Latest news with #Charlene
Telegraph
2 days ago
- Business
- Telegraph
‘My wife and I have £700k pensions written in trust – can we dodge Labour's inheritance tax grab?'
Write to Pensions Doctor with your pension problem: pensionsdoctor@ Columns are published weekly. Dear Charlene, My wife and I both have Sipps (self-invested personal pensions) with a combined value of around £700,000. When they were set up over 20 years ago, the documents referred to how they are 'written in trust'. I understand that changes are because of inheritance tax rules from April 5 2027, but I'm now worried as our other assets already take us up to the inheritance tax allowances. We've given the pension providers details of who our preferred beneficiaries are upon death. But if we die after the changes in 2027, will both of our Sipp funds be subject to inheritance tax at 40pc? Or does the 'written in trust' have any relevance to the tax payable? We don't have a financial adviser. Many thanks, – Don Dear Don, Thank you for writing in. Your question is very timely, as the Government has just provided an update and the draft rules for how pensions and inheritance tax will work. At present, pensions are generally not included in the value of your estate when you die. For pensions written under trust (like your Sipps), the trustees and/or the scheme administrators have full discretion as to whom any death benefits are paid. It's very rare that nominations are not followed, but this discretion is currently what helps to keep pensions outside of estates and out of the clutches of inheritance tax. Unfortunately, the Government has confirmed its plans to include unused pensions in the value of an estate. As you've mentioned, the new rules would apply for deaths on or after April 6 2027. This is despite receiving hundreds of responses highlighting problems with the proposals and alternative ways to raise the same amount of tax revenue from pensions on death in a more straightforward way. Although your Sipps will continue to be trust-based pension schemes, and trustees should retain discretion over who can be paid death benefits, I'm afraid this will no longer exempt them from inheritance tax. The Government did announce an important change to the proposals – the executors or personal representatives of an estate will now be responsible in the first place for handling the reporting and payment of any inheritance tax on unused pensions, not the pension provider. This is consistent with non-pension assets, and could mean the tax can be settled from other accounts, but still undoubtedly adds to the burden on the bereaved. What will be included? The changes don't mean that all pensions suddenly get hit with 40pc tax. Whether any tax applies will depend on the value of your pension when you die, your other assets, and who you plan to leave them to. There will still be exemptions for dependents' pensions provided by defined benefit schemes (like those enjoyed by the public sector), survivors' pensions paid under an annuity and eligible lump sums paid to charities from unused pensions, including Sipps. Anything left to a surviving spouse or civil partner will also be exempt from inheritance tax, but this could mean potential tax is stored up until the date they pass away if they don't spend the funds in their lifetime. If you both plan to leave your respective assets (including Sipps) to each other, there will usually be no inheritance tax to pay on the first death. When the survivor passes away, their estate will be able to use both of your standard nil-rate bands (£325,000 each), and potentially both of your residence nil-rates bands (up to £175,000 each). This extra band is available to set against a residential property left to your direct descendants, but starts to be tapered away for estates worth more than £2m. Inheritance tax will apply above allowances and reliefs, usually at a rate of 40pc. This could be taken from the pension assets, or from other cash or assets held in the estate. It will be for the personal representatives of the estate and the beneficiaries to decide who pays and from where. What can I do if I'm concerned about inheritance tax? You've told me you don't have a financial adviser, but estate planning and tax can get very complex. A good financial planner will be able to talk you through possible strategies for making the most of your pensions and other savings in your lifetime and plans for when you are gone. They can also help you avoid costly mistakes of getting it wrong. It's likely that we will see more people spend more of their pensions on themselves in their lifetimes. But people often also ask me about giving money to others from their pensions. While you cannot directly gift your pension to another person, you can use withdrawals from it to fund gifts to loved ones. If it doesn't leave you short of funding your own retirement plans (or any care you might require), taking regular extra income to fund gifts could be a way of reducing your taxable estate and bringing forward some of the legacy gifts you might have in mind. After any tax-free cash allowance you have left, you'll pay income tax on the withdrawals and that might tip you into a higher income tax bracket. I've outlined the rules that can apply to making gifts in a previous letter, and explained how to make pension contributions now to your intended beneficiaries. The proposals will feel particularly unfair to older pensioners, who perhaps do not have as long left to reorganise their finances to minimise tax. It's unlikely they will be able to get insurance to help their loved ones meet the increased cost of any inheritance tax bill at a reasonable price either, although it might be an option for some people to consider. I'm afraid this is unlikely to be the positive answer you were hoping for, but I do hope it can help give you clarity and perhaps some next steps towards any plans or changes you might be considering. Best wishes, – Charlene Charlene Young is a pensions and savings expert at online investment platform AJ Bell. Her columns should not be taken as advice or as a personal recommendation, but as a starting point for readers to undertake their own further research.
