Duchy of Lancaster Theft

[Roussette]

Just when I thought I could not be more taken aback at some of the practices undertaken by our Monarchy, and the sheer greed.

I then read this article. Bottom line.... anyone who dies intestate in Lancashire, and parts of Merseyside, Grtr Manchester, Cheshire and Cumbria... their assets are scooped up by the Duchy of Lancaster who has collected more than £60M over the last 10 years. Not charity as is the norm.. but into the pocket of our King You need to read the article to see what he actually does with it and how it benefits his personal income.

The article explains it well and will answer any questions and queries about it.

Someone yesterday accused me of 'despising' the RF. I disagreed but I am beginning to wonder if that poster was right. Especially when I read something like this.

https://www.theguardian.com/uk-news/2023/nov/23/revealed-king-charles-secretly-profiting-from-the-assets-of-dead-citizens?CMP=Share_AndroidApp_Other

@Roussette no to derail but didn’t true queen have lots of money offshore ( paradise papers ) and in Brighthouse ( the white goods company known for charging high interest to the poor)

You said this, whilst omitting the fact it is now 5.25%. That's all. It's important.

And, you said the interest paid on that to the Duchy would be enormous whilst omitting the fact, that you now clarify you knew, that from 2008 to 2022 it was tiny. That’s all. It’s also important.

@Novella4 Yes absolutely. The Paradise papers revealed this.

Touché 🤣

I just didn't need pretty pictures to explain about the interest rate to me!

Well it seems that Charles et al are not happy with the scutiny

@Serenster - all that work you’ve put in justifying and explaining to we thickos and Charles has conceded that he needs to act ! Could you maybe send him some links ? It looks as though they are worried about what the pesky public might think of them

https://www.theguardian.com/uk-news/2023/nov/25/kings-estate-transfer-cash-ethical-funds-bona-vacantia-revelations

@Serenster - all that work you’ve put in justifying and explaining to we thickos and Charles has conceded that he needs to act ! Could you maybe send him some links ? It looks as though they are worried about what the pesky public might think of them

As I stated upthread, Novella, I said that (as everyone I think on this thread has agreed with) that the problem is with the Duchy of Lancaster, not Cornwall?Charles was the Duke of Cornwall for decades and in that time set up a system that transparently does pay this money to local charities.

I also said that he’s only been the Duke of Lancaster since September last year, and so probably hasn’t had a chance to bring in reforms there yet. I’m very pleased to see him confirm he will do so, though. 😀

I’m sure the good work at the guardian has hurried things along nicely

from the article re the ‘royals ‘ claiming the bona vacantia money went to charity :

The Duchy of Lancaster’s announcement of a similar policy comes amid growing questions for the royal estate which has long claimed that bona vacantia proceeds go to charity after costs are deducted. In a shift in language, it now concedes funds are additionally spent on “restoration and repair” of qualifying buildings on the estate.
Leaked documents reveal properties deemed eligible for the funds include a suite of properties rented out to raise profit for the king, including holiday lets, farmhouses, a barn on a shooting range and a petrol station.

Ironic timing on the transfer to ethical funds, and as with the Queen's tax arrangements after the Windsor fire we'll doubtless be told it was all intended anyway

On the subject of donating the bona vacantia money to charity though - and just to confuse the matter further - I wonder how many of the private properties are held in some sort of charitable trust?
Given the RF's infamous use of smoke and mirrors it doesn't take much imagination to see how they could use this to bolster the claim of it going to "good causes" ... only this time their own

Absolutely

And I don’t believe for one minute that Charles wasn’t effectively running Lancaster for years . Just as he ran every thing else in the queens latter years .
Just like Elizabeth, keep a tight hold on your money until you absolutely must concede some pittance i tue face of public opinion

The Duchies complying fully with their legal obligations as a trustee by law is summed up like this.

But the properties don't go into trust. The duchy is free to allocate the funds as it wishes (as we've seen) and benefits from interest on the reserved funds.

Even at ultra low interest rates they're generating something although it's yet another sum we have no details for.

