corrected the wrong title in my post: Frances Work was Diana's American heiress great-grandmother): the inheritance included £100,000 in cash (part of which was used to buy her a flat in London upon her 18th birthday) and a trust fund, which was presumably worth about than £2-3 million at the time of Diana death, although its worth has probably increased over the last 12 years
Note: at the time Diana received the inheritance, the fund was of course worth considerably less - as one of Frances Work's youngest female great-grandchildren, Diana got one of the smallest shares, however Diana didn't really spend much of the money before her engagement and certainly very little after it.

John Spencer had set trust funds for all his grandchildren (born at the time of his death), with the (possible) exception of Prince William.

I'm not sure about Frances Shand Kydd's money or what she chose to do with them.


My sources can probably be described as ‘general knowledge’ about the issue in question. I am 100% certain of the information concerning Harry's trust fund set by Earl Spencer, and almost certain concerning the money Frances Work left to Diana. Nevertheless, I'll find credible sources to back the claims. :)


In regards to the publication of Diana's will, does it matter that she was or not a member of the Royal Family? Are all British wills available to the public? Not sure if that is the case in the States.
All British wills are available to public. The only exceptions are the wills of members of the Royal Family whose wills are private (although that can change soon). Royal wills have been sealed since Queen Mary (of Teck) requested the courts not to disclose the contents of her brother’s will, who had left the family’s Cambridge emeralds to his mistress, Lady Kilmorey (Mary later purchased the emeralds from Lady Kilmorey many times the price of their actual value).
As Diana was no longer a de facto member of the Royal Family after her divorce, her will was to be made public.
I suppose if the Royal Family really wanted to keep the will private, they could have achieved it, however there didn't seem to be any need for it.
 
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William and Harry also have trust funds set up for them at birth by HM the Queen Mother and HM the Queen. Their Majesties set up funds for all their children, grandchildren, and great-granchildren (in the Queen Mum's case.)

William's trust funds will not be as large as Harry's or the other grandchildren since he is the heir to the throne. Even Diana gave Harry more of her money than William, knowing that he would be King.
How do you know this? Have you been reading another newspaper or just her will?
 
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