 Eight years before her death , she had reportedly placed two @-@ thirds of her money into trusts , for the benefit of her great @-@ grandchildren . She left the bulk of her estate , estimated to be worth £ 70 million , including paintings , Fabergé eggs , jewellery , and horses , to her surviving daughter , Queen Elizabeth II . As 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 , a tax liability estimated at £ 28 million ( 40 % of the value of the estate ) was not incurred . The most important pieces of art were transferred to the Royal Collection by Elizabeth II . 
