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Official records have revealed that former One Direction star, Liam Payne, died intestate. This is a legal term that refers to dying without leaving a valid Will. In such cases, the estate is distributed according to strict statutory rules, regardless of the deceased's intentions.
In Liam’s situation, this means his reported £24 million estate will pass to his young son, Bear Payne. However, as Bear is under 18, the inheritance will be held in trust until he reaches adulthood. The administrators of the estate, Cheryl Tweedy and Richard Bray, have been appointed to manage the estate. Their authority, however, is currently limited, and they cannot yet make distributions.
This case illustrates the potential complications and unintended consequences that can arise when someone dies without a Will:
- No provision for others: Without a Will, only those who appear in the order of priority can inherit. Therefore, if Liam intended to provide for his girlfriend, other family members, friends or charities, intestacy laws do not take such wishes into account.
- Young beneficiaries: At age 18, many are not yet prepared to manage a large inheritance. A Will would have allowed Liam to specify an older age for Bear to inherit or set up tailored trust arrangements.
- Loss of control: The absence of a Will means Liam had no say in who would be responsible for managing his estate. Executors and trustees are instead appointed by the court.
This demonstrates the importance of making a Will. Like many young people, Liam likely did not think about making a Will, despite his large estate and having a young child. Liam’s case is a stark reminder that even young individuals should not delay making a Will. A properly drafted Will offers peace of mind, protects loved ones, and ensures that your wishes are respected.
Contact us
Here at George Green LLP, we have a dedicated and experienced Private Client team that can help you with making a Will, no matter how old you are. Managing your estate using our services can help you understand how having a Will can impact your estate and provide certainty for clients that should you die, your wishes will be followed and unintended consequences are avoided.
If you would like to discuss making a Will, please contact the Private Client team at George Green LLP on 01384 410410 or complete our online enquiry form.