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 Silver Jubilee Medal of a diameter silver disc with, on the obverse, the words "ELIZABETH II DEI GRA. REGINA FID. DEF." (Latin abbreviation for "Elizabeth II, by the Grace of God, Queen, Defender of the Faith") surrounding an effigy of Queen Elizabeth II, symbolising her role as fount of honour. On the reverse is a crown atop a wreath that contains the words "THE 25th YEAR OF THE REIGN OF QUEEN ELIZABETH II 6 February 1977" in six lines. The Canadian version was identical, except that the medal was slightly thicker, the crown on the Queen's effigy was more upright, and the reverse