Prince Andrew ‘confused’ that he has yet to receive an inheritance from the late Queen
Prince Andrew was “confused” that he has yet to receive an inheritance from Queen Elizabeth II, royal sources have claimed.
After the Queen’s death last Septemberher £650m estate in the Duchy of Lancaster was automatically ceded to King Charles.
However, Prince Andrew, 63, is said to have told friends he was “distressed” that the king had not shared any of his newfound wealth among his siblings.
According to the Daily Mail, Prince Andrew feels a certain “resentment” about the situation.
A palace source told the newspaper the fortune of the queen passed directly “from monarch to monarch” because that was the “most tax efficient” way to transmit it.
In 1993 new legislation was introduced passed under Sir John Major which meant that no inheritance tax had to be paid when transferring assets from one state to another. As a result, the estate was left entirely to the new monarch, rather than being divided among family members.
A friend of the Yorks said: “Andrew is desperate. He was left completely in the dark. Andrew is a family member, for goodness sake, but he had no idea this was coming. I assume he checked it and it’s true. It’s all gone from monarch to monarch.
“What is he up to? Going to his older brother with a hat in hand to have a roof over his head? Things keep getting worse. It’s a disaster.”
Not in public life anymore
Prince Andrew Withdrew from public life in 2019.
He currently resides at the Royal Lodge in Windsor and is responsible for the historic building’s renovation costs, which are believed to be enormous. However, from next month the King is set to cut Prince Andrew’s £249,000 annual allowance from the Duchy of Lancaster, leaving him may be left with no choice but to vacate his house because of the rising costs.
Royal sources recently insisted that the monarch would not leave his brother “homeless or destitute”..
It comes after the 74-year-old royal apparently refused to pay for Prince Andrew’s Indian healer guru, who is asking for £32,000 a year. The guru is said to be treating the prince at his Windsor home with singing, massage and holistic therapy.
The Sun reported that the Duke of York filed the expense report with the Privy Purse – the King’s private income, which mainly comes from the Duchy of Lancaster. A source told the newspaper that the treatment was “very expensive”, adding that while the late queen was “happily spoiled for her son over the years,” the king was “far less inclined” to fund such treatments.
Buckingham Palace declined to comment.
The Duke of York’s office has been asked for comment
https://news.yahoo.com/prince-andrew-bewildered-yet-receive-182509578.html Prince Andrew ‘confused’ that he has yet to receive an inheritance from the late Queen