How Will Prince Philip’s 10 Million Inheritance Be Distributed?
How Will Prince Philip’s 10 Million Inheritance Be Distributed?
How Will Prince Philip’s 10 Million Inheritance Be Distributed?
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How will Prince Philip's 10 million inheritance be distributed?

By David STEIN

Prince Philip leaves a fortune estimated at 10 million pounds. While still mourning, the question remains as to how this inheritance will be split.

Altogether, the fortunes of each member of the Windsor clan scrape the skies. When it comes specifically to the resources of Prince Philip, who died this Friday 9 April at the age of 99, it is estimated that the total amount stacks up to 10 million pounds.

As the royal family have gathered urgently at Buckingham Palace to organize the funeral of the Duke of Edinburgh who died just a few weeks before his birthday, the first questions arose regarding his inheritance. Who would end up getting this money?

According to most royal experts, that would simply be Elizabeth II, as revealed by inews on Sunday 11 April . A choice justified by the economic advantage that it implies, because the monarch would thus avoid paying inheritance taxes.

In fact, married couples are permitted to directly transfer their assets to their spouse to avoid a tax of 40%, applied beyond a threshold established at 325,000 pounds. With regard to the royal family, a clause would also make it possible to cede from 'sovereign to sovereign,' or from a sovereign's spouse to a monarch during his reign. The queen could very well give her own fortune to Prince Charles on her death, without paying any taxes.

A collection of paintings and 3000 books

This clause, adopted by Prime Minister John Major in 1993, had been used by the Queen Mother, who died in 2002, when she bequeathed her fortune of 70 million pounds to Elizabeth II, as well as a substantial collection of Fabergé Eggs. One must admit that the Windsor clan is safe from want and has an impressive heritage.

According to David McClure, author of the Queen's financial book, The Queen's True Worth,

Prince Philip had a large collection of Aboriginal art paintings and a significant collection of paintings by Edward Seago, who taught him to paint. He also had a collection of around 3000 books, especially about nature.

Enough possessions that are liable to have you reaching for smelling salts.

Before looking into the accounts of her late husband, Elizabeth II must first say goodbye to the man she was married to for 74 years. A small and particularly awaited funeral because of Prince Harry's return, a year after leaving the United Kingdom.

What is known of the funeral

Pandemic obliges, the funeral of Prince Philip will take place in special circumstances: only 30 guests will be present, among the children of Kate Middleton and Prince William which will not appear. The Duke of Edinburgh's remains will be placed in an oak coffin, lined with lead, and transported in a Range Rover that the Prince Consort had helped to develop.

Another detail to highlight: Prince Philip will rest from Saturday on in the royal vault, there to await his beloved wife until the day they can be buried together.

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