Cynthia Spencer, the late Princess Diana’s sister, has reportedly taken a drastic step by prohibiting Prince Harry from accessing the funds from Diana’s discretionary estate until he finalizes his divorce from Meghan Markle.
At the time of Princess Diana’s tragic demise in August 1997, her estimated net worth stood at a substantial 21 million pounds, equivalent to approximately 31.5 million US dollars.
This encompassed various assets such as funds, stock investments, personal belongings like jewelry and attire, along with a hefty 17 million pound settlement from her divorce with Prince Charles.
According to legal documentation signed by Diana on June 1st, 1993, her estate was to be distributed among several beneficiaries, including her long-serving butler Paul Borrell, numerous godchildren, and predominantly, her beloved sons, William and Harry.
Notably, Diana established a discretionary fund in her will aimed at benefitting her sons and their future progenies.
The management of this fund still rests with Cynthia Jane Fellowes, Baroness Fellowes, who is Diana’s sister.
A sum of £100,000 was initially allocated to this fund, complemented by accrued interest and earnings from its assets.
With both Prince William and Prince Harry now married to Kate Middleton and Meghan Markle respectively, the latter two are also entitled to utilize funds from this discretionary estate.
Diana’s will specified that after the distribution of her possessions and the allocation of the discretionary fund, the residual estate should be held in trust for her sons until they reached the age of 25, given their young age at the time of her passing.
The executors of this trust, as per a codicil added to Diana’s will in February 1996, were her mother and sister.
Following Diana’s demise, a variation order was enacted, delaying the inheritance timeline for Harry and William.
Various estimates suggest that at the time of Harry and Meghan’s departure from royal duties, Harry’s share from Diana’s estate could have been in the vicinity of $20 million.
However, it remains uncertain whether this figure encompasses the discretionary fund or solely the residuary amount.
Reports indicate that Cynthia Jane Fellowes continues to oversee the remaining funds from Diana’s estate designated for Harry, with a clandestine clause in place implying that Harry may only access the full amount upon divorcing Meghan.
Notably, Meghan would not retain any jewelry gifted to her by Harry in the event of a divorce, unless explicitly stated and legally binding.
It is presumed that Princess Charlotte and Lilibet would inherit the lion’s share of Diana’s jewelry allocated to William and Harry respectively.
In conclusion, the intricate web of Diana’s estate and the stipulations surrounding Harry’s inheritance underscore the complexities of royal legacies and familial ties.
The saga surrounding the discretionary fund and the potential implications of Harry and Meghan’s marital status on his inheritance continue to captivate public intrigue, shedding light on the intricacies of royal wealth management and succession planning.