German-born British painter Lucian Freud has left almost £96 million in his will, the largest ever by any British artist, the Mail reported.

Freud, who died on 20 July, 2011 is regarded as one of the most revered artists in the world. His works are noted for their psychological penetration with his subjects ranging from Queen Elizabeth II of England to supermodel Kate Moss.

According to the Mail, the amount left by Freud in his will is a testimony to the record-breaking prices his works fetched before his death last year at the age of 88. The total far exceeds the £11 million left by his friend Francis Bacon, who died in 1992.

In 2008, Freud's portrait of an obese woman on a sofa titled "Benefits Supervisor Sleeping" fetched £20.6 million which was an auction record for a living artist. Earlier, in 2005, his painting "Red Haired Man on A Chair" fetched over £4 million at Christie's and two years later a portrait of his friend Bruce Bernard sold for £7.8 million.

The Mirror reported that Freud left his daughter Rose Pearce and lawyer Diana Rawstron in charge of most of his staggering estate, instructing them to dispose of his personal possessions within two years. He gave his assistant of more than 20 years David Dawson £2.5 million as well as the West London home where he painted many of his most famous works.

Freud is the grandson of famous psychoanalyst Sigmund Freud and was born in Germany in 1922. Although he was born in Germany, he moved with his family to St John's Wood, London, in 1933 to escape the rise of Nazism.

In 1939, Freud became a British subject and began studying at the Central School of Art in London and then at the East Anglian School of Painting and Drawing.

Freud's personal life has always been a matter of speculation and public interest as he has fourteen children, two from Freud's first marriage and 12 by various mistresses. The famous artist is believed to have fathered many more than he acknowledged.