Make a will news – Prince Charles’s estate receives funds from the intestate
However, under little known medieval laws, the unclaimed assets of anyone who dies intestate in Cornwall will go to Prince Charles’s Duchy of Cornwall estate.
The Telegraph reveals that in the last six years, more than £1 million has passed in this “bona vacantia” manner to the Prince’s estate, with £552,000 in the last financial year alone.
But, the Prince of Wales does not benefit from the funds as all such income, save for a small amount kept to cover any future claims on intestate wealth, is distributed to charities through the Duke of Cornwall’s Benevolent Fund.
The term bona vacantia comes from the Latin meaning “empty land” and highlights the fact that if a member of the public dies without making a will, their possessions and any assets such as land and property will go, in most cases, to the state.News