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Here’s why Queen Elizabeth II’s wealth and to remain secret even in her death

Britain’s longest reigning monarch late Queen Elizabeth II, owner of the most exquisite collection including tiaras, crowns, expensive art work and palaces breathed her last on Sept 8.

Here’s why Queen Elizabeth II’s wealth and will remain secret even after death

During a legal battle over the will of Queen&rsquo;s younger sister, Princess Margaret, a court was told &ldquo;primary reason and purpose of sealing royal wills is to protect the privacy of the sovereign," as per the PTI report.

Britain&rsquo;s longest reigning monarch late Queen Elizabeth II, owner of the most exquisite collection including tiaras, crowns, expensive art work and palaces breathed her last on Sept 8. Amid speculations around the late Queen's wealth, it looks like the actual value of her wealth shall remain a secret for a long time. The will specifying how her wealth should be distributed will also be kept private.
Here&rsquo;s why the Queen's estimated wealth and will can not be made public.&nbsp;
Firstly, the wills of the sovereign, along with other members of the royal family have never been made public historically
Although, <a href="https://www.editorji.com/world-news/ex-pm-theresa-may-recalls-when-queen-elizabeth-ii-watched-her-every-move-1662788310297">Queen Elizabeth</a>'s wealth was calculated at 340 million pounds in 2015 by the &lsquo;The Sunday Times Rich List&rsquo;, with the major source of a British sovereign&rsquo;s personal money being the Duchy of Lancaster.
It is the sovereign&rsquo;s private estate, existing purely to give the reigning monarch an income: in the financial year ending March 31 it was valued at about 652 million pounds and generated a net surplus of 24 million pounds, the PTI report said.
According to news agency PTI, the British monarchy as a brand was valued at around USD 88 billion in 2017 by valuation consultancy firm Brand Finance, with Queen Elizabeth&rsquo;s personal wealth from investments, art, jewels and real estate estimated by Forbes to be worth around USD 500 million.&nbsp;
Also Watch| <a href="https://www.editorji.com/india-news/queen-elizabeth-death-demand-for-return-of-kohinoor-odisha-group-says-it-belongs-to-lord-jagannath-1663053374710">Queen Elizabeth death: demand for return of Kohinoor, Odisha group says it belongs to Lord Jagannath</a>
However, according to The Times report, it is believed that the sovereign&rsquo;s private estate would not even appear in the Queen&rsquo;s will as it is an inalienable asset of the Crown which will be simply passed from sovereign to sovereign.&nbsp;
Importantly, no inheritance tax is liable on the Queen&rsquo;s personal wealth due to a deal struck in 1993 with the then John Major-led government. As a part of the deal the Queen agreed for the first time to pay income tax, but it was stipulated that sovereign-to-sovereign bequests would be exempt from inheritance tax.
The Treasury Memorandum of Understanding on Royal Taxation, written in 2013, states: &ldquo;The reasons for not taxing assets passing to the next sovereign are that private assets such as Sandringham and Balmoral have official as well as private use and that the monarchy as an institution needs sufficient private resources to enable it to continue to perform its traditional role in national life, and to have a degree of financial independence from the government of the day."
During a legal battle over the will of Queen&rsquo;s younger sister, Princess Margaret, a court was told &ldquo;primary reason and purpose of sealing royal wills is to protect the privacy of the sovereign," as per the PTI report.
Besides, since the late monarch was the source of legal authority &ndash; her will does not have to be published like others. Also, many sources of the Queen&rsquo;s wealth do not fall in the category of her private property but are held in trust for future generations and will simply pass over to the next sovereign, now&ndash; <a href="https://www.editorji.com/world-news/watch-king-charles-quotes-shakespeare-in-first-speech-as-monarch-to-uk-parliament-1662986374544">King Charles III</a>.&nbsp;
Also Watch| <a href="https://www.editorji.com/world-news/queen-elizabeth-death-youth-heckles-prince-andrew-during-procession-1663057338761">Queen Elizabeth death: youth heckles Prince Andrew during procession</a>

