Liam Payne's Ex Cheryl Cole Named Co-Administrator of His Estate After He Passed Without a Will
Context:
Liam Payne passed away unexpectedly last fall without a will, leading to the appointment of Cheryl Cole, his ex-partner and mother of his son, Bear, as co-administrator of his estate. The estate's gross value is approximately $38 million, but after accounting for debts and expenses, it is valued at around $32 million. Alongside Cheryl, attorney Richard Mark Bray has also been named as an administrator. English and Welsh laws prioritize spouses and children in the absence of a will, and since Bear is a minor, Cheryl was named in his stead. Cheryl expressed her grief and concern for Bear's future at Liam's funeral and on social media following his passing.
Dive Deeper:
Liam Payne's sudden death occurred last fall when he fell from a balcony, and he left no will to dictate the distribution of his assets.
Cheryl Cole, Liam's former partner and the mother of his son Bear, was appointed as a co-administrator of his estate, alongside attorney Richard Mark Bray.
The estate's gross value is reported to be $38 million, which reduces to $32 million after settling debts and expenses.
Under English and Welsh laws, the absence of a will means the deceased's spouse or children are prioritized for estate claims, and since Bear is a minor, Cheryl represents him.
There is potential for the estate's assets to be placed in a trust for Bear, ensuring his financial security as he grows up.
Cheryl publicly mourned Liam's death, attending his funeral in the UK and sharing heartfelt messages on social media about her fears regarding Bear's future.
The administrators of the late Liam Payne‘s estate have been named.
The singer unexpectedly passed away last fall after falling from a balcony, and it’s reported he died without a will in place.
Now, Rolling Stone reports that Liam‘s ex, and the mother of his son Bear, Cheryl Cole, has been named a co-administrator of his estate.
Keep reading to find out more…
Records obtained by the publication show that the gross value of his estate is about $38 million, but after debts and expenses, amounts to about $32 million.
In addition to Cheryl, attorney Richard Mark Bray was named an administrator.
English and Welsh laws, per The Guardian, state that if there is no will, a person’s spouse, then their children, have first claim to their estate. Because Bear is a minor, it makes sense that his mother would then be named in his place.
It is also possible that the assets could be placed in a trust for Bear.
Back in November, Cheryl paid her respects to her ex at his funeral in the UK. After news of Liam‘s passing, she shared an emotional message on social media, sharing her fears for Bear‘s future.