Philippa’s Will, drawn up in Monte Carlo in 2009 by Me. Henry Rey, dealt only with her personal belongings—furniture, cash, clothing, works of art, and similar effects. Her two properties, along with a securities portfolio, were held by her foundation and therefore fell outside the scope of the Will. Nothing was found in Portugal.
A few days after Philippa’s death, Boy (FCS) called (an unusual occurrence to say the least) and told me that he had inherited Philippa’s furniture, with the remainder of her estate going to the Red Cross (see pp. 14–17).
This was not entirely accurate. In fact, the Société de la Croix Rouge Monegasque, as légataire universelle, inherited all of Philippa’s belongings after specific bequests had been distributed. These included sums of €50,000 and €100,000 (see below), as well as the furniture.
Only later did I realize that Boy had been referring exclusively to Philippa’s Monegasque Will, while omitting any mention of the Stiftung.
The exact value of Philippa’s Stiftung remains unknown, as it has been jointly managed by Industrie und Finanzkontor Etablissement (IFkE) and Seilern Investment Management Ltd. Its assets have been obscured through layers of Statuten and Bei-Statuten, with no independent oversight.
Its worth can only be estimated, and may lie somewhere between €10 and €20 million.
In light of this, and the secrecy surrounding Philippa’s estate, I felt it necessary to write to Boy before the matter came to affect the entire family.
Philippa’s MC Will drawn up in 2009.
See her signature on the last page.
Previous: Philippa's Life | Next: Breakdown and Management of Philippa’s Foundation