What will happen to Liam Payne's $32 million fortune after he died without a will?
Liam Payne passed away without a will, and official documents showed that he's leaving behind money, property, and possessions worth over $32 million. Now, what will happen to his fortune?
According to a report by PEOPLE Magazine, the late singer's former partner Cheryl—with whom he shares a son named Bear—as well as his lawyer Richard Mark Bray have been officially named as the administrators of his estate totaling $32.2 million (PhP1.7 billion).
Citing court records, the media publication reported that his estate in the United Kingdom has a gross value of $38 million (PhP2.1 billion), though the net value is at $32.2 million.
BBC News reported that the administrators will manage the money but they will have "limited authority" over it. It also noted that they are not permitted to distribute it.
"If someone dies without making a will, the rules say any children will normally inherit their estate if there is no living husband, wife or civil partner," per the media outlet.
Cheryl began dating Liam, whom she first met when he joined The X Factor, sometime in 2016. She gave birth to their son the following year, but the two of them ended their relationship in 2018.
Payne fell to his death from his third-floor balcony on Oct. 16. He was 31.
TMZ reported that CCTV footage showed that the late singer was seemingly trying to get out of the Buenos Aires hotel when he died. It's presumed that he "was trying to get from the third floor balcony to the second floor balcony, and then jump a short distance to the ground," the media outlet reported, adding that Payne had used the "balcony escape plan" in the past, with the most recent one in September when he was suspected to have been on a "drug binge."
His body was delivered to his father, Geoff Payne, in November after an autopsy report, including several toxicology tests, showed Payne had traces of alcohol, cocaine, and a prescription antidepressant in his system in the moments before his passing. The official cause of his death was confirmed as polytrauma.
His funeral was held on Nov. 20 at St. Mary's Church in Amersham, Buckinghamshire. Cheryl was there, as well as Kate Cassidy—Payne's girlfriend at the time of his passing.
