King Charles Accused of Profiting from Dead Citizens, Using Assets as “Free Money”

Accident – Death – Obituary News : Duchy of Lancaster Accused of Profiting from the Dead

King Charles has come under fire as claims emerge that his private estate, the Duchy of Lancaster, is using the assets of the deceased as a “slush fund.” Insiders allege that the estate’s property empire is treating these assets as “free money.” The Duchy of Lancaster has the authority to collect assets belonging to individuals who die without a will or next of kin within its jurisdiction, a practice known as “bona vacantia.”

Over the past decade, the Duchy of Lancaster has amassed over £60 million from these assets, which is then distributed to charities established by the late Queen. One of these charities is the Duchy of Lancaster Jubilee Trust, founded in 2001, which aims to support the preservation and maintenance of heritage assets for the public benefit.

However, internal documents obtained by The Guardian reportedly reveal that these funds are increasingly being used to finance the renovation of properties that are rented out for profit. The 2020 policy, titled SA9, states that funds can be used for the “public good” to repair, preserve, and protect duchy properties categorized as “heritage assets.”

The definition of heritage assets extends beyond listed buildings and includes properties in conservation areas, areas of outstanding national beauty (AONB), those of “local historical importance,” or of special scientific interest. According to The Guardian’s analysis, this policy allows the Duchy of Lancaster to spend bona vacantia on up to half of its extensive property portfolio.

Sources familiar with the Duchy’s expenditure have confirmed that revenues collected from the deceased are being used to refurbish the estate’s property portfolio. Insiders allegedly view the bona vacantia funds as “free money” and a “slush fund.” Properties eligible for funding include townhouses, holiday rentals, rural cottages, an old petrol station, and barns, including one used for partridge shoots in Yorkshire.

Documents refer to the conversion of an old farmhouse into a high-end residential rental and the conversion of a farm building into commercial offices. In some cases, the funds have been used to purchase log burners for properties owned by the king and rented out by the estate.

Critics argue that this practice aims to increase the profitability of rental properties, ultimately benefiting the king. In his first annual payout since inheriting the estate from the Queen, King Charles received £26 million from the Duchy.

The 2020 policy acknowledges that this expenditure could result in an “incidental” benefit to the king’s private income. It states that the primary purpose of the expenditure must be the preservation and protection of the property, with any benefit to the king’s private income being secondary.

A spokesperson for the Duchy of Lancaster stated that the balance of the bona vacantia funds is allocated to three charities: the Duchy of Lancaster Benevolent Fund, the Duke of Lancaster Housing Trust, and the Jubilee Trust. These charities were established by the late Queen, who decided that the income from bona vacantia should no longer benefit the Privy Purse.

Upon ascending the throne, King Charles reaffirmed that money from bona vacantia should not benefit the Privy Purse but should primarily support local communities, protect the sustainability and biodiversity of the land, and preserve public and historic properties across the Duchy of Lancaster estates. This includes the restoration and repair of qualifying buildings to protect them for future generations..