Prince William and Prince Harry have agreed to split Diana's memorial fund proceeds

Prince William and Prince Harry have agreed to split the future proceeds from the Diana Princess of Wales Memorial Fund. It was set up to honour their late mother, who died in 1997, and while it no longer actively fundraises it still receives donations and legacies.

But according to financial documents, the Duke of Cambridge and the Duke of Sussex signed an agreement to split future proceeds late last year, just before Harry and Meghan Markle decided to step down as senior members of the royal family. This means that any money will be shared between William and Harry's chosen charities.

They were both part of the Royal Foundation charity, alongside Kate and Meghan, and in 2019 it received £21,346 from The Diana, Princess of Wales Memorial Fund.

But in June last year it was announced that the Sussexes would break away to form their own charity, the Sussex Royal Foundation. However, since their departure from royal life this has now been closed down and the brothers will split the proceeds.

'On 18 December 2019, an agreement was signed with the Sussex Royal Foundation by which The Royal Foundation intended to grant half of the net future proceeds received by the Diana Fund to Sussex Royal,' states the Royal Foundation's consolidated financial statements for 2019.

'In March 2020 The Duke and Duchess of Sussex announced that they would no longer be operating Sussex Royal as their primary philanthropic vehicle in the UK and accordingly their share of the net income will instead be donated to another charity of The Duke of Sussex’s choosing.'

It is believed that Harry could donate his portion to Sentebale, a charity he founded to support those living with HIV/Aids and in extreme poverty in Lesotho, Botswana and Malawi.