The fate of the late One Direction star Liam Payne’s multi-million dollar fortune has been revealed, with his eight-year-old son, Bear Grey Payne, set to inherit the substantial sum. This decision, dictated by UK intestacy laws as Payne tragically passed away on October 16, 2024, without a will, means his former girlfriend, Kate Cassidy, will not receive any part of his estimated $32 million estate.
Payne, who died at the age of 31 following a fall from a hotel balcony in Buenos Aires, Argentina, shared Bear with his former partner, singer Cheryl Cole. According to legal sources, since Payne had no spouse or civil partner at the time of his death, his only child is the sole legal heir to his estate.
Court documents have named Cheryl Cole, 41, and music industry lawyer Richard Mark Bray as co-administrators of Payne’s estate. While they will manage the funds, they have limited authority and cannot distribute them directly. It is understood that the substantial inheritance will be held in trust for Bear until he reaches an age where he can responsibly manage the wealth.
This news comes as a significant development for those close to the late singer. Payne had been in a relationship with American model and influencer Kate Cassidy for approximately two years prior to his untimely death. While reports indicate that Payne provided Cassidy with a monthly allowance and access to his credit card, she is not legally entitled to any portion of his estate.
Sources close to Cassidy have stated that she has her own independent income and is not financially reliant on Payne’s fortune. However, the emotional impact of losing her partner has been evident in her public statements and tributes.
Under UK law, in the absence of a will, the deceased’s children are prioritized as beneficiaries. This legal framework also means that Payne’s parents, Geoff and Karen, and his sisters, Nicola and Ruth, are not expected to inherit any part of his estate.
Cheryl Cole and Liam Payne were in a relationship from 2016 to 2018 and welcomed their son Bear in March 2017. Despite their separation, they maintained a co-parenting relationship.
The focus now shifts to the management of the significant inheritance for young Bear Payne. Reports suggest that Cheryl Cole intends to ensure the funds are protected and invested wisely until Bear is mature enough to make informed decisions about his financial future, with some sources indicating she may seek to delay his access to the full inheritance until he is in his mid-twenties.
The tragic passing of Liam Payne at a young age has undoubtedly left a void in the music world and in the lives of his loved ones. As his son Bear becomes the inheritor of his substantial fortune, the legal framework ensures that the focus remains on his well-being and future security.
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