Jessica Luna
Sep 12, 2022
Estate Of The Queen
The newly appointed King Charles is set to receive a massive inheritance following his mother’s death. However, it may not be as large as some people may think.
Her Majesty leaves behind over $500 million in personal assets to King Charles, however, there is much overlap between her personal assets and what belongs to the Royal Firm. The Queen received income from the taxpayers known as the Sovereign Grant, which originates from an agreement made by King George III to surrender his income from parliament in exchange for a fixed annual payment for the royal family. This covers expenses like official travel, property maintenance, and operating costs of Buckingham Palace.
The Firm also holds nearly $28 billion in real estate assets which cannot be sold. This includes The Crown Estate, Buckingham Palace, The Duchy of Cornwall, the Duchy of Lancaster, Kensington Palace, and the Crown Estate of Scotland.
The Queen’s personal assets include her art collection, jewelry, and real estate holdings like Sandringham House and Balmoral Castle. These personal assets will be passed down to King Charles.
See Original Article Here: https://lawprofessors.typepad.com/trusts_estates_prof/