£1M From Those Sho Die Without Wills Passes to Prince Charles's Estate

[cinrit]

More than £1 million has passed to the Prince of Wales's Duchy of Cornwall estate in the last six years from people who died without making a will or having an heir, latest accounts show.

Under powers dating back to medieval times, the Duchy is entitled to all unclaimed property and estates left when someone dies in Cornwall, in an arrangement known as bona vacantia.

In the last financial year alone, £552,000 passed to the Duchy under the ancient law, which was put in place when the Duchy was created by Edward III in 1337 for his son and heir, Edward, the Black Prince.

The Prince of Wales does not, however, keep any of the money; instead it is distributed in charitable donations through the Duke of Cornwall's Benevolent Fund, with a small amount kept in reserve for any future claims on unclaimed estates.

£1m from those who die without wills passes to Prince Charles's estate - Telegraph 

Cindy

[Jenee]

This article claims it's only a half-mil: How Prince's Duchy estate is paid a packet by Cornwall's dead - Home News - UK - The Independent

More than £500,000 was passed to the Prince of Wales's Duchy of Cornwall estate in the last financial year from people who passed away with no will or living relatives.

Under centuries-old powers known as bona vacantia – the legal term for ownerless land – all unclaimed property belonging to someone who dies in Cornwall automatically passes to the Duchy, which is owned by the Prince of Wales.

This is not an uncommon practice. When the same thing happens in the US, the money/assets/etc are claimed by the State.

[Macrobug]

It is going to be a different amount every year, dependant of the estate value of the people who die  bona vacantia.  The Duchy of Cornwall is a separate legal entity.  The estate of people who die without a will in the rest of GB goes to the state.  In the Duchy it goes to the Duchy.  For 40 years he has been sending almost all of it to charities.  PC isn't benefiting from it.

I think the Republicans are barking up the wrong tree with this one

[Eri]

^ The Republicans are the Cheryl Cole to his Prince Harry  :lol:.

[memememe]

Those who die in the Duchy of Lancaster have their estates paid to that Duchy as well.  I wonder if the Duke of Lancaster gives it back via a charitable trust or whether she simply pockets the money - I suspect the latter.

[Jenee]

Interesting. Down with the aristocracy!!!

[Lucy]

Those who die in the Duchy of Lancaster have their estates paid to that Duchy as well.  I wonder if the Duke of Lancaster gives it back via a charitable trust or whether she simply pockets the money - I suspect the latter.

Such a low opinion of HM. No , she doesn't " pocket the money."
She sets the example for Charlie.

Q Where does the money go from the estates of people who die without leaving a will?
A The net income from these estates is transferred to registered charities established by the Duchy of Lancaster, after allowing for the cost of undertaking the duties and responsibilities associated with the historical obligations of the Duchy.

FAQs | Duchy of Lancaster

[Mike]

When the same thing happens in the US, the money/assets/etc are claimed by the State.

Yes, but here the money/assets/etc don't go to an individual person.

[memememe]

Those who die in the Duchy of Lancaster have their estates paid to that Duchy as well.  I wonder if the Duke of Lancaster gives it back via a charitable trust or whether she simply pockets the money - I suspect the latter.

Such a low opinion of HM. No , she doesn't " pocket the money."
She sets the example for Charlie.

Q Where does the money go from the estates of people who die without leaving a will?
A The net income from these estates is transferred to registered charities established by the Duchy of Lancaster, after allowing for the cost of undertaking the duties and responsibilities associated with the historical obligations of the Duchy.

FAQs | Duchy of Lancaster

As it was Charles who convinced her to pay income tax in 1992 (he had been paying it for 20+ years at that point) it is more than likely that again it was Charles who encouraged the Queen to set up a charitable trust.

The Queen has been crying that she needs more money since the mid-60s which is why I have a low opinion of her and her grab for money.

Charles paid income tax at 50% for quite a while and then dropped to 25% when he married Diana with the extra being kept to cover her costs. 

[Mike]

What is he paying now to cover Camilla's costs and where can this information be found?

[Eri]

^ Why Camilla in particular?  :lol: The man is paying for his 30 years old son's wife's EVERYTHING!!!

[Trudie]

When the same thing happens in the US, the money/assets/etc are claimed by the State.

Yes, but here the money/assets/etc don't go to an individual person.

Mike It doesn't go directly to Charles either it goes to the Duchy and his income is derived from the assets. Charles however it was pointed out donates part to charity and the rest is kept in escrow in case a long lost relative is discovered.

