The unexpected news of Liam Payne’s recent passing shocked the world. Liam was known for his early rise to fame in One Direction and his successful solo career. At the age of 31, Liam left behind a momentous legacy in the music industry, but also a significant financial estate – estimated at £24.3 million. It has recently been reported that Liam died without leaving a Will which was a shock to many.
Dying intestate means to die without a legally valid Will in place. Liam Payne’s estate will now be administered under the laws of intestacy. The laws of intestacy set out who is to inherit from an estate when the person that has died did not have a valid Will in place upon passing. Exactly who will inherit will be dependent upon the personal circumstance of the person that has passed away. In Liam’s case, which can be the case for many, the intestacy laws may not be reflective of Liam’s wishes or provisions that he would have put in place for his loved ones and close friends.
Liam leaves behind a young son, Bear, from his previous relationship with Cheryl. He was also in a committed relationship with his partner Kate Cassidy, and is survived by parents and several other close friends and family members. Due to the rules of intestacy, Liam’s son Bear will receive his full estate which will be held on Trust for him until he reaches the age of entitlement.
In addition to how Liam’s assets will be distributed, there are questions over who will administer Liam’s estate. Had a valid Will been in place, Liam would have selected Executors of his estate allowing him to control which individuals would manage his assets. It is reported that the Courts have issued a Limited Grant to his ex-partner Cheryl and music industry Lawyer Richard Bray. Perhaps Liam would have chosen different individuals to be the executors of his estate had he prepared his Will.
A Wake-Up Call for the Younger Generation
There is a common misconception that writing a Will is something to think about later on in life. For many individuals like myself in their 20s or 30s, it can feel irrelevant and morbid. Liam Payne’s story has served as a harrowing reminder: life is unpredictable, and death does not discriminate by age.
It is integral for everyone to consider writing a Will. Particularly if they have children, property owned solely or jointly, in an unmarried relationship, have savings or digital assets. Without any clear instructions drafted in a legally valid Will, your family members can find themselves embroiled in legal disputes. Unmarried couples may find themselves to be left with nothing in their partner’s estate, no matter the duration of the relationship. Children may also be left without the full protection and resources that their parents would have wanted for them.
Creating a will can bring peace of mind, knowing that if the unthinkable happens, your loved ones won’t be left guessing or fighting and your estate will be distributed in accordance with your wishes. Rather than it being distributed under the law of intestacy, which may not be in line with your wishes.
Liam’s story should not only be a reminder of a life lost too soon, but a call for action to the younger generation to prepare and protect their loved ones.
Contact Thorneycroft Solicitors
If you are interested in having a Will drafted, or reading this leaves you with further questions about writing a Will, please get in touch with our Private client team here at Thorneycroft Solicitors who will be happy to assist. Contact us today on 01625 503444 or email [email protected].
Written by Eden Fox, Trainee Solicitor in our Private client team.
