Liam Payne’s Estate: A £24 Million Legacy for His Son
The tragic death of Liam Payne, a former member of the hit boyband One Direction, has left behind a staggering legacy of £24 million. The 31-year-old star, who died on October 16 last year, fell from a hotel balcony in Argentina after a drink-drug binge. According to court documents, Liam’s estate, valued at £28,595,000, was reduced to £24,280,000 after his expenses and debts were paid.
The Daily Mail reports that Liam granted the power of administration of his estate to his ex-partner, Cheryl Tweedy, the mother of his eight-year-old son Bear. This decision ensures that his son will be taken care of financially. Under UK rules of intestacy, it is likely that Liam’s fortune will be placed in trust for his son. This means that his girlfriend, Kate Cassidy, who had revealed their plans to marry shortly after his death, could receive nothing.
Cheryl, 41, was named alongside Richard Bray, a top music lawyer who has represented stars including Ed Sheeran, to administer Liam’s estate. This move suggests that Liam had made arrangements for his son’s future, despite struggling with drug and alcohol addictions.
A source close to the late star told the Daily Mail that Liam had some very sensible people around him for a time and he adored Bear so much. “He always wanted to do the right thing by him financially,” the source said. “It is a small consolation that Bear will never want for anything, that he will at least benefit from that.”
The Daily Mail also reports that Liam had invested in property, purchasing a £3.2 million five-bed Buckinghamshire mansion in 2021 to be close to his ex-partner and son. However, the property was put up for sale just a month before his death.
Liam’s girlfriend, Kate Cassidy, revealed that he had handed her a note before he died detailing plans for them to marry. She explained that the pair had written messages to each other as they dreamt of their future together. However, the absence of a will could mean that Kate Cassidy may be left with nothing.
The news of Liam’s estate comes as an investigation into his death continues. Five people have been charged over the singer’s death in Argentina, including the hotel’s manager, a receptionist, and a friend of Payne.
In a tribute to Liam, Cheryl said: “Liam was not only a pop star and celebrity, he was a son, a brother, an uncle, a dear friend and a father to our seven-year-old son. A son that now has to face the reality of never seeing his father again.”
Liam’s funeral in November in Buckinghamshire was attended by Cheryl and fellow One Direction stars Harry Styles, Zayn Malik, Niall Horan, and Louis Tomlinson, along with his family and friends.
The Daily Mail reports that Liam had relapsed and consumed alcohol and drugs on the night of his death. He was seen hanging around the hotel lobby, smashing up his laptop, and introducing himself to fans in the hours before his death.
In conclusion, Liam Payne’s legacy will ensure that his son, Bear, is taken care of financially. However, the absence of a will may leave his girlfriend, Kate Cassidy, with nothing. The investigation into Liam’s death continues, and his family and friends remember him as a talented musician and a devoted father.
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