[Mike]

^ Why Camilla in particular?  :lol:

Because meme referred to Charles's first wife, while I referred to his second.

Mike It doesn't go directly to Charles either it goes to the Duchy and his income is derived from the assets. Charles however it was pointed out donates part to charity and the rest is kept in escrow in case a long lost relative is discovered.

I suppose, but it still sounds a bit strange to me.     :)   Thanks.

[Trudie]

^ True Mike it does sound strange but no stranger then here in the states where it goes to the state and heavens know how it is squandered by out governors and state legislators. At least part is given back to charity in Charles case and the rest kept just in case a long lost relative had a claim.

[Mike]

Yes, that's true.  If we knew how estates of the dearly departed were spent, we might march on the state house.      :P

[cinrit]

On the other hand, if they were our dearly departed, we could possibly put in a claim for the estate.  I suppose. :hmm:  Unless they were just a friend and not related at all.

Cindy

[good221]

^ Why Camilla in particular?  :lol: The man is paying for his 30 years old son's wife's EVERYTHING!!!

Yep i agree, that is what he deserved from not tightening the belt on his son, ask him and his lazy wife to feed for themself and grow up just like any normal parent tell their children's when they turn 16 and it is far to late for William at age 30 and wife going  to be 31 in 3months!!

[Windsor]

It is perfectly natural for unclaimed Estates to pass to the State. Given the Monarchy is the State, it makes perfect sense under our legal system for The Duchy of Cornwall or the Duchy of Lancaster to lay claim over such Estates.

[Ben]

I think it's a total injustice and morally wrong that Prince Charles should claim money and assets that don't belong to him. The Royal Family get enough of taxpayers money as it is, without robbing from the dead. In any credible democracy, the money would go to the government. Yet another reason why I detest the idea of the Royal Family. Century old laws keep Britain in the dark ages.

[Windsor]

At leas the Prince does well with that money, if given to the Government the money would most likely go to bailing out banks and/or paying the welfare bill of a few lazy gits!

[Ben]

What apart from the Prince's Trust does he do?

[Trudie]

^ Apparently you haven't kept up on Charles and his causes. :happy15: Charles apart from the Princes Trust has been a busy boy with supporting organic farmers and green living. But this article is very misleading as Charles doesn't collect on this money directly is goes to the Duchy which I believe is a trust controlled by trustee's this money as stated in the article is passed on to local charities and a small portion kept in escrow in case someone has a claim. I am no fan of Charles but in this instance I believe he is being unfairly treated. Charles income comes from investment and rents and he is not allowed to sell any assets the Duchy owns.

[Mike]

. . . if given to the Government the money would most likely go to bailing out banks and/or paying the welfare bill of a few lazy gits!

A few lazy what?  Speak English.  (joke)     :happy15:

[Ben]

Windsor

You come across as a man of stereotypes. How does claiming welfare necessarily make you a lazy git? I fully expect you to add on the word foreigners to that statement next being the right-wing EU bashing, middle England Daily Express reader that you are!

It's not Charles responsibility to create jobs or anything either. Surely that responsibility lies with the governments through the free market or the state?

[Windsor]

You come across as a man of stereotypes.

My family own a HMO, I deal with people on benefits almost on a daily basis - trust me, I know the ins and outs of their lifestyle, and most have never had a job, and will probably never have one! They will never fend for themselves, and will always expect freebies from the government in the form of housing benefit, income support, etc, etc... The vast majority of these people also for some reason apply and get disability benefits which is subsequently spent on smoking and drinking.

I fully expect you to add on the word foreigners to that statement next being the right-wing EU bashing, middle England Daily Express reader that you are!

The very few foreigners I have come across from my work either wrongly claim benefits and are therefore scamming the system or work. They are not necessarily lazy, though I would certainly be on the look out for scams, I have busted quite a few!  :wink:

EU bashing, middle England Daily Express reader that you are!

I don't read the Daily Express, nor do belong to this Middle England ideology you talk about.  :P

It's not Charles responsibility to create jobs or anything either. Surely that responsibility lies with the governments through the free market or the state?

We all have a responsibility to our country. No institution or individual has the responsibility to create jobs, that is a matter for all sectors within our economic system. My family for example has created several hundred jobs over the years in our locality and yet we are not the government, or anything like that. By your reasoning, we shouldn't have created these jobs, right?