Why Prince Harry won’t share his fortune with Meghan Markle
They’re months away from vowing to love each other for richer or poorer, but when it comes to Prince Harry’s fortune after his wedding to Meghan Markle, it seems his wealth will stay firmly in his name.
With Time estimating the prince’s fortune at $30 million, experts say there’s a reason the royal won’t be sharing everything with his new wife.
While the former Suits star is no slouch in the cash department with an estimated $6.4 million to her name, there’s a very clever reason why Harry will be protective of his own money.
Prince Harry’s fortune is set to stay in his name, say experts.
According to royal expert Marlene Koenig it’s all to do with Meghan’s American citizenship.
“Even when married to a member of the British royal family, as long as she remains a US citizen she will have to pay income tax,” Marlene told the Sun.
“This is even on money earned outside the United States. If she receives money from her husband or his family, and that’s considered income, she would have to pay income tax on that.”
Meghan has millions in the bank thanks to her stint on hit show ‘Suits’.
If Meghan’s assets exceed $US 300,000 in a tax year, she will be required to file a form with the US tax office to reveal the detail of these assets. If this money comes from royal sources, it could see details of the family’s estate being disclosed.
Money isn’t set to be an issue for either of the couple though.
With millions between them, the couple are set to live a life of luxury.
According to Newsweek, Prince Harry is thought to have inherited $20 million from his late mother, Princess Diana on his 30th birthday, as well as an inheritance from the Queen Mother.
He also received a $67,000 a year salary during his 10-year stint in the British Army, and has his royal expenses paid for by the Duchy of Cornwall, Prince Charles’ private estate.
Source: nz news yahoo com
Tags: Prince Harry, Meghan Markle, Royals, British Royal