Prince Harry's 'plans' for jaw-dropping inheritance revealed after it lands on birthday
Prince Harry has reportedly made a decision over the £7m inheritance from his great-grandmother.
The late Queen Mother is understood to have placed £19 million into a trust fund for the Royal Family prior to her passing in 2002. A portion of this fund was designated for Harry, with the remainder allocated for his elder brother, Prince William.
The brothers are believed to have received their shares upon reaching the age of 40, with Harry celebrating this milestone on Sunday. Due to the financial arrangements within the Royal Family, it's estimated that Harry's share was larger, ranging between £7 million and £8 million.
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The discrepancy arises because William, as the future monarch, will gain significantly from the Duchy of Cornwall, an estate that finances the public, charitable, and private endeavours of the heir apparent.
A source from Woman's Day revealed that Harry intends to save the money bequeathed by his great-grandmother for the welfare of his children, Archie, aged five, and Lili, aged three.
"He wants to put the inheritance away for their future, especially for Archie [five] and Lili [three]," they said.
Harry, who has two children with his wife Meghan Markle, has previously expressed his joy in fatherhood, calling Archie and Lilibet the "best gift" he's ever had.
In an interview with People magazine, he shared: "[I] love being their dad."
A former palace aide suggested that the funds from the Queen Mother were arranged as a "tax-efficient" method for her to leave a legacy for her descendants. They noted: "There was a trust fund set up at the time.
"It was a way in which the Queen Mother could set aside money for when her great-grandchildren were older and a way of passing a slice of her estate down in a tax-efficient way.
"It was a way in which some of her estate could be ring-fenced for them."
King Charles conveyed a heartfelt birthday message to his youngest son on his 40th birthday this past weekend. The royal's official social media account shared, "Wishing The Duke of Sussex a very happy 40th birthday today! " along with a cherished photo where Prince Harry is featured laughing off-camera, donned in a light grey suit jacket, crisp white shirt, and his familiar bracelets.