As any other loving grandmother, the Queen Mother put aside some of her funds to be given upon her death to her great-grandsons Prince Harry and Prince William.
According to the BBC, she put into a trust fund two-thirds of her money in 1994, eight years before her death.
But after she passed away, on March 30 2002, the princes didn’t evenly split her fortune, with Harry reportedly receiving the bulk of the cash.
This decision was not based on a preference between the brothers, but came after a mindful consideration.
As Prince William is the third-in-line to the throne, he is set to become the new Prince of Wales after Prince Charles inherits the crown upon the death of the Queen.
This means he will take on the Duchy of Cornwall, a private estate which funds the public, charitable and private activities of the heir to the throne.
As a consequence, he will receive more financial benefits than the ones Prince Harry will ever have.
Following the Queen Mother’s death, Buckingham Palace had to release an outline of her will following an order of the High Court, urging the royals to not keep it private.
Her testament showed the Queen Mother left a fortune worth millions to her heirs.
Her entire estate, valued between £50 to £70 million, was given to her only surviving daughter, the Queen.
The monarch’s inheritance includes works of art and house contents, the most important of which went on public display.
This fortune comes largely from investments, including paintings, a valuable Faberge egg collection, precious china, jewellery and horses.
A statement released at the time read: “Queen Elizabeth The Queen Mother has bequeathed her entire estate (which mainly comprises the contents of her houses) to The Queen.
“In her will, she asked The Queen to make certain bequests to members of her staff, and these bequests will be subject to Inheritance Tax in the normal way.
“The Queen has decided that the most important of Queen Elizabeth’s pictures and works of art should be transferred to the Royal Collection.
“Some of these items, including works by Monet, Nash and Carl Fabergé, from Queen Elizabeth’s collection will be on display in the ‘Royal Treasures’ exhibition, which is due to open at the new Queen’s Gallery, Buckingham Palace, on 22 May.”
Prince Charles received the Queen Mother’s residence, Clarence House.
The wife of late King George VI left behind a fortune, but not all of it was taxed.
Thanks to a special legal clause agreed by former Conservative Prime Minister John Major, the Queen didn’t have to pay inheritance tax on the estate.
The clause rules that inheritance from a sovereign to sovereign or the consort of a sovereign to a reigning monarch is exempt from the 40 percent tax, above a £250,000 threshold.
This decision was made to avoid erosion of the Royal Family’s wealth.
Any bequests from the Queen Mother to staff and other members of the family was, on the other hand, taxed.