William and Harry's Inheritance

[Sister Morphine]

Originally Posted by cowarth

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.

[cowarth]

What I meant to ask was: How many charities do the princes support?

[Iluvbertie]

Originally Posted by cowarth

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.

[Warren]

Cowarth, it may help you with some of your many short questions to have a look at the official websites before posting:

The British Monarchy Website
The Prince of Wales Website

and, always useful: Google

[Skydragon]

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...y-hits-25.html

[Sereta]

I find this whole inheritance thing confusing. I mean they inherit this money but they don't really have access to it?

[Marsel]

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.

[Iluvbertie]

Originally Posted by Marsel

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.

[Marsel]

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

[iowabelle]

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.

[Royal Fan]

I Head he got next to nothing.

[Iluvbertie]

Originally Posted by Marsel

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.

[Marsel]

Originally Posted by Iluvbertie

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.

Originally Posted by iowabelle

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).

[Opal]

You mean they already received 3 million pounds each when they turned 21? I thought all this time their father supported them.

[Marsel]

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.

[Opal]

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.

[Iluvbertie]

Originally Posted by Marsel

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.

[grace marie]

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.

[MARG]

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.

[Skydragon]

Originally Posted by grace marie

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.