Finances of the Young Royals

[JR76]

Originally Posted by Kitty1224

Why did Carl Philip give it to his sister?
Just saying they aren't lacking in anything.

The Galliera foundation and the other Royal foundations are what makes up the core of the family's fortune and without it the Royal palaces would be empty of everything that's not state property. As it was always intended to follow the monarch the King decided to change the statutes of the foundations to let them continue to do so.
According to the rules regarding the former entails of Sweden (the so called foundations are in reality entails) the other heirs must give their permission to let them continue.
Although the entails were abolished in the 1960s the Royal entails were not.
Another aspect of the importance of letting them follow the monarch is as stated above - only Royal entails remain and as Carl-Philip and his line becomes further removed from the throne there's a very big risk for the heirs to apply to have the entails abolished and sell off one of the largest private collections in Europe, if not the world.
The jewellery collection alone has few rivals neither in size nor in age.

[Mbruno]

Originally Posted by JR76

The Galliera foundation and the other Royal foundations are what makes up the core of the family's fortune and without it the Royal palaces would be empty of everything that's not state property. As it was always intended to follow the monarch the King decided to change the statutes of the foundations to let them continue to do so.
According to the rules regarding the former entails of Sweden (the so called foundations are in reality entails) the other heirs must give their permission to let them continue.
Although the entails were abolished in the 1960s the Royal entails were not.
Another aspect of the importance of letting them follow the monarch is as stated above - only Royal entails remain and as Carl-Philip and his line becomes further removed from the throne there's a very big risk for the heirs to apply to have the entails abolished and sell off one of the largest private collections in Europe, if not the world.
The jewellery collection alone has few rivals neither in size nor in age.

Isn't the jewelry collection part of the Bernadotte Family Foundation ? I didn't know that foundation was an entail.

[Kitty1224]

Originally Posted by JR76

The Galliera foundation and the other Royal foundations are what makes up the core of the family's fortune and without it the Royal palaces would be empty of everything that's not state property. As it was always intended to follow the monarch the King decided to change the statutes of the foundations to let them continue to do so.
According to the rules regarding the former entails of Sweden (the so called foundations are in reality entails) the other heirs must give their permission to let them continue.
Although the entails were abolished in the 1960s the Royal entails were not.
Another aspect of the importance of letting them follow the monarch is as stated above - only Royal entails remain and as Carl-Philip and his line becomes further removed from the throne there's a very big risk for the heirs to apply to have the entails abolished and sell off one of the largest private collections in Europe, if not the world.
The jewellery collection alone has few rivals neither in size nor in age.

So its not in Carl's property any longer? But can he still oversee it?

[Countessmeout]

Why would he over see it? It would be like Charles inheriting the royal collection in the UK, but Andrew being the one with the power to over see it.

It makes sense that they had him sign over it. The galliera was always intended to remain with the throne. It supplies the art work, furniture and such for the royal houses. Unfortunately when it was established, like the monarchy, it followed male primogeniture. Having CP sign it over, well when the king dies it will pass over CP to Victoria, allows this to continue. It will ensure Victoria, Estelle and any other monarchs after them, have control over these properties. The last thing needed is for a grandson or such of CP deciding he needs money, like the Lindleys, and selling off the furnishings of the palace in Stockholm and leaving the monarch with an empty palace.

CP was left his Uncle Bertil's estate, as well as other investments, so it isn't like he has been left bereft.


The Bernadotte foundation, which includes the tiaras and main jewels, is another matter. The foundation was established like in the UK, to keep certain pieces with the crown, and preserve them in the line. The main tiaras and jewels will pass naturally to Victoria and down.

[Kitty1224]

Originally Posted by Countessmeout

Why would he over see it? It would be like Charles inheriting the royal collection in the UK, but Andrew being the one with the power to over see it.

It makes sense that they had him sign over it. The galliera was always intended to remain with the throne. It supplies the art work, furniture and such for the royal houses. Unfortunately when it was established, like the monarchy, it followed male primogeniture. Having CP sign it over, well when the king dies it will pass over CP to Victoria, allows this to continue. It will ensure Victoria, Estelle and any other monarchs after them, have control over these properties. The last thing needed is for a grandson or such of CP deciding he needs money, like the Lindleys, and selling off the furnishings of the palace in Stockholm and leaving the monarch with an empty palace.

