When Queen Elizabeth II died, she left behind a fortune totaling about $447 million. Her estate will be divided among her royal Windsor family members.
Her collection includes extravagant clothing and jewelry, including tiaras, and brooches. Who will inherit this collection?
The royal family started the jewelry collection in the 1800s, during Queen Victoria’s reign. Queen Elizabeth II inherited several pieces from her grandmother, Queen Mary, who acquired extravagant pieces during her world travels, and through connections with jewelers and other political and royal leaders around the world.
A few of the precious pieces were seen worn by Kate Middleton and Meghan Markle at their weddings. Kate wore the 100-diamond Cartier, and Meghan wore the Diamond Bandeau.
Some of the most historical pieces owned by the Queen are displayed in the Crown Jewels collection at the Tower or London, and will remain there (unless, of course, someone grabs them).
The Queen’s will is private, but some royal experts say that most of the items from her private collection will probably go to Kate Middleton and King Charles’ wife, Queen Consort, Camilla. The items are gifts passed down to the Queen, and items that she personally purchased.
Royal expert Katie Nicholl said, “There is a hierarchy in all of this. The Queen Consort, really, gets first choice of the Queen’s jewelry. And after that is Princess of Wales, of course, Kate. The Duchess of Sussex [Meghan], I’m sure, will come in for some jewelry at some point, but she is much further down the pecking order.”
Kate Middleton, now the Princess of Wales and designated as the future queen, will probably receive most of the Queen’s pieces, but Camilla will probably get to pick what she likes first.
The Queen’s lucky granddaughters will also inherit some of her belongings.
Inheriting the items will cost recipients a hefty price. Inherited items from the Queen’s collection are subject to a 40% inheritance tax. King Charles III is exempted from the tax, but everyone else is required to pay.
The deceased Queen’s estate also contains an estimated one million treasured artworks, some of which date back as far as the reign of Henry VIII.