Last October, the world was struck with the news of One Direction member Liam Payne’s passing. At the young age of just 31 years old, no one had expected the star to leave the world so early, with some questioning whether the star himself had prepared for the inevitable and where his assets might lie.
Passing away at a young age, the British singer did not leave behind a will. However, it’s now reported that Liam’s former partner, Cheryl Tweedy, will be in charge of his £24 million fortune. The Girls Aloud singer, mother to his son, Bear, will be legally responsible for his money, possessions, and property after being named administrator of his estate.
According to the letters of administration, the gross value of the estate amounts to £28.6 million (RM163.4 million) and, after debts and expenses are paid, amounts to £24.3 million (RM138.8 million). Reportedly, other than Cheryl, court documents showed the music industry lawyer, Richard Mark Bray, has also been given administrative duties, but both have limited authority and cannot distribute it.
Under the laws of intestacy in England and Wales, a person’s spouse and then their children will have first claim to the estate. In this case, 41-year-old Tweed, who was not legally married to Payne but is the mother to Bear, who is only 8 years old, could place the fortune in trust for the child in the future.
Neither Cheryl nor Liam’s family has spoken about the matter. On related news about Liam’s death, Argentinian courts have dropped charges against three of five people for criminal negligence in connection with the singer’s death.
Source: The Guardian
Alyssa Gabrielle contributed to this article
