Remembering The Queen, And All Her Fortunes
After ruling for 7 decades, one can only imagine the personal net-worth that Queen Elizabeth II left behind, "approximately $500 million in personal net worth and an extensive personal art, jewelry and real estate collection."
While other members of the Royal Family are out of luck when it comes to any inheritance from the late Queen, the new King Charles III will not have to pay inheritance tax on things inherited through the sovereign transition due to a legal clause drawn up in 1993.
However, that is not the same case for any jewels, art, or real estate that the queen has designated in her will to gift to anyone, they will have to pay inheritance tax... The British inheritance tax amounts to 40% of the items value, on any of those items, royal commentator Josh Rom told the New York Post.
Read the full article written by VERONIKA BONDARENKO at https://www.thestreet.com/investing/king-charles-iii-has-one-heckuva-tax-break