Prince Harry and Prince Andrew are facing financial difficulties as they have reportedly received nothing from Queen Elizabeth’s £650 million inheritance.
The situation is particularly challenging for Prince Andrew, who has expressed his concerns about starting a new life without any financial support.
The late Queen’s entire fortune has been bequeathed to King Charles, leaving his younger brother, Andrew, without any share.
According to sources, Prince Andrew has confided in his friends about his frustration over not receiving any part of the rumored £650 million inheritance.
This is because King Charles now has complete control over the royal finances and is exempt from paying taxes on the money.
As a result, he has not provided any financial assistance to his younger sibling.
The Duke of York finds himself bewildered by this lack of financial support, especially since he lost his taxpayer-funded security and housing when he retired as a working royal.
In addition to the loss of his yearly £249,000 stipend, Prince Andrew also faces the risk of losing his residence, the royal lodge, a £30 million mansion located in Windsor Great Park, which he shares with his ex-wife Sarah Ferguson.
With substantial investments already made in renovations, it will be challenging for Andrew to maintain the property without the financial subsidy.
Interestingly, it is not only Prince Andrew who feels bitter about the lack of inheritance.
Princess Anne and Prince Edward, who are both working royals funded by the Sovereign Grant, are also said to have some resentment.
Prince Edward, who was recently appointed Duke of Edinburgh, has a 150-year lease on Bagshot Park in Surrey, while Princess Anne owns the 700-acre Gatcombe Park in the Cotswolds.
A close friend of Prince Andrew shared his despair with The Sun on Sunday, stating, “He has looked into it and found no motivation.
He is hopeless.
God forbid, he’s a member of the family.
What is he supposed to do?
Beg his older brother for help to keep a roof over his head?”
While the Queen had made extensive preparations for all her children during her lifetime, King Charles has made it clear that the royal budget needs to be reduced.
Recently, it was revealed that he refused to cover Andrew’s expenses for a £32,000 yogi to visit him at home for treatment.
However, the King has assured that his brother will not be left without a house.
Royal expert Hugo Vickers commented on the situation, drawing comparisons to past actions within the royal family.
In 2002, the Queen Mother bequeathed her entire estate to her daughter, the Queen, as a means to avoid death duties and preserve the money.
Though the Queen Mother specified which family members should receive certain gifts, her daughter had the final say.
Similarly, King Charles can only make monetary presents to friends or family members without paying royal tax if he lives for another seven years, excluding his heir Prince William.
Renowned accountant and tax expert Mike Warburton explained, “He will not pay any death taxes on the Queen’s estate when it goes from one sovereign to another because he is a king.
He is allowed to give gifts to family members during their lifetimes, but if the King passed away before the seven-year window, such gifts would still be considered part of his inheritance.”
In other news, Sophie, Duchess of Edinburgh, expressed her relief at no longer having to bow to Meghan Markle.
With her new title, Sophie is now equal in status with the Duchess of Sussex.
Last Friday, King Charles granted Sophie and her husband Prince Edward the titles of Duke and Duchess of Edinburgh, bringing Sophie on par with Meghan rather than being subordinate to her.
Previously, as the Countess of Wessex, Sophie was obliged to bow to Meghan as the Duchess of Sussex due to Meghan’s higher position.
However, with her new title, Sophie no longer feels obligated to show deference to someone who has abandoned their royal responsibilities and criticized the organization that Sophie is dedicated to upholding.
The Queen had pledged to bestow the titles of Duke and Duchess of Edinburgh upon Edward and Sophie before her passing.
On Friday, which coincided with Edward’s 59th birthday, King Charles fulfilled the late Queen’s instructions, granting the couple their new titles.