News24
5 days ago
- Entertainment
- News24
Royal devotion – Princess Charlene and Prince Albert are more united than ever
It's the highlight of the Monaco social calendar, a soirée that oozes glitz and glamour while raking in cash for worthy causes. A seat at a table at Le Gala de la Croix Rouge – or the Red Cross Gala, if you don't speak French as the principality's Benoni-raised princess has learnt to do – will set you back €1,400 (about R29,400). But people do cough up – and this year there was something extra special for the guests to get excited about. Prince Albert II, the leader of the tiny enclave on the shores of the Mediterranean, was marking the 20th anniversary of his reign – and who better to honour him than his wife. READ MORE | SEE | Monaco royals celebrate 20th anniversary of Prince Albert's reign Her Serene Highness Princess Charlene, who was once looked down upon for not speaking French and struggled to be accepted by notoriously snobbish Monégasques, took to the stage to deliver a moving speech in the local lingo to the black-tie-and-ballgown crowd. 'Today marks exactly the 20th anniversary of your accession,' she told her husband, who was seated among 800 guests in the famed Monte-Carlo's Salle des Étoiles ballroom on 12 July. 'Twenty years ago, you took the reins of the principality, and since that day, you have guided Monaco with wisdom, courage and determination. Your wish for unity and serenity for Monaco has been your guideline.' Charlene (47) then added her own personal touch for her 67-year-old husband. 'Albert, you know I am always by your side, along with the Monégasques. We are standing with you with all our hearts to protect Monaco and its future under your leadership.' We love you, we support you and we thank you for being there for all of us Princess Charlene The former South African Olympic swimmer lived up to her style-queen credentials in an ethereal light-blue silk gown by Elie Saab paired with a dazzling diamond necklace. It was an outfit befitting the prestigious event, which has a history stretching back 70 years. From 1949 to 1958, Albert's father, Prince Rainier III, chaired the event, and from 1958 to 1982, the honour fell to his mother, Hollywood screen icon Grace Kelly – and thanks to her connections, it attracted acting royalty in the form of Elizabeth Taylor and Gregory Peck, and the likes of former US First Lady Jackie Onassis. Princess Grace's granddaughter, Camille Gottlieb, paid tribute to her in an Elisabetta Franchi dress similar to one the Oscar-winner wore in the 1954 Alfred Hitchcock movie Rear Window. 'This ball is an opportunity for us to come together around a cause that's dear to us and touches us deeply,' said Camille (27), who was there with her mom Princess Stéphanie (60) and brother Louis Ducruet (37). Following Charlene's speech, 10 members of the Prince's Carabinieri – Monaco's military guard – performed a moving version of the country's anthem, which saw a visibly touched Albert joining in. A few minutes before midnight, he officially opened the dance floor with his wife to Coldplay's Everglow, and the evening closed with a bang with a performance by veteran English rocker Billy Idol, who played over 10 of his biggest hits. For guests, it was a night to remember. 'The gala is one of the biggest drawcards in Monaco,' one said afterwards. 'And Albert's anniversary made it all the more special.' READ MORE | 'Breach of trust': New controversy rocks Monaco royals as former wealth manager claims tax fraud When Albert took over the principality after his father died, it was largely seen as a tax haven for the super-rich – a principality that lived up to writer William Somerset Maugham's description of it being 'a sunny place for shady people'. Rainier focused on transforming Monaco into an upmarket tourist destination, developing luxury hotels and glitzy casinos. He also ensured owning property in the principality came with stringent bank-account checks – you had to have a certain level of wealth to own a slice of this seaside pie. Things aren't all that different in that regard today – sports cars still line the streets, designer shops glitter on litter-free roads, and heaven help dog owners if their pooches relieve themselves anywhere other than fenced-off poo-parks. But Albert's vision is more encompassing than the financial success of his country. He's passionate about the environment and is the only head of state to have travelled to both the North and South Poles to highlight the dangers of global warming. He's deeply committed to the welfare of his countrymen and women and in his first year as ruler founded his Prince Albert of Monaco Foundation, a global non-profit organisation committed to preserving the health of the planet. In a recent interview, Albert said he wanted to ensure a future Monaco that's 'proud of its values and its past, serene, prosperous, responsible and united'. He likened leadership to sport. 'You can train very thoroughly and prepare for every scenario, but there are always unforeseen events – and you have to respond as best as possible. What drives me is my love for my country, my sense of duty and the trust the Monégasques place in me Prince Albert 'Governing means anticipating, but also facing challenges with loyalty and resolve. In Monaco's history, we've always found ways to secure our future – even in tough and uncertain times. If we stay united, enthusiastic, innovative and supportive, we'll have one of the happiest futures possible.' Part of that future are his 10-year-old twins Prince Jacques and Princess Gabriella with Charlene. And for Jacques, his son and heir, he hopes to 'hand down to him a principality that is neither quite the same nor entirely different'. Supporting Albert along the way is Charlene, who remains a steady rock by his side despite constant divorce rumours. On 2 July they celebrated their 14th wedding anniversary, an occasion marked by an Instagram post of the couple at the Formula One Grand Prix in Monaco earlier this year. The princess certainly seems to have put behind her annus horribilis of 2021, which saw her stuck in South Africa with ongoing medical issues and beset by rumours that her marriage was on the rocks. There was also speculation she wasn't happy in her role as princess, and felt ostracised and lonely in Monaco and longed to be back in South Africa. But these days, she and Albert seem more united than ever, and she appears to be throwing all her weight into helping him run Monaco instead of coming back regularly to SA. 'Charlene is emotionally more invested in Monaco now,' a source close to her told YOU. 'It appears she's far more comfortable now than ever in her role as princess.'
