The Queen has a few overseas investments.
When you think of the Royal family, you likely do not think of investing.
You may think of tragic events like the death of Princess Diana.
Or you may think of the fairy-tale loves of Prince William and Catherine, Duchess of Cambridge, or of Prince Harry and Meghan Markle.
Again, not likely.
According to a recent CNN Money article titled “Queen's estate invested $13 million in offshore tax havens,” the Queen of England does have financial investments.
The BBC received leaks regarding these investments.
What information was leaked?
The income for the Queen is provided by the Duchy of Lancaster.
The Duchy of Lancaster has apparently invested more than $13.1 million into funds in Bermuda and the Cayman Islands.
One of these funds had connections to an irresponsible business in the UK.
Does this mean the Queen is in trouble?
There are no charges of wrongful behavior.
In fact, the Queen voluntarily pays income tax even though she is exempt by law.
The Duchy claims all of the actions taken were legal and legitimate.
In the grand scheme of the Queens financial holdings, this is a small amount.
The Duchy is valued at $680 million.
This is where the Queen receives income for official expenses.
Where are the majority of these investments?
Most are with agricultural, residential or commercial properties.
Did the Queen know where her money was being invested?
Although we cannot say for certain, she probably was unaware.
Many people—royal or not so—do not know where their money is being invested.
If you are not working with a financial advisor, then you would be prudent to make that one of the resolutions you make (and keep) for 2018.
Remember: “An ounce of prevention is worth a pound of cure.” When making your financial, tax and estate plans, do not go it alone. Be sure to engage competent professional counsel.
For more information about estate planning in Overland Park, KS (and throughout the rest of Kansas and Missouri), visit our estate planning website and be sure to subscribe to our complimentary estate planning e-newsletter while you are there.
Reference: CNN Money (November 6, 2017) “Queen's estate invested $13 million in offshore tax havens”