 "'Deserves a one-bedroom flat...': TalkTV broadcaster on Prince Andrew's reaction to being left out of royal will")
It is known to the world that following Queen Elizabeth II’s death last year, her eldest son, the now-King Charles III, has inherited all of her fortune including the throne. While the value of King Charles’ inheritance from his mother is still unclear, he is no doubt the sole beneficiary of her wealth which includes her £650 million royal estate, the Duchy of Lancaster. With King Charles becoming the direct inheritor of the Queen’s fortune, it reportedly sparked some “resentment” among his younger siblings including the Duke of York, Princess Royal, and the Duke of Edinburgh. As per media reports, Prince Andrew in particular is said to be in a state of “despair” over not receiving any share of his late mother’s fortune.
As per a Daily Mail report, Prince Andrew has expressed his discontent that his older brother has kept all of the new wealth with himself and not shared it with his siblings.
While deliberating over the latest issue in the Royal family , TalkTV contributor Esther Krakue while taking a jibe at Prince Andrew quipped that he deserves a ‘one-bedroom flat’. As Sky New Australia host Piers Morgan spoke to the panel about the late Queen’s inheritance, he joked about Prince Andrew “expecting a large cheque from the family as he inherits following the Queen’s death.” In response to this, Krakue sarcastically said, “My heart weeps that he isn’t getting his share from the 650 million pound fortune. This strengthens my case that he should be given a one-bedroom flat in Stevenage instead of the Frogmore cottage.” Why is King Charles III the sole heir of the Queen’s wealth? According to a deal negotiated in 1993, a memorandum was passed which effectively exempted the monarch from paying any inheritance tax on the transfer of assets from one sovereign to another, which means the King/Queen will not require to pay the 40 per cent inheritance tax and the estate is left in its entirety to the new monarch, instead of being divided among the family members. This explains the reason behind King Charles III being the sole heir of his mother’s fortune. However, it seems the King is in no mood to share his inheritance with his siblings.
While Anne and Edward, who are working royals can still rely on handouts from the Sovereign Grant, Andrew who stepped down from the position in 2019 can now only rely on the King’s generosity.
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