How Cheryl will safeguard Liam Payne's £24million fortune left to son Bear
Cheryl is set to “do the right thing” for her and Liam Payne’s eight-year-old son Bear after it was revealed he is set to inherit the late pop star’s fortune.
The former One Directiom star had left behind £28.6million which, after expenses and debts were paid, went down to £24.3million. However, he didn’t make a will before his passing.
According to court documents filed on May 1, in addition to Cheryl, music lawyer Richard Bray was also named as an administrator.
Under UK rules, a person's spouse is the first to claim any money following their death, followed by the deceased's child. As Payne and the Girls Aloud singer never married, the money will go to Bear with Cheryl looking after it until he is older.
While she has made no comment on the matter, it is expected she will put it into a trust for the youngster.
"It is a small consolation that Bear will never want for anything, that he will at least benefit from that. Liam had some very sensible people around him for a time and he adored Bear so much. He always wanted to do the right thing by him financially," a source close to Liam told Mail Online.
Other friends told the publication that the Strip That Down hitmaker had been determined to make sure his only son would be well looked after in the event anything happened to him.
Issuing a statement at the time of his death, Cheryl said: "As I try to navigate this earth shattering event, and work through my own grief at this indescribably painful time, I'd like to kindly remind everyone that we have lost a human being.
"Liam was not only a pop star and celebrity, he was a son, a brother, an uncle, a dear friend and a father to our 7 year old son. A son that now has to face the reality of never seeing his father again."
She continued: "What is troubling my spirit the most is that one day Bear will have access to the abhorrent reports and media exploitation we have seen in the past two days. It is breaking my heart further that I cannot protect him from that in his future.
"I am begging you to consider what use some of these reports are serving, other than to cause further harm to everyone left behind picking up the pieces.
"Before you leave comments or make videos, ask yourself if you would like your own child or family to read them. Please give Liam the little dignity he has left in the wake of his death to rest in some peace at last. Thank you, Cheryl.”