Details of the Inheritance
Prince Harry is due to receive an £8million gift from the Queen Mother as he celebrates his 40th birthday on September 15. The late Queen Elizabeth began setting aside a trust fund for the Duke of Sussex when he was just 10 years old, with a total of £19million being allocated in 1994 for her great-grandchildren.
Significance of the Trust Fund
The trust fund set up by the Queen Mother was designed to provide a tax-efficient way of passing down a portion of her estate to her descendants. Inheritance payments were divided into two installments, with one received at the age of 21 and the other at the age of 40.
Comparison with Other Royal Family Members
Palace insiders speculate that Prince Harry may inherit a larger sum compared to his brother, Prince William, due to the assumption that William would receive a significant fortune from the Duchy of Cornwall as the future heir. Other members of the royal family believed to benefit from the Queen Mother's trust fund include Princess Anne's children, Princess Beatrice and Eugenie, as well as Princess Margaret's children.
Legacy of the Queen Mother
Following the Queen Mother's passing in 2002, her estate was bequeathed to The Queen, with important artworks and possessions transferred to the Royal Collection. The details of her will were kept confidential, adding to the mystery surrounding her generous gifts.
Prince Harry's Current Endeavors
Despite reports of Prince Harry feeling "angry" and longing to return to the UK, he and his wife Meghan have been focusing on their new projects in the US. The couple recently launched The Parents Network to support families affected by online harm and abuse, while Meghan continues to develop her lifestyle brand, American Riviera Orchard.
