Prince Harry to inherit millions from Diana on 30th birthday

PRINCE Harry has reason to celebrate. He’s 30 today, which means inheritance from his mother’s estate thought to be worth 10.7 million pounds.

PRINCE Harry turns 30 today, making him eligible for the multi-million-pound inheritance left to him by his mother Diana, Princess of Wales.

Like his brother the Duke of Cambridge, Harry was left 6.5 million pounds in Diana’s will following her death in a car crash in 1997, but this is likely to have grown substantially since her death 17 years ago.

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Prince Harry is about to become even more mega rich. (AP Photo/Andre Penner)

Danny Cox, head of financial planning at Hargreaves Lansdown, predicted that the prince’s inheritance could have as much as doubled to 13 million pounds now depending on how the money was invested. Although inheritance tax was paid at the time of the princess’s death, Harry is likely to have to pay some additional inheritance tax and, at some stage, pay capital gains tax on the gains on the investments, which together could total as much as 2.3 million pounds, leaving the Prince with around 10.7 million pounds.

Mr Cox suggested: “If invested, this could produce an income of around 320,000 a year for life before tax, 230,000 after tax.” But he warned: “Those in receipt of a sizeable inheritance should consider their options carefully.

Diana, Princess of Wales at Niagara Falls with Prince Harry, then 7, and Prince William, then 9. (AP Photo/Hans Deryk).

“With the right investments management and tax advice, Harry could have a portfolio which supports him and a future family for generations.”

Diana had an estate of 21 million pounds but more than 8 million pounds was paid in inheritance tax, leaving just under 13 million pounds. It was split equally between William and his younger brother Harry.

Changes agreed to the will in December 1997 meant that, upon reaching 25, William and Harry were entitled to the whole of the income of their share. Before the age of 25, income could be paid at the trustees’ discretion.

The trustees could pay over capital at any time, but 30 was set as the age when the princes could ask for their share of the capital in full.

Now that he’s 30, Harry can take control of his share of the capital sum, as William did in 2012. Harry currently earns between 38,847 pounds and 46,198 pounds a year as a captain in the Army.

The princess’s estate was made up of stocks and shares, jewellery, her multi-million-pound divorce settlement, dresses and personal items from Kensington Palace.

William and Harry will now receive Diana’s dresses, including her famous ivory silk wedding gown, as well as her tiaras, other priceless jewels, family paintings, letters and home movies. The heirlooms were being looked after by the princess’s brother Earl Spencer and formed part of the Diana: A Celebration exhibition, which was based at the Princess’s childhood home Althorp in Northamptonshire and also toured around the world. Lord Spencer confirmed Diana’s possessions were to be returned to his nephews when both had turned 30.