Liam Payne’s son Bear, 9, to be the sole beneficiary of his estate with protective clause in place
In the wake of Liam Payne's tragic death, a court has ruled that his young son, Bear, will be the sole beneficiary of his estate.
Former One Direction star Payne tragically died in October 2024 after he suffered a fatal fall from a balcony at the CasaSur Palermo Hotel in Buenos Aires, Argentina.
It was revealed that the star didn't have a will in place, leaving his $29 million estate unaccounted for.
According to People, a court has now declared that Payne's $29,007,998 (£21,926,420) estate will be awarded to his 9-year-old son.
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An amount will be made available to him now to pay for his upbringing, but the bulk of the money will be held in a trust until the youngster turns 18.
Bear was born on March 22 2017, and Payne shared him with his ex, Cheryl Cole.
Payne announced the birth of the baby boy with a sweet Instagram post at the time, writing: "I'm incredibly happy to welcome our new baby boy into the world, it's a moment that I will never forget for the rest of my life and my favourite memory I have so far."
"I'm completely in awe of his incredible mother and how she has been the whole way through this, she's really made my dreams come true."
Last year, Cole was named as an administrator of Payne’s estate alongside attorney Richard Mark Bray.
At the time, his estate was reported to be worth $38million (£28.72million).
NME reports that in the UK, estates are usually given to the deceased’s lawful spouse, or to their nearest blood relative if they were unmarried.
The BBC claims that Bray and Cheryl will 'manage the money' but have 'limited authority and cannot distribute it', and that it is normal for children to inherit an estate if there is no living husband, wife or civil partner.
Cole and Payne never married.
According to probate documents seen by the BBC and People, Payne's total gross value of his estate was £28.6m, but was reduced to £24.3m when any debts and expenses were deducted.
Cheryl and Bray are going to be allowed 'power to preserve the deceased's estate until a general grant is made'.
Earlier this year, chargers were dropped against three out of the five people who had been charged in connection with Payne's death.
Payne had previously opened up about being a 'young dad' to People, and said he had a lot to learn.
"I had my son at a young age, and you think it will be a magical thing, that you're going to grow up one day into the person you're supposed to be, but it took a lot to find my footing. I figured, Dad takes care of everyone, that's what he does, so my thing was to cook."
Topics: Liam Payne, Cheryl, Music, Celebrity
Jen Thomas