IOL News
5 days ago
- Entertainment
- IOL News
Princess Charlene's style transformation turns heads at Prince Albert's 20-year jubilee
Princess Charlene of Monaco dazzled in a vibrant pink lace gown by Oscar de la Rentaat Prince Albert II's 20-year jubilee. Image: Instagram Princess Charlene of Monaco embraced a more romantic and daring side of her style recently, stepping out in a vivid pink lace gown by Oscar de la Renta to mark Prince Albert II's 20 years on the throne. Her fashion-forward look stood out during the high-profile celebration at the Place du Palais, where Monaco's royals mingled with the public in a rare, emotive family gathering. While the House of Grimaldi showed up in full force, it was Charlene who dominated the style conversation. Her Barbie pink outfit, with its soft belt and asymmetrical floral lace hem, offered a masterclass in royal elegance. A far cry from the power suits she has often favoured, this look was a clear nod to her recent fashion evolution, and a bold embrace of femininity. The celebration came just days after Charlene surprised the principality with an emotional tribute to her husband, earning public praise for her renewed visibility and grace in royal duties. In a touching moment during the event, Prince Albert, known for his formal demeanour, showed rare public affection by embracing their son, Prince Jacques, and kissing Charlene after delivering a heartfelt speech. He thanked his family for their 'wonderful' contributions over the past two decades. While comparisons to Princess Grace are inevitable, Charlene has steadily carved out a modern identity of her own. Speaking to Tatler, she acknowledged that adapting to royal life, and its wardrobe, didn't happen overnight. 'As I spend more time in Monaco, I have developed an understanding of fashion. 'But coming into myself has taken time. Because I've got broad shoulders, clean, simple, elegant lines suit me best,' she said. Over the years, Charlene has balanced formality with individuality, evolving from streamlined silhouettes into more experimental, often softer pieces. This latest appearance not only reaffirms her growing comfort in the royal spotlight but also signals her increasing influence as a fashion figure within the European aristocracy. In true Monégasque style, the day was also filled with heartfelt public interactions. The Princess was seen cooing over a newborn baby in the crowd, sharing a gentle and very human moment that echoed her softer fashion choice. Charlene's style shift reflects a broader change in her royal role, from the reserved, sometimes distant figure of past years to a more confident, approachable presence at the heart of Monaco's royal family. IOL Lifestyle Get your news on the go, click here to join the IOL News WhatsApp channel.
The Irish Sun
6 days ago
- The Irish Sun
Mystery of missing woman with ‘dragon tattoo' who vanished after trip to Morrisons as cops fear she's been murdered
THE mystery of a missing woman with a dragon tattoo who was last seen a year ago today continues. A man has been rearrested and bailed in connection with the investigation into the disappearance of Advertisement 5 Charlene was last seen a year ago today, July 24 5 She has a distinctive dragon tattoo on her back that the public were asked to look out for Today marks exactly one year since A reward of up to £20,000 for information on the Charlene, from Cardiff, vanished after a trip to Morrisons, with CCTV from the store capturing her on July 23 last year. The last confirmed sighting of her was a mobile phone photograph taken the day after at a property in Broadway, Adamsdown. Advertisement Read more in News Charlene has a Two men, aged 45 and 43, and a 38-year-old woman, were arrested in connection with the investigation, but were released on bail pending further enquiries. The So far, the investigation into Charlene's disappearance has included ten media appeals, 400 people linked to the investigation spoken to, 629 properties visited, more than Advertisement Most read in The Sun Despite the desperate and tireless efforts of police, Charlene's disappearance remains a mystery. Cops Mystery swirls in hunt for missing woman who vanished after trip to Morrisons as cops share new CCTV A number of people contacted cops to say they Officers urged the unknown individuals and any potential witnesses to come forward at the time, they have today reissued their appeal for information. Advertisement On July 29 last year Witnesses claimed the mum may have been wearing a blue jacket when she was seen. 5 Charlene is a mother, sister and daughter Credit: South Wales Police 5 She was spotted on CCTV in a Morrisons in Cardiff Credit: South Wales Police Advertisement Nearly four months after she vanished, witnesses reported seeing She was allegedly spotted in the store on November 1 with a young boy who looked to be around four-years-old. Another woman, around 40, with short burgundy dyed hair, approached Advertisement Later a Nissan Micra was seized as part of the investigation into Charlene's disappearance. It was found in St Helen's Close, Abergavenny, on 29 October last year, the motor was originally red and largely painted black, but was found burnt-out. Detective Chief Inspector Matt Powell, from South Wales Police, said today: 'The investigation into the disappearance of Charlene is complex and meticulous. 