CP was left his Uncle Bertil's estate, as well as other investments, so it isn't like he has been left bereft.


The Bernadotte foundation, which includes the tiaras and main jewels, is another matter. The foundation was established like in the UK, to keep certain pieces with the crown, and preserve them in the line. The main tiaras and jewels will pass naturally to Victoria and down.

Then why give it to him the first place and not Victoria?

[LadyFinn]

Originally Posted by Kitty1224

Then why give it to him the first place and not Victoria?

King Carl Gustaf didn't give it to Carl Philip.
Good info here:
Trond Norén Isaksen_ Prince Carl Philip renounces Galliera inheritance

[Duc_et_Pair]

It was a wise decision and generous by Prince Carl Philip to agree with the change. He could have been a man in big bonus with the Galliera Foundation but understood the importance of this for the monarchy. Of course it helps that he is not too pauvre either but it remains generous and showed responsibility for the continuation of the proper workings of the monarchy.

[JR76]

You're all right - the foundations were founded as entails but changed into foundations by Oscar II.
That'll teach me not to post in the middle of the night after a bottle of wine...

[Denville]

Originally Posted by Kitty1224

I think they are set for life. They have trust funds worth millions.

Who has trust funds? Can you quote any information to back this up?

[Duc_et_Pair]

These are the foundations and trust funds of the Orange-Nassaus. Also the De Bourbon de Parmes (children of Princess Irene) and the Guillermos (children of Princess Christina) have trust funds administered at Noordeinde Palace: the Lys Fund resp. the Daffodil Trust. The children of Princess Margriet possibly use an external properties management agency.

The junior daughters of Queen Juliana have the Fund Functional Costs House of Orange-Nassau I.

The junior sons of Queen Beatrix have the Fund Functional Costs House of Orange-Nassau II.

We may assume King Willem-Alexander will establish a Fund Functional Costs House of Orange-Nassau III for his junior daughters.

https://www.rijksoverheid.nl/documen...oninklijk-huis

[Tatiana Maria]

Originally Posted by JR76

You're all right - the foundations were founded as entails but changed into foundations by Oscar II.
That'll teach me not to post in the middle of the night after a bottle of wine...

What is the difference (in Sweden) betwen an entail and a foundation?

[LadyFinn]

Victoria, Carl Philip and Madeleine inherited 5 million SEK each from prince Bertil. And they inherited about 10 million SEK each from princess Lilian.

[tommy100]

Its been widely reported The Queen Mother placed a large amount of her wealth in a Trust Fund for some of her grandchildren and great-grandchildren in 1994. Some say as much as £19million was placed in trust for them. At the time it was said the trust Fund was for William, Harry, Zara, Peter, Beatrice, Eugenie, Viscount Linley and Lady Sarah Chatto.

https://www.theguardian.com/uk/2002/...ther.monarchy2
http://www.dailymail.co.uk/femail/ar...dent-digs.html


Of course none of us know if it is true but I suspect the Queen Mother will have placed some money in trust for her great grandchildren. Its also been said Princess Anne had a trust fund set up by her grandfather.

[JR76]

Originally Posted by Tatiana Maria

What is the difference (in Sweden) betwen an entail and a foundation?

An entail passes from one owner to the next accord to rules set down by the founder. The owner can dispose of an eventual income from the entail how they like but can't dispose off the property itself. Though it was possible to get permission to sell off property and place the capital in funds to be inherited according to the same rules. There was also the possibility to move the entail from one landed estate to another.

[Denville]

Originally Posted by JR76

An entail passes from one owner to the next accord to rules set down by the founder. The owner can dispose of an eventual income from the entail how they like but can't dispose off the property itself. Though it was possible to get permission to sell off property and place the capital in funds to be inherited according to the same rules. There was also the possibility to move the entail from one landed estate to another.

Yes it is to protect a property from heirs that mght sell it off or lose it. If someone inherits property that is entailed they only have a life interest in it. I take it that a foundation is more flexible....