Because of an agreement signed in the UK in 1993, all of Queen Elizabeth II’s wealth will go to King Charles III without any tax consequences. The value of the late queen’s estate is estimated to be over $700 million.
Since this was the least tax option, the late queen’s wealth went straight to the king. None of Charles’ siblings were designated as beneficiaries.
To avoid the crushing inheritance tax, Prince Andrew should never have expected to inherit any of his mother’s wealth, say experts.
Queen Elizabeth II also inherited the entire estate of her mother, when the Queen Mother passed away
As working royals, Charles’ siblings, Princess Anne and Prince Edward, receive a substantial stipend from the sovereign grant. His brother Prince Andrew, however, resigned from his position as a royal four years ago in the aftermath of the Jeffrey Epstein scandal.
A close friend of Prince Andrew told the “Daily Mail” that he was in despair and had no idea that King Charles would inherit everything.
However, a palace insider told the media outlet that the prince had not been singled out for unfair treatment and that the late queen had always loved and cared for her children.
It looks like Prince Andrew will have to make some changes to his lifestyle.
An insider at the palace claims that the late queen suggested Andrew move to Frogmore cottage so that William and Kate and their three children could move into Andrew’s residence, Royal Lodge. Although the Queen gifted Frogmore to Prince Harry and Meghan Markle for their wedding, the couple has since been forced to leave.
After Andrew’s annual allowance of $300,000 is halved in April, it will become increasingly difficult for him to manage the vast estate. According to sources, Andrew is unwilling to leave the 98-acre Royal Lodge property.
After Andrew was accused of sexual assault of a minor, Queen Elizabeth took away his honorary military titles, revoked his royal patronages, and forbade him to use his royal title.