'Despite a huge number of enquiries, which are continuing, unfortunately no one has come forward with information about Advertisement 'We remain committed to finding Charlene and a specialist team of officers and staff are focused on the investigation.' DCI Powell added: "Charlene is a mother, a sister, a daughter, and a friend to many. "We understand that this is an 'Charlene's family are supported by a family liaison officer, and we continue to communicate with them in line with their wishes, only to have contact when there is a significant development. Advertisement ' 5 Both of the last confirmed sightings of Charlene were in Cardiff
The Irish Sun
23-07-2025
- The Irish Sun
I'm a single mum-of-4 & found a 5-night caravan holiday for £22 – we had ‘private beach' access & saw seals for free
TAKING your family away on holiday can be expensive - but one savvy single mum shared how she did it for just £22 per person. Charlene Woracker, who has four children, revealed how she found a dream 5 Mum-of-four Charlene Woracker shared how she found a St Ives caravan holiday for £111 for five nights Credit: TikTok/@mummybudgets 5 She raved about St Ives for being affordable and fun for her children Credit: Getty On her She booked a Upon arrival, they set off to eat the famous She shared how her kids had loved exploring a beautiful little church as part of their free sightseeing day. More on family trips Charlene then took her kids to the The mum added: 'It was just us there on our own most of the time. It was like having a private beach.' She pointed out this was ideal for her family as her kids 'struggle with crowds.' Then it was time to see some very furry local residents - a population of seals. Most read in Fabulous Charlene shared: 'The kids really wanted to see the seals, a local told us how we could see them for free in their natural habitat. 'It was only a 15 minute walk up the cliffs and was such an amazing moment when we got to the top.' Hidden gem Scots caravan park with luxury hot tubs that's just five steps from the beach The mum then took her brood to visit mini amusement park there, they loved all the free activities nearby. The only thing she paid for was the Tate Modern, but loved seeing the local St Ives art. Charlene said she loved her bargain trip, and concluded: 'This trip made me appreciate how beautiful the uk is. Cornwall is definitely a hidden gem. 'The van was £111, food shop was £80 and extra expenses £60 so in total for all of us it was £250 going on holiday doesn't have to cost a fortune.' 5 She said she felt like she was abroad thanks to the gorgeous 'secluded' beaches Credit: TikTok/@mummybudgets 5 She also took her kids to see seals for free Credit: Getty 5 She said seeing the local seal population was 'amazing' for her family Credit: Getty CHARLENE'S MONEY TIP Many people were hugely impressed with her purse-friendly family trip, with her video racking up over 1,000 likes. One said: 'The price you paid is such a steal, I need to do my homework more when booking our caravan holidays.' Charlene advised: 'I find it cheaper to book closer to the date you're going away. "I always check prices they are always changing so just look out.' Another added: 'This sounds like a dream! What a lovely few days away!' Why caravan holidays are so underrated CARAVAN park holidays are a British staple. And with the cost of living crisis wreaking havoc on Britain's purses, more of us are turning to them for an affordable break. Josie O'Brien, Senior Digital Writer on Fabulous, weighs in on why she thinks caravan holidays are seriously underrated... WHEN I was a child, my mum used to collect the £9.50 holiday vouchers in The Sun. She'd use them to book a couple of nights away at a caravan park during the school holidays. As an adult, I fully appreciate the convenience of a humble caravan holiday. No faffing about with passports, no luggage limits and no bog-standard hotel breakfast of stale toast and grey eggs. I still love caravan holidays as an adult. In a world of doing everything for the 'gram, a caravan park brings you back to basics. There's no obligation to get dressed up, no stress to fit a million picturesque excursions in one week and I don't find myself flustered in tourist hot spots like abroad. I love going to coastal caravan parks and strolling along the beach parade. My highlight is always fresh mussels, ice-creams and classic pubs to grab an afternoon tipple in. And then, of course, there's the cost. Staying in a caravan is definitely way cheaper than my international trips. With no expensive hotel bills and the ability to cook my own meals, I'm spending hundreds less than I would abroad. I've had some of my best and most relaxing holidays in caravans. Maybe I'll buy my own one day.
