Update 1/18: The Queen and Buckingham Palace have issued a statement saying that Prince Harry and Meghan Markle have finalized their decision to step down from their royal duties. According to the Buckingham Palace announcement, Prince Harry and Meghan "will no longer receive public funding for their royal duties." The couple has also expressed interest in repaying "Sovereign Grant expenditures for the renovation of Frogmore Cottage, which remains the family home in England."

Prince Charles will continue to provide "personal funds" to the couple for the time being.

Original article Today, the Duke and Duchess of Sussex (opens in new tab) announced plans to "step down from the 'senior' members of the Royal Family and become financially independent": where will their funds come from if they are cut off from royal funds?

There have been jokes on Twitter that Meghan Markle will reprise the role she played in Suits (hey, they're probably moving to Canada, where Markle lived while filming Suits), but that's probably not going to happen. But this is a big change. Currently, the Sussexes are not earning an income. As explained on the official Sussex Royal page (opens in new tab), "The current structure and fundraising arrangements prohibit income generation in any form." This applies to charitable activities as well.

However, this does not apply to all royal families. Some, like Princess Beatrice (open in new tab), work or have worked in more traditional jobs that generate outside income. As the Royal Sussex website states, "There is precedent for this structure and it applies to other current members of the Royal Family who support the monarch and have full-time jobs separate from their commitment to the monarchy." This is the model the Sussexes are attempting to adopt.

"The Duke and Duchess of Sussex take great pride in their work and are committed to continuing their charitable work and establishing new activities. In addition, they value their ability to generate professional income, which is prohibited under the current structure," the Sussex Royal website explains. 'Their Royal Highnesses have therefore chosen to become financially independent members of the Royal Family. Their Royal Highnesses believe that this new approach will allow them to be financially independent and externally active in the future, while continuing to perform their duties for Her Majesty the Queen," it explains. The contribution from the Sovereign Grant covers only 5% of the Duke and Duchess' expenses, especially those of their official duties, and Their Royal Highnesses wish to break this financial tie"

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And this is the key element: "becoming financially independent" specifically seems to mean that the Duke and Duchess will no longer receive funds from the Sovereign Grant, which is granted by the British taxpayer. The Duke and Duchess will no longer receive Sovereign Grants, which "are the monarchy's annual funding mechanism covering the work of the Royal Family in supporting Her Majesty the Queen, including the costs of maintaining her official residence and workplaces. In this exchange, the Queen relinquishes revenue from the royal estate, and in return, some of these public funds are granted to the Sovereign/Queen for public expenditure.

However. As noted above, the Sovereign Grant covers only 5 percent of the Duke and Duchess' operating expenses, with the remaining 95 percent coming from the Duchy of Cornwall, which is run by Harry's father, Prince Charles. The Duchy of Cornwall is a private estate established by King Edward III in 1337. The official website of the Duchy of Cornwall states: "The income from the estate passes to His Royal Highness the Prince of Wales and the Duke of Cornwall, who chooses to fund public, charitable, private, and family activities. The official website of the Duchy of Cornwall states. The Duchy owns approximately 53,000 hectares of land in 23 counties, mostly in southwest England. The Duchy's main activity is the sustainable and commercial management of its land and properties. The principality also holds a financial investment portfolio."

So. The simple answer to how Prince Harry and Meghan Markle will continue to have an income is the Duchy of Cornwall. So far, there is no indication that Prince Charles will curtail funds used for "private and family activities" as applied to the Sussex couple.

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