The bulk of Princess Margaret's £7.6 million fortune is to be divided between her two children, Viscount Linley and Lady Sarah Chatto, it was announced on Tuesday.
The Princess also left personal bequests to friends and members of staff, but exact details of the legacies will not be disclosed. The Queen is not a beneficiary of the will. Viscount Linley’s office said that after payment of inheritance tax – which will amount to 40 per cent – the estate will amount to about £4.5 million.
Princess Margaret’s estate, which was largely inherited from her father King George VI, is believed to consist mainly of cash, investments and works of art. She lived in a large grace-and-favour apartment in Kensington Palace and her only other home on the Caribbean island of Mustique was handed over to her son several years ago. He sold it to an American millionaire soon after.
Viscount Linley and his wife Serena, who moved into Margaret’s home as the former society beauty’s health began to deteriorate, will now quit the apartment having dealt with her effects. No decision has yet been made on the future use of the flat.