7 Things Prince Harry and Prince William Inherited from Princess Diana
In 1993, four years before her tragic death, Princess Diana signed a last will and testament. Understandably, she gifted many of her possessions to her two sons, but acquiring that inheritance didn't end up being quite so simple.
Part of her net worth
At the time of her death in August 1997, Diana, Princess of Wales reportedly had a net worth of about 21 million pounds, an amount then equal to about 31.5 million U.S. dollars. This included all of her funds, stock investments, physical objects like jewelry and clothing, and her £17 million divorce settlement from Prince Charles. As per the documents she signed on June 1, 1993, her net worth, legally known as her estate, was divided between several different people, including her longtime butler, Paul Burrell, and her many godchildren. Unsurprisingly, though, her primary beneficiaries were her beloved sons, William and Harry.
In her will, Diana established a “Discretionary Fund” that would benefit her two sons and their future families. A hundred thousand pounds reportedly went into the fund, in addition to accumulated interest and income from the assets of the fund. Now that Prince William and Prince Harry are both married, Kate Middleton and Meghan Markle are also allowed to accept and use the money from this fund. This is how much each person in the British royal family is worth now.
Jewels and other material possessions
The day after she signed the original will, Lady Di composed an additional document called the Letter of Wishes, which laid out what she wanted done with her jewelry and other material possessions. The letter requested that 75 percent of these personal effects, called “chattels” in the U.K., be evenly distributed between William and Harry. Reportedly, she even specifically stated in the letter that she hoped that her sons’ eventual wives would one day be able to wear her jewelry. The other 25 percent of the chattels was to go to her various godchildren.
Diana requested that, after the distribution of her material possessions and allocation of the Discretionary Fund, the remainder of her estate be divided between her sons. She bequeathed the remainder, or the “residuary estate,” to them on the condition that it remain in a trust until they turned 25. Since they were just teens when she passed away, the estate was placed in a trust. The executors of the trust, according to a codicil, or supplement, Diana added to the will in February 1996, were her mother and sister.
Unfortunately, Diana’s vision of her inheritance didn’t quite come true the way she envisioned it. A few months after Diana’s death, her mother and sister sought—and enacted—a variance to the will known as “The Arrangement.” This variation order postponed the date Harry and William would inherit their share of the estate. Though they could still receive interest from the trust upon turning 25, they wouldn’t inherit the full sum until they turned 30. By the time both princes were 30, the residuary estate amounted to £10 million (about $16 million) for each of them. And that wasn’t the only change that the executors made; The Arrangement also altered the amount of property that Diana’s 17 godchildren received.
Part of the property that fell into William and Harry’s possession after their mother’s death was her wedding dress. The David and Elizabeth Emanuel-designed gown, whose 25-foot-long train remains the longest in British royal wedding history, was passed down to the princes as part of her will. However, it took a long time for her sons to actually receive the dress. Like the rest of the residuary estate, it became the property of her sons when they turned 30. Before then, it remained part of a collection that belonged to Diana’s brother, Earl Spencer. On Harry’s 30th birthday, in September 2014, the breathtaking silk gown finally changed hands from Spencer to his nephews. Here are 12 secrets you never knew about Princess Diana’s wedding.
After Diana’s death, each of her sons was allowed to choose a “keepsake” from her most beloved belongings at Kensington Palace. Prince William chose a gold Cartier Tank Francaise watch, one that the princess’s father had given her. After her divorce, Diana was frequently photographed wearing this watch, and William knew his mother would have wanted him to have it. Don’t miss these secrets about Princess Diana that no one knew until after her death.
The keepsake that Harry chose was the stunning blue 12-carat sapphire and diamond ring that Prince Charles purchased for his bride-to-be in 1981. However, the brothers had reportedly agreed that whichever of them got engaged first would be allowed to pass the ring on to his fiancée. So, when William was preparing to pop the question to Kate Middleton, Harry gave the ring to his big brother. Aww! Fear not, though: Harry got to pay tribute to his late mother with his engagement, too. Harry designed Meghan’s ring himself, and the two diamonds on either side of the larger one came from Diana’s personal collection. We’re sure the People’s Princess would be absolutely touched. Next, get a look at these rarely seen photos of Princess Diana and Prince Harry.