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Prince Andrew has been left “bewildered” that he has not yet received any inheritance from Queen Elizabeth II, royal sources have claimed.
After the Queen’s death last September, her £650 million Duchy of Lancaster estate was automatically left to King Charles.
However, Prince Andrew, 63, is said to have told friends he feels “despair” that the King has not shared any of his new wealth among his siblings.
According to the Daily Mail, Prince Andrew feels an amount of “resentment” at the situation.
A palace source told the paper that the Queen’s fortune had passed directly “from monarch to monarch” because that was the most “tax efficient” way to transfer it.
In 1993 new legislation was passed under Sir John Major which meant inheritance tax did not have to be paid on the transfer of assets from one sovereign to another. As a result, the estate was left in its entirety to the new monarch, as opposed to being divided among family members.
A friend of the Yorks said: “Andrew is in despair. He’s been left completely in the dark. Andrew’s a member of the family, for God’s sake, yet he had no idea this was coming. I gather he’s checked it out and it’s true. It’s all gone “monarch to monarch”.
“What’s he meant to do? Go cap in hand to his older brother to keep a roof over his head? Things are going from bad to worse. It’s a disaster.”
No longer in public life
Prince Andrew stepped back from public life in 2019.
He currently resides at Royal Lodge in Windsor and is responsible for the refurbishment costs of the historic building, which are understood to be vast. However, from next month, the King will cut Prince Andrew’s annual £249,000 allowance from the Duchy of Lancaster and so he may be left with no choice but to vacate his home due to the rising costs.
Royal sources insisted recently that the monarch would not leave his brother “homeless or penniless”.
It comes after the 74-year-old King has apparently refused to pay for Prince Andrew’s Indian healer guru, who charges £32,000 a year. The guru is reported to treat the Prince with chanting, massages and holistic therapy at his home in Windsor.
The Sun reported that the Duke of York submitted the expense claim to the Privy Purse – the King’s private income which is mostly from the Duchy of Lancaster. A source told the newspaper that the treatment was “very expensive,” and added that while the late Queen was “happy to indulge her son over the years” the King is “far less inclined” to fund such treatments.
Buckingham Palace declined to comment.
The Duke of York’s office has been contacted for comment
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