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Monday, 6 May, 2002, 09:17 GMT 10:17 UK
Queen Mother's will to be unveiled
Prince Charles is expected to move to Clarence House
Details of the Queen Mother's will are expected to be announced by Buckingham Palace this week, amid fears it will spark a row about the monarchy.
Under a 1993 agreement with John Major's Conservative government, the Queen will pay no inheritance tax on her mother's estimated £70m fortune. This money has come largely from shrewd investments which include paintings, a valuable Faberge egg collection, china, jewellery and a number of successful horses. Expected to go to the Queen, most of the estate would be exempt from tax - at 40% above a £250,000 threshold - under a "sovereign-to-sovereign" clause.
In 1994, the Queen Mother reportedly put aside two-thirds of her money into a trust fund for her great grandchildren. Princes William and Harry will reportedly share about £14m from the estate of their late great grandmother. The bulk of the cash will go to the younger brother, since William will benefit financially by becoming king. Princess Anne's children Zara and Peter Phillips and Prince Andrew's daughters Beatrice and Eugenie, together with Princess Margaret's children Viscount Linley and Lady Sarah Chatto, will also receive a cash gift. But the Queen has not yet finalised details of a shuffle of royal residencies, according to the palace. Public The Prince of Wales is expected to move to his grandmother's former London home, Clarence House, which housed the Queen and the Duke of Edinburgh when she was heir to the throne. Birkhall, the Queen Mother's Highland white-washed 18th century house on the River Muick at Balmoral, Scotland, and reportedly the prince's favourite, is also expected to go to Charles.
The seven-bedroom 19th century Royal Lodge in Windsor Great Park, where the Queen Mother died, is expected to become the home of the Duke of York. Painted pink, with 36 acres of grounds and a pool where the Queen and Princess Margaret learned to swim as children, it was the Queen Mother's private country retreat since King George V gave it to her and her husband in 1931. Andrew's current house, Sunninghill Park, owned by the Crown Estate, could be put up for sale. His former wife, Sarah, Duchess of York, and their two children, Princess Beatrice, 13, and Princess Eugenie, 12, have already moved out. The Queen Mother's Highland retreat, the Castle of Mey at Caithness, under the control of a charitable trust, is expected to be opened to the public five days a week from 4 August - which was her birthday.
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