In our last blog we discussed the range of priceless items comprising the Queens estate. However, what we did not delve into is the fact that the Queen had a Will in place. Her Majesty’s Will is separated into her personal belongings and the Crowns estate. The Queens personal estate is distributable by her Will and is estimated to be worth over £360 million. Whereas, the crowns estate is inherited by our new British monarch, King Charles III.
Queen Elizabeth II inherited an assortment of valuable items from her royal predecessors. This included jewels, land deeds, castles and money adding to her substantial wealth. Properties Her Majesty inherited include, her favourite home Balmoral Castle and Sandringham Castle where Royal Family members gathered for Christmas. It is unknown who is set to inherit these properties, but it is estimated that the Queens youngest children, Princess Anne, Prince Andrew or Prince Edward will benefit.
There were rumors that the Queen made some final amendments to her Will. This involved ensuring items were inherited by new parties and leaving other family members out entirely. Reports suggest that Kate Middleton will inherit an assortment of the Queens jewellery as she will be a future Queen consort Herself. Princess Charlotte, The Queens great granddaughter is also in consideration to inherit around 300 jewels valued at almost £100 million.
However, the new arrangements also state that her grandson, Prince Harry, Meghan Markle and their children are to inherit none of the Queens jewellry. This is likely due to the fact they quit their royal duties and said items are reserved for such events.
Unlike the Queens personal estate, the next ruling Monarch inherits the wealth of the Crowns estate, regardless of what is in the Queens Will. In this case the thrones successor is Prince Charles III (now King), son of Queen Elizabeth II and Prince Philip. King Charles III will now inherit the Crown Estate, a collection of properties and lands that are located across the United Kingdom. This is comprised of Buckingham Palace, the Duchy of Cornwall, Kensington Palace, and the estate of the Crown of Scotland.
Moreover, King Charles III will inherit the Sovereign Grant, the reigning Monarchs salary for their work as King or Queen. This is estimated to be approximately £85 million. The King will also be the owner of all the swans, whales and dolphins in the UK as they are considered property of the crown.
The Queens Will is under a lot of speculation and there is no way of knowing what items each member of the Royal Family are going to inherit. Most Wills are public in the UK, however, exceptions are made for certain people, including the Royal Family. 90 years must pass for Prince Philip’s Will to be released. This is a historical precedent, since Queen Mary requested the Will of royalty to be private. A similar case is expected with Queens Elizabeth II’s Will, so many of us will not live to know.