Liam Payne left a staggering £24million in his will that is set to go to his eight-year-old son Bear, with ex Cheryl Tweedy being granted the power of administrator
Cheryl Tweedy is set to “do the right thing” as she has been granted the power of administrator over the late Liam Payne’s fortune. The former One Direction singer tragically died aged 31 without a will in October last year.
He fell from a third-floor balcony during his stay at the CasaSur Palermo Hotel in Buenos Aires, Argentina. Liam, who shares eight-year-old son Bear with Cheryl, left a staggering £24.3million.
The singer had left behind £28.6million which, after expenses and debts were paid, went down to £24.3million. Following his death, Cheryl, 41, paid a devastating tribute to Liam as she described his death as an ” earth shattering event”.
According to court documents filed on May 1, music lawyer Richard Bray was also named as an administrator. Under UK rules, a person’s spouse is the first to claim any money following their death.
They are then followed by the deceased’s child. However, as Cheryl and Liam never married, the money will go to Bear with Cheryl looking after it until he is older.
It is unclear exactly how she will preserve the fortune, yet she is expected to put it into a trust for their young son. Friends of X Factor star Cheryl have said she just wants to do the right thing for her son, just like Liam also did.
“It is a small consolation that Bear will never want for anything, that he will at least benefit from 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,” a source close to Liam told Mail Online.
Other friends told the publication that the singer was adamant to make sure his only son would be well looked after in the event anything happened to him.
At the time of Liam’s death, Cheryl issued a devastating statement as she said: “As I try to navigate this earth shattering event, and work through my own grief at this indescribably painful time, I’d like to kindly remind everyone that we have lost a human being.
“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 7 year old son. A son that now has to face the reality of never seeing his father again.”
The chart-topping Girls Aloud singer went on to say: “What is troubling my spirit the most is that one day Bear will have access to the abhorrent reports and media exploitation we have seen in the past two days. It is breaking my heart further that I cannot protect him from that in his future.
“I am begging you to consider what use some of these reports are serving, other than to cause further harm to everyone left behind picking up the pieces.
“Before you leave comments or make videos, ask yourself if you would like your own child or family to read them. Please give Liam the little dignity he has left in the wake of his death to rest in some peace at last. Thank you, Cheryl.”
Liam and Cheryl welcomed Bear in 2017 but went their separate ways shortly after his first birthday. The pair remained committed to co-parenting, with Liam making sure his son was provided for.
Liam’s girlfriend at the time of his death, American model Kate Cassidy, won’t receive any inheritance from the star’s estate. Kate, who revealed plans she and Liam were to marry, was not mentioned in the legal documents.
However, the influencer didn’t appear to fazed as she shared a picture to her 900,000 followers on Instagram just hours later. Kate posted an image of the inside of her handbag, showing a sandwich from Starbucks and some hair extensions along with the light-hearted caption: “What’s in your purse??? Mine: starbucks and @glamseamless.”
Source: Mirror
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