A sole beneficiary of Liam Payne’s massive fortune has finally been confirmed.
Citing the court documents, PEOPLE reported on Monday, June 22, that the former One Direction star’s nine-year-old son Bear – whom he shared with his singer ex-girlfriend Cheryl Cole – has been declared the sole beneficiary of the late singer’s multi-million dollar estate.
Since Bear is a minor and cannot legally manage millions of dollars, the court issued Letters of Administration, setting up a specific legal framework for the funds.
Under this arrangement, the vast majority of Liam Payne’s $29,007,998 fortune will be locked away in a legal trust, enduring that his son cannot freely access or spend the money until he turns 18.
To manage the estate during Bear’s minority, his mother, Cheryl, along with music industry lawyer Richard Bray, have been appointed as administrators. However, they do not have the authority to distribute the fortune.
While most of the funds will be kept in a trust until Bear turns 18, the court has allowed the estate’s administrators to use some of the money now, but it can only be spent on expenses that directly benefit Payne’s son, such as his education, housing, and everyday care.
As per court documents, Liam Payne’s estate in the UK was valued at around $38 million before expenses and debts, with a net value of about $32.2 million.
Under the country’s inheritance laws, when a person died without a will and has no spouse or civil partner, their children are usually the ones who inherit the estate.
For those unaware, the Night Changes hitmaker was dating influencer Kate Cassidy before his passing.
Who was Liam Payne?
Liam James Payne (born on August 29, 1993) was an English singer and songwriter and the member of the hit pop band One Direction, which also included Harry Styles, Zayn, Niall Horan, and Louis Tomlinson.
When did Liam Payne die?
Liam Payne died at the age of 31 on October 16, 2024, after falling from a third-floor hotel balcony at the Casa Sur hotel in Buenos Aires, Argentina.
His death caused widespread grief across the global music industry and among millions of One Direction fans.
Payne’s funeral marked the first time the One Direction stars – Zayn, Harry Styles, Niall Horan, and Louis Tomlinson – reunited following their “indefinite hiatus” in January 2016.
Liam Payne’s cause of death:
According to an official autopsy, Liam Payne’s official cause of death was reported as multiple traumatic injuries (polytrauma) and internal and external bleeding caused by the fall.
Toxicology reports also found substances including alcohol and drugs in his body at the time of his death.
Liam Payne and Cheryl Cole:
Liam Payne dated singer Cheryl Cole from 2016 to 2018 after meeting her for the first time at his first X Factor audition.
On March 22, 2017, they welcomed their first and only child, son Bear, and broke up a year later in 2018. However, the two remained close despite their breakup and jointly shared on social media that they “still have so much love for each other as a family.”
Liam Payne and Kate Cassidy:
From October 2022 until his death, Liam Payne was romantically involved with influencer Kate Cassidy, with whom he had travelled to Argentina in his final days to attend his former bandmate Niall Horan’s concert.
