Posted: Friday, 9 May 2025 @ 10:20
The One Direction singer died
after falling from a balcony in Argentina in 2024, however, he did not have a
valid Will in place. This means that:
- His estate (amounting to some
£24m after debts and expenses) will pass in its entirety to his son Bear, who
is under age 18.
- Bear cannot inherit fully
till he reaches age 18. Will he be able to cope at age 18 with such a large
inheritance?
- In the meantime, Liam’s estate
will have to be managed by Liam’s ‘Personal Representatives’ Cheryl Tweedy
(Bear’s mother) and lawyer Richard Mark Bray.
- None of his fortune will go
to Cheryl, or Liam’s family or friends, or any charities
- None of his fortune will go
to his girlfriend
Like many celebrities, he would have had a large team
of people giving him support and advice. It begs the question who handled his
legal affairs and how was he advised.
Without a valid Will, no-one knows what Liam’s actual
wishes would have been, or whether he would have liked to support Cheryl or
members of his family or anyone else. Even a simple will would have provided
structure, clarity, and some peace of mind.
The laws of Intestacy provide for a person’s estate to
be distributed in line with certain rules, however, these are very prescriptive
and are not necessarily what a person would have wanted.
Because Liam was not married to