This family drama is more gripping than any of the Harry Potter books that their company published. The owner of Scholastic Corp that publishes the mega popular series, died suddenly in June while out on a walk.
It now turns out that Richard Robinson Jr has left his $1.2billion company to his lover and cut his sons and ex-wife out of his will.
He is survived by his two sons and ex-wife.
But the 84-year-old has left the company to Iole Lucchese, the company's strategy officer, who family members and former employees describe as his lover, reports said. She has also inherited all his personal possessions.
The developments have reportedly left his family members in shock and they are planning legal action.

Harry Potter publisher leaves $1.2bn fortune to lover, cuts family out of will

Harry Potter publisher Richard Robinson Jr has left his $1.2billion company to his lover leaving his sons and ex-wife in shock

This family drama is more gripping than any of the Harry Potter books that their company published. The owner of Scholastic Corp that publishes the mega popular series, died suddenly in June while out on a walk.
It now turns out that Richard Robinson Jr has left his $1.2billion company to his lover and cut his sons and ex-wife out of his will.
He is survived by his two sons and ex-wife.
But the 84-year-old has left the company to Iole Lucchese, the company's strategy officer, who family members and former employees describe as his lover, reports said. She has also inherited all his personal possessions.
The developments have reportedly left his family members in shock and they are planning legal action.

The owner of Scholastic Corp that publishes the mega popular series, died suddenly in June. It now turns out that Richard Robinson Jr has left his $1.2billion company to his lover leaving his sons and ex-wife in shock

This family drama is more gripping than any of the Harry Potter books that their company published. Richard Robinson Jr, owner of Scholastic Corp that publishes the mega popular series, who died unexpectedly has left his $1.2 billion company to his lover and cut his sons and ex-wife out of his will.
Robinson who died suddenly in June while out on a walk is survived by his two sons and ex-wife.
But the 84-year-old has left the company to Iole Lucchese, the company's strategy officer, who family members and former employees describe as his lover, reports said. She has also inherited all his personal possessions.
The developments have reportedly left his family members in shock and they are planning legal action.

Freshest staycay? Will Smith hosting Fresh Prince mansion on Airbnb

Hollywood star Will Smith has linked up with pal DJ Jazzy Jeff to become an Airbnb host for the iconic mansion that was featured in the hit sitcom Fresh Prince of Bel-Air that kicked off Smith's career.&nbsp;
Smith has listed himself as the host for a part of the mansion for a meagre $30 per night to mark the show's&nbsp;30th anniversary.&nbsp;
The mansion, which is located in Los&nbsp;Angeles, features a display of Will's hat and sneaker collection, his closet from which guests can pick and try on an outfit.
Guests also have exclusive access to the pool area, outdoor lounge and a dining area during their stay as no two guests will be allowed on-premises at the same time to follow social distancing rules.&nbsp;

Will Smith turns Airbnb&nbsp;host for mansion from&nbsp;Fresh Prince of Bel-Air
Book a stay for $30/night to mark the show's&nbsp;30th year&nbsp;
Rental features Smith's hat, sneaker collection and his closet&nbsp;
Only one guest booking at a time to maintain social distancing&nbsp;

Hollywood star Will Smith has linked up with pal DJ Jazzy Jeff to become an Airbnb host for the iconic mansion that was featured in the hit sitcom Fresh Prince of Bel-Air that kicked off Smith's career.&nbsp;
Smith has listed himself as the host for a part of the mansion for a meagre $30 per night to mark the show's&nbsp;30th anniversary.&nbsp;
The mansion, which is located in Los&nbsp;Angeles, features a display of Will's hat and sneaker collection, his closet from which guests can pick and try on an outfit.
Guests also have exclusive access to the pool area, outdoor lounge and a dining area during their stay as no two guests will be allowed on-premises at the same time to follow social distancing rules.&nbsp;

will

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