Redmond Office Law Blog

Many of us will never understand the wealth that transfers between Royalty and despite the fact that many of us, when we turn 25, will not inherit income from a $22 million estate like Prince Harry, it is still important for families to plan for the wealth that they are passing to their children.  In September 2009, Prince Harry turned 25 not only making him an eligible bachelor, but also entitling him to part of the inheritance from his mother Princess Dianna.  From his inheritance, he will receive all of the income until he turns age 30.  His brother William is currently 27 and has already been receiving his income. 

When deciding how much a child is to receive it is important to look at your net worth to determine how much income would be generated from it if it was invested after your death and whether or not the income and principal would be more than a child is capable of handling at a young age.  A young age for each child is subject to review as each child matures differently.  Even at age 30 many children are not mature enough to handle $1 million let alone $22 million.