Sunday, June 17, 2007

How the Crown Rewrote Diana's Will

From a story in the U.K.'s Telegraph:
In her original will, drawn up in 1993, the princess [Diana] had stipulated that both princes would be entitled to their entire share of the capital on reaching 25.

But details of the will were changed by a variation order granted by the High Court on Dec 19 1997 - three months after her premature death in a Paris car crash. In a highly unusual move, the executors made both her original will and the new one public.

The key changes, which were designed to protect the young princes, included a clause that raised the age at which they could ask for the capital in full to 30.

The changes also ensured that the princes were only allowed small amounts of the income - the interest accrued - at the discretion of the trustees before their 25th birthdays. But, on reaching 25, both could receive the full amount of income without any restraint from the trustees.

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