Liam Payne tragically died without all his affairs in order… So who’s left to manage his estate?
Seven months after the One Direction alum’s shocking and unexpected death, The US Sun has revealed an unfortunate situation: the singer died without writing a will, leaving the fate of his sizable fortune up in the air…
On Wednesday, the outlet reported Liam didn’t have any specifications for where his money should go or who should be in charge of it in the event of his death. And it’s a LOT of money. According to the outlet, Liam left £28,595,000, which converts to about $38,143,299 USD. Even after expenses and debts were paid off, the grand total was reduced to £24,280,000, or about $32,387,456 USD.
That’s a LOT of money to be left without direction… So it’s now left up to the court to grant control. So who will it be? Liam’s parents Geoff and Karen Payne? His sisters Nicola and Ruth? His girlfriend at the time of his death Kate Cassidy?
Well, none of the above, actually. The US Sun reports his ex Cheryl Tweedy has been granted power of administration over his funds alongside music lawyer Richard Bray.
It’s not clear what they have planned for it, but under the UK’s intestacy laws, which oversee estates of those who died without a will, there’s a high likelihood the millions will be placed in a trust for Liam and Cheryl’s 8-year-old son Bear, which has been a common belief for months.
The outlet also reported Liam’s GF Kate will not receive any of the funds as they were not legally bound.
What do YOU think of this decision, Perezcious readers? Is it the right move? Let us know in the comments down below!
[Images via Lia Toby/WENN]
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