While Prince William inherited his share already, Prince Harry is set to inherit a sum of ten million pounds (the equivalent to eighteen million dollars) on his thirtieth birthday this September. As it stands, 40% of this will immediately go to taxes due to the inheritance tax. Although experts claim there is no way to ‘dodge’ this tax, it can be reduced if some of the money is given to charity. While most of us will never face the issues associated with such large inheritances being taxed, it is important to consider these obstacles when drafting a will, or when inheriting from one.
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