A palace source has revealed that the Queen’s fortune has passed directly to King Charles, noting that the inheritance is transferred ‘from monarch to monarch.’ In 1993 a decision was made that removed inheritance taxes on the funds if they were transferred from one sovereign to another, making it the most ‘tax efficient’ way to transfer wealth.
Unfortunately, this means that none of the Queen’s other children, including Anne and Edward, have received any of the money. So far, King Charles has failed to share the money with his siblings, and Prince Andrew has said he is ‘bewildered’ and ‘in despair’ over the King’s failure to give him a share of their mother’s fortune.
A friend of Andrew’s gave an update on his situation, saying,
“Andrew is in despair. He’s been left completely in the dark. Andrew’s a member of the family, for God’s sake, yet he had no idea this was coming. I gather he’s checked it out, and it’s true. It’s all gone “monarch to monarch.” ‘What’s he meant to do? Go cap in hand to his older brother to keep a roof over his head? Things are going from bad to worse. It’s a disaster.”
Speculation on the financial situation has increased following the King’s refusal to pay a £32,000 bill for Andrew’s Indian yogi healer, who lives at Royal Lodge, Windsor, for up to a month at a time with the Yorks.
“Andrew hasn’t been uniquely targeted for ill-treatment. Her late Majesty supported her children during her lifetime and had made provision for them already,” a source inside the palace said.
However, there is speculation that Prince Andrew may consider doing an interview, like Prince Harry, as a source of income. Andrew’s siblings, Edward and Anne, are working royals who receive a stipend. But Andrew stepped down from his royal duties three years ago amidst allegations of sexual misconduct tied to the Jeffrey Epstein sex scandal. Andrew continues to deny the allegations.
According to the Dail Mail, the king can give a tax-free gift to other royals provided he lives for at least seven more years. Otherwise, a cash gift will not be tax-exempt. So, for now, Andrew is forced to rely on the generosity of his brother, the king.