Islamabad-Prince William and Prince Harry have agreed to divide the future proceeds of their mother’s memorial fund between their charities as they finalize details of their separate working lives, it has today been revealed.

An agreement between the Royal Foundation of the Duke and Duchess of Cambridge and the now abandoned Sussex Royal Foundation was signed in December last year, financial documents show.

It was agreed just under a month before the Duke and Duchess of Sussex announced they intended to step back as senior members of the royal family and become financially independent. In April 2013, the Royal Foundation charity assumed legal control of The Diana, Princess of Wales Memorial Fund to safeguard any future income upon the ending of its operations.

The fund is no longer actively fundraising, but it is understood to occasionally receive some legacies and donations, with the bulk of its money originally going to charities chosen by William and Harry.