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After her death, Queen Elizabeth II of the United Kingdom left over $500 million in personal assets during her 70 years on the throne. Most of her personal property will be inherited by King Charles III. This was reported by the American television channel CBC News.
According to Forbes, the Queen has earned capital through investments, art collections, jewelry and property ownership. In addition, after the death of the Queen Mother in 2002, Her Majesty inherited about $ 70 million, including paintings, a collection of stamps, porcelain, jewelry, horses and more. The deceased queen also owned Balmoral Castle in Scotland, where she died, and Sandringham House in England.
According to journalists, King Charles will inherit most of her personal property. In addition, a special legal clause exempted the queen from paying inheritance tax on property. Now it will apply to King Charles III of Great Britain. That way he won't face a 40% UK tax that would take away about $200 million of his mother's estate.
The Royal Manor — Buckingham Palace will also belong to the new monarch. However, it is not considered his private property, as it is in trust. This means that he cannot sell the assets.
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