Prince William And Prince Harry To Split Assets In Separation Agreement
Prince William and Prince Harry have made the decision to split an important inheritance that they had previously been appointed joint custodians of.
The pair have come to an agreement over how to handle proceeds of Princess Diana’s memorial fund, following the younger brother’s exit from the royal family.
According to financial documents, the brothers made the decision to split the future funds between the Duke and Duchess of Cambridge’s Royal Foundation and the now abandoned Sussex Royal Foundation in December last year.
The agreement was made months before Prince Harry and Meghan Markle announced their decision to step back as senior members of the royal family and become financially independent as of March 31.
The Royal Foundation assumed legal control of the late Princess’ memorial fund in April 2013. While the fund no longer fundraises, it’s believed to occasionally receive some legacies and donations which are then forwarded to charities, chosen by Harry and William.
The documents outline that in 2019 The Royal Foundation received £21,346 from the fund.
In the future, it is understood that the funds will continue to be split and Harry will now donate his portion of the funds to Sentebale, a charity he founded to help the victims of extreme poverty and HIV/Aids in Lesotho, Botswana and Malawi.
In June last year, the Duke and Duchess of Sussex announced they they were splitting from their joint charity with the Duke and Duchess of Cambridge. As a result, the foundation was renamed the Royal Foundation of the Duke and Duchess of Cambridge.
Harry and Meghan later established the Sussex Royal Foundation which has since been abandoned following the couple's shift away from the Monarchy.
Earlier this year, the couple revealed that they plan to launch a global charity named after their son, Archie, called Archewell.
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