Liam Payne, the former One Direction star who tragically passed away last year, has left behind a £24.3 million fortune, according to newly released court documents.
The 31-year-old singer died unexpectedly on October 16, 2024, after falling from the third-floor balcony of the CasaSur Palermo Hotel in Buenos Aires, Argentina. His sudden death sent shockwaves through fans and the music industry alike.
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Due to the unexpected nature of his passing, Payne did not leave behind a will detailing how his estate should be divided. In the absence of formal instructions, the court has confirmed that his assets have been placed in a trust for his eight-year-old son, Bear, whom he shared with ex-partner Cheryl Cole.
Cole, 41, has since been granted power of administration over Payne’s estate. However, reports suggest that she is not ready to transfer control of the inheritance to Bear at such a young age. Instead, she is working closely with trustees to delay the handover until Bear turns 25, as told to The Guardian.
Sources close to the Girls Aloud singer say her decision stems from a desire to ensure her son is emotionally and mentally mature enough to manage such a large sum responsibly.
“She feels she wants Bear to be of an age where he can make informed decisions about the money,” the insider explained. “She wants him to still have ambition and the drive to succeed without the back-up of the money, and she’s aware that people may want to befriend him because they are aware of his situation,” reported Daily Mail.
Payne and Cole began dating in 2016 and welcomed Bear in March 2017. The couple ended their relationship amicably in 2018 but continued to co-parent their son privately.
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Payne, who rose to fame as a member of the globally successful boy band One Direction, enjoyed a successful solo career following the group’s hiatus. He remained active in music, fashion, and charity work until his untimely death.
The news of the inheritance arrangement has sparked a wave of support for Cheryl Cole’s decision to prioritize her son’s long-term well-being over immediate access to wealth. Many have praised her efforts to ensure Bear remains grounded despite the immense legacy left by his father.
As the legal process continues, Payne’s estate will remain in trust, with Cole overseeing the financial and legal responsibilities until Bear reaches the age deemed appropriate for full control of his inheritance.
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