King Charles III won't have to pay inheritance tax
King Charles will not have to pay inheritance tax on the Duchy of Lancaster estate he inherited from the Queen due to a rule allowing assets to be passed from one sovereign to another. Business Insider reported.
Charles automatically inherited the estate, the monarch's primary source of income, while his eldest son, Prince William, inherited the Duchy of Cornwall estate - valued at more than $1 billion - from his father. Business Insider reports.
A rule introduced in 1993 by the U.K. government safeguards the royal family's assets from being wiped out if two monarchs were to die in a short period of time, Business Insider reports. Axios is reporting.
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