Penny wise

London, June 18: Prince William’s finances will receive a major boost on his 25th birthday this week when he becomes legally entitled to the income accrued on the £6.5 million left to him in his mother’s will.

The second in line to the throne, who celebrates his birthday on Thursday, will have unrestricted access to between £250,000 and £300,000 a year, investment experts estimate.

But aides have indicated that the level-headed prince does not intend to touch the money, though it is there for him should he require it.

Diana, Princess of Wales left a net estate of £12,966,022 after inheritance tax of £8,502,330 was deducted. Her estate comprised stocks and shares, jewellery, cash from her £17 million divorce settlement, dresses and other personal belongings at her Kensington Palace apartment.

She stipulated that it would be held in trust to be shared equally between her two sons, even though Prince William will inherit income from the Duchy of Cornwall estate when he becomes Prince of Wales.

With wise investment by the trustees, fund experts expect the amount in the trust to have grown to between £8 million and £10 million. Prince William will now be entitled to the full income on his half share.