Queen Elizabeth The Queen Mother bulk of her estate, estimated to be worth between £50 and £70 million, including paintings, Fabergé eggs, jewellery, and horses, to her surviving daughter, Queen Elizabeth II. Under an agreement reached in 1993, property passing from monarch to monarch is exempt from inheritance tax, as is property passing from the consort of a former monarch to the current monarch, so a tax liability estimated at £28 million (40 percent of the value of the estate) was not incurred. The most important pieces of art were transferred to the Royal Collection by Elizabeth II. Following her death, the Queen successfully applied
Queen Elizabeth II Diamond Jubilee Medal and is circumscribed by the inscription "ELIZABETH II DEI GRATIA REGINA FID DEF" (Latin for "Elizabeth II by the Grace of God, Queen, Defender of the Faith"). The reverse shows a faceted hexagon with a crowned royal cipher, inscribed with the years 1952 and 2012. Eight Commonwealth realms in the Caribbean—Antigua and Barbuda, The Bahamas, Barbados, Grenada, Jamaica, Saint Kitts and Nevis, Saint Lucia, and Saint Vincent and the Grenadines—have each issued a Diamond Jubilee medal. The obverse bears the same effigy of the Queen as does the British medal circumscribed by the words "DIAMOND JUBILEE HM QUEEN ELIZABETH II".