Off The Record
Liam Payne’s Estate Details Unveiled: £24M Inheritance For Son Bear, Girlfriend Excluded
As courts decide how to handle the late singer’s inheritance, One Direction frontman Liam Payne’s astounding final fortune has been made public.
After falling three stories from a hotel balcony in Buenos Aires, Argentina, Payne unexpectedly died in October. The ‘Strip That Down’ singer suffered ‘polytrauma’ from the 40-meter fall, including ‘internal and external haemorrhaging’ and’severe injuries which were incompatible with life,’ according to a later autopsy.
A month later, in Amersham, UK, he was buried with his family, including X Factor judge Simon Cowell, girlfriend Kate Cassidy, Girls’ Aloud singer Cheryl, who is the mother of his eight-year-old son Bear Payne, and former bandmates Harry Styles, Niall Horan, Louis Tomlinson, and Zayn Malik.
A court will now decide Payne’s estate’s destiny because it has come to light that he did not draft a will before passing away.
Payne left behind a total of £28,595,000, according to court documents that The Sun and MailOnline published. After all of his bills and debts were settled, the final amount was £24,280,000.
According to The Sun, 41-year-old singer Cheryl and her music lawyer Richard Bray have been given power of administration in the event that there is no will specifying what should be done with his money.
Who will inherit Liam Payne’s £24 million fortune?
In accordance with UK intestacy laws, surviving spouses or civil partners will get a deceased person’s assets first, then their children, according to Citizens’ Advice counsel.
Payne’s wealth will probably be put in a trust for his and Cheryl’s son because he was not legally married when he passed away. Since the two were not married at the time of his death, Cassidy does not have a legal claim to any of his money.
The 26-year-old Cassidy may be entitled to make a claim for a portion of the singer’s inheritance, according to Higgs LLP solicitor Craig Ridge. This is because it was previously alleged that Payne had covered the social media star’s monthly expenditures. But according to Page Six, she has no plans to lodge a claim.
In the meanwhile, Cassidy has been candid about the effects of Payne’s passing on her.
Cassidy talked about accepting her decision to leave Argentina in the days before his passing in an interview with The Sun. She clarified that she had come back to the US to care for the couple’s dog, Nala.
“I had a responsibility, we had a responsibility. We had our dog and obviously I never, ever thought this event would occur,” she said.
“I just never thought this would have happened, that it would turn out the way it did.”
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