It’s Duchy employees paid for by the Duchy, that does all the work in their areas. So they are actually taking an administrative burden off the taxpayer

Oh and thanks for this comic gem. It's brightened my day enormously 😂

no they take costs out of the amount that they claim, they're not paying for any of those costs themselves. theres no burden they're taking off us, they make a profit off it or they wouldn't do it.

This is why I don’t find the arguments of the republicans on this thread remotely persuasive. If you strip away the pejorative and the emotion and look more analytically at the things you are criticising, I’d find that a lot more compelling. Throwing mud without insight? Not for me, thanks.

I don't find your 'arguments' and minimising of this remotely persuasive either. You've been nocking posters on this thread, amused by us apparently, not for me thanks! I think its rude!

Even at ultra low interest rates they're generating something although it's yet another sum we have no details for.

We do actually - in the 2021 financial year the Duchy of Lancaster earned £505 in interest income on bona vacantia - see this annex to their financial statements which sets it out.

(I dont understand why people cast around accusations of a lack of transparency without ever checking it?)

There been no suggestion from the king’s estate that it plans to cease collecting bona vacantia or change how it is spent.

I’m very pleased to see him confirm he will do so, though. 😀

He hasn't though.

no they take costs out of the amount that they claim, they're not paying for any of those costs themselves. theres no burden they're taking off us, they make a profit off it or they wouldn't do it.

They recoup the out of pocket costs out of the estates, yes, but they still have to pay their staff’s wages, their NI contributions, their benefits, provide them with offices and computer equipment and all the other overheads associated with having employees.

If the Duchy of Lancaster and Cornwall didn’t perform this role the Treasury Solicitor (which also recoups its out of pocket costs, by the way) would need to hire more people - that’s the bottom line.

Clearly under pressure Charles has said the investments that he makes I’m using the money collected from the dead , will be moved into ‘ethical investments’
How very coincidental that it is announced now .
He could have done it before the queen died ( advising her) or on the day he was king but he does it after days of outrage .
But yes nothing else will change

Unless the outrage continues of course

We do actually - in the 2021 financial year the Duchy of Lancaster earned £505 in interest income on bona vacantia - see this annex to their financial statements which sets it out.

That's for the whole lot, not the reserves.

And how did they manage to generate just £500 quid on £10m?!

That's quite an achievement even at bottomed out rates.

They recoup the out of pocket costs out of the estates, yes, but they still have to pay their staff’s wages, their NI contributions, their benefits, provide them with offices and computer equipment and all the other overheads associated with having employees.

They have those costs anyway. Costs of recovering these assets are taken out of the money they collect. Do you have any details on staff wages that indicate they pay for them to collect these funds? You're really reaching to try and make this look like they are doing us a favour by taking even roe public money.

They recoup the out of pocket costs out of the estates, yes, but they still have to pay their staff’s wages, their NI contributions, their benefits, provide them with offices and computer equipment and all the other overheads associated with having employees

Crumbs! Really? So... whilst they take the costs of administering this out of a deceased person's estate, we have to think they are noble for paying staff?

I am gobsmacked that all his investments aren't in ethical funds. Seriously? Even my DD (in between houses, sold one, hadn't bought the next one) was absolutely adamant where the equity from her house would go.. it had to be ethical, not related to anything she doesn't agree with.

I thought more of Charles to be honest.

This article you linked is just a sop. To shut the people up.

the announcement you linked is just about the type of investment funds.

Duchy if Lancaster will still collect these assets and they have not indicated they'll be changing how they spend it.

The fact the late Queen used this money for her own private assets and investments, which then go on to benefit Charles and William, is another example of her greed. Time will tell if Charles is as greedy as his mother. So far, he is.

they use a law firm to search and collect this money, so I am not sure its accurate to state that they pay the staff wages of those who do this work. It says that all costs are taken from the collected assets.

Even worse! So they invest the money to accrue interest (we have no idea yet if that is added to the dead persons estate or kept by the Duchy, it appears it is kept by the Duchy), then they employ a law firm to track down deceased person's rellies, if there are any, then they take those costs out of the deceased person's estate and if no one turns up, keep the rest. 😲

I am gobsmacked at the justification for this on this thread to be honest.