The Estate Of Queen Elizabeth II
Queen Elizabeth II passed away on September 8, 2022, at 96. She became queen at 25 and served as a sovereign queen for 70 years. This is the longest reign of any female head of state in history! Throughout her reign, there have been so many notable historical events. Her husband, Philip, of 73 years, passed away a year ago, and she has four children — Charles, Anne, Andrew, and Edward. Prince Charles ascends to the throne as King Charles III and inherits her throne and her entire personal fortune valued between $400 Million and $700 Million.
King Charles III inherits the following personal assets from his mother, the Queen:
- Balmoral Castle in Scotland (Queen Elizabeth II inherited from her father)
- Sandringham Estate in Norfolk, England (Queen Elizabeth II inherited from her father)
- Valuable stock portfolio
- Stamp collection
- Art collection
- Another 3,000 pieces of art (from father Prince Philip)
Not only will King Charles III inherit these assets and the throne, but he also will not need to pay any inheritance tax! Before this inheritance, King Charles III (as Prince) owned approximately $100 Million in assets.
King Charles III’s eldest son Prince William now takes on the title of Prince of Wales, notoriously designated the next in line to the throne.
Not Just For the Rich and Famous
An estate plan is not just for the rich and famous. An estate plan is important for anyone who wishes to protect their family, assets, and wishes after they are gone. In addition to providing security for your loved ones can also simplify your life by ensuring that your assets are distributed according to your wishes. A good estate plan can help reduce taxes, avoid probate and ensure that your loved ones are taken care of even after you have passed away.
Always On Your Mind
Getting caught up in life’s daily hustle and bustle is easy. But as we all know, life is unpredictable. That’s why taking time out of your busy schedule is important to ensure that your family will be taken care of in the event of your death. A solid estate plan protects you and your loved ones from financial ruin.
Keep Your Estate Plan Dynamic and Updated
Estate planning is not something you do once and forget about. It’s a process that requires constant upkeep as your family’s circumstances change. If you’re married, get divorced or remarried, have children or grandchildren, move to a new state or country, or simply change jobs or work locations, your estate plan needs updating to reflect these changes in your life.
Benefits of Using a Trust To Transfer Wealth
Most estate planning strategies are not designed for wealth owners who want to transfer their assets in a fair, flexible way that protects their loved ones.
The solution? The estate planning tool is known as a trust.
Trusts have been around for centuries, but they’ve become increasingly popular due to the proliferation of online services that make it easier to set one up.
Benefits of Using a Trust To Transfer Wealth:
- It helps protect your assets from creditors and lawsuits.
- It helps you avoid probate court if you die without a will or trust.
- It can provide income for life or until a certain event occurs (such as graduating from college).
- It can be used as part of an estate tax plan to maximize the money passed on to your heirs after death.
Here at Fleurinord Law, we will help you put the right Trust in place to hold your assets and ensure that it is funded properly throughout your lifetime, a service few other lawyers offer.
At Fleurinord Law PLLC, we make it a point not to just draft documents; we ensure you make educated and empowered decisions about your transition from life to death for yourself and the people you love. We offer a Family Legacy Planning Session. In preparation for this session, you will get more financially organized, which will help you make the best decisions to protect your assets. Call our office at 888-904-2297 today to schedule your initial discovery call and find out how to save $750!