We finally know exactly where all of Liam Payne’s money will be going nearly two years after his death.
It’s nearly unfathomable that October will mark two years since the One Direction alum died suddenly and tragically at the CasaSur Palermo Hotel in Buenos Aires, Argentina. As we previously reported, he left behind a massive estate without ever drafting up a will. Last year, Cheryl Cole was granted power of administration over his funds alongside music lawyer Richard Bray. For those who don’t know, Liam shares 9-year-old son Bear with Cheryl, whom he met on The X Factor in 2008.
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At the time, it wasn’t clear what Cheryl had planned for the funds, which amounted to about $32.2 million after debts were paid off, but we now know exactly where it will all be going.
According to court documents seen by People on Monday, Bear has been named the sole beneficiary of $29,007,998 from Liam’s estate. Per the filings, some of the lump sum will be accessible now, but the majority of it will be placed in a trust until the child turns 18.
This is exactly what Liam would have wanted! In a 2022 interview, the late singer memorably told Hello his fortune would someday go to his son:
“My life now is his, my money is his.”
What are your thoughts on this decision? Let us know in the comments down below.
[Images via Cheryl Cole/Instagram & Graham Finney/WENN]
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