Sussex is left in a state of shock as Princess Anne assumes full authority over Prince Harry’s trust funds on his birthday.
The trust was established by Her Majesty the Queen, with Anne serving as the primary trustee.
In the United Kingdom, trusts are typically created to generate income for beneficiaries, occasionally allowing for capital lump sums to be released for significant expenses like property purchases or weddings.
Any capital release usually necessitates approval from the board of trustees at their discretion, providing a means of safeguarding the funds from taxation and potential reckless spending by family members.
On August 15th, Prince Harry’s first birthday following the Queen’s passing, Princess Anne is set to take full control of his trust funds in light of his recent controversial remarks about the royal family.
Sources close to the royals revealed that this decision was prompted by concerns that Harry’s actions were detrimental to the charitable organizations he represents.
A royal insider expressed, “You really don’t want people who are divisive representing your charity.”
Harry’s recent statements and conduct have been divisive, leading to the conclusion that his continued representation of these charities may not be in their best interests.
As part of the transition, a significant portion of the funds previously managed by Harry will be transferred to Princess Anne, renowned for her dedicated charity work and commitment to collaborating with organizations that positively impact society.
Beyond her royal responsibilities, Princess Anne holds prominent roles as president or patron of various charitable entities, such as African Parks, Dolem Cimru, and Rhino Conservation.
Despite losing control of his trust funds, Harry will retain his affiliations with these organizations, albeit with uncertain influence over their future operations.
The decision to entrust Prince Harry’s funds to Princess Anne coincides with reports indicating the challenges faced by the Duke and Duchess of Sussex in making substantial contributions through their charity work in the United States.
Sources suggest that the couple has struggled to gain significant visibility for their charitable endeavors and failed to fulfill business commitments due to mental health concerns.
Moreover, the couple’s Charitable Foundation is registered in Delaware, known for its lenient regulations allowing charities to allocate only 5% of their income to actual charitable work, while the remaining 95% can be utilized for expenses.
Harry’s recent disclosures have also resulted in the revocation of his patronage with the London Marathon Charitable Trust.
His admissions of drug use, claims of causing fatalities, bullying, and other controversial statements have raised eyebrows and led to repercussions within the royal circles.
Princess Anne’s move to assume control of Harry’s trust funds serves as a clear message from the royal family that divisive behavior and actions tarnishing the monarchy’s reputation and the charities it supports will not be tolerated.
The aftermath of this decision on Harry’s future endeavors remains uncertain, prompting speculation about his next steps in response to this significant development.