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Monday, March 2, 1998 Published at 13:53 GMT


Diana leaves £21m
image: [ Diana, Princess of Wales, left most of her estate to her two sons, William and Harry ]
Diana, Princess of Wales, left most of her estate to her two sons, William and Harry

Diana, Princess of Wales, left more than £21m in her will which was published on Monday.

The BBC's court correspondent Jennie Bond reports on the will (2' 06")
Inheritance tax paid on Diana's fortune amounted to more than £8.5m, her lawyers said.

The first page of her will states: "I express the wish that should I predecease my husband he will consult with my mother with regard to the upbringing, education and welfare of our children."

Princess Diana's six-page will, written on June 1, 1993, explains how the princes would be cared for in the event of her death.

[ image: Princes William and Harry]
Princes William and Harry
The bulk of the Princess's fortune will be held in trust for the Princes William and Harry.

Some of the details in the will were changed posthumously to allow William and Harry to alter the way the trust fund is split when they are older.

The changes, made by a Variation Order, also left £50,000 to her butler Paul Burrell, who she referred to as "my rock".

The BBC's court correspondent Jennie Bond said that the princes will be entitled to some of the interest from the trust before they are 25.

When they reach 25 they will be entitled to all income from the estate and five years later they will inherit the whole of the trust fund.

Other beneficiaries are Princess Diana's 17 godchildren, who will each receive a gift from Diana's possessions, chosen by the will's executors.

The Princess's wedding dress, her wardrobe and intellectual property rights are left for charitable purposes or for the benefit of her sons, William and Harry.

Martyn Gowar, of Lawrence Graham solicitors, outlines the will (2' 00")
According to lawyers Lawrence Graham, acting for the executors of Diana's estate, the gross value of her belongings was £21,711,485.

After payment of unspecified personal taxes, an estate of £21,468,352 remained.

Inheritance tax of £8,502,330 was then paid, leaving a net estate of £12,966,022 to be distributed to beneficiaries.

[ image: Lawyer Martyn Gowar]
Lawyer Martyn Gowar
Martyn Gowar, a senior partner at Lawrence Graham, said: "The variations were to allow for certain assets comprised in the estate to be utilised for charitable purposes, for example items from her wardrobe and the intellectual property rights.

"Additionally, the order extends the executors' powers over the trusts established for the princes.

"Finally, the Bishop of London, a non-family member, was appointed as a third executor/trustee."

The first new clause, put into the will on December 19 last year, after her death states: "I bequeath to my butler Paul Burrell the sum of £50,000 free of inheritance tax."

The solicitors said they received a grant of probate on Monday, confirming the validity of the will and empowering the executors.

The executors are Diana's mother Mrs Frances Shand Kydd; her sister, Lady Sarah McCorquodale; and the Bishop of London, the Right Reverend Richard Chartres.

Public can buy the will

Members of the public may obtain copies of the original will from the Probate Registry at Somerset House in London for a fee of 75p.

Copies will be available from Probate Registry district offices in Andover, Birmingham, Brighton, Bristol, Cardiff, Ipswich, Leeds, Liverpool, Manchester, Newcastle-upon-Tyne, and Oxford.

The original can also be obtained by post from the Principal Registry of the Family Division, Somerset House, Strand, London WC2R 1LP. A cheque for £2 payable to HM Paymaster General should be enclosed. Copies of the ammended document will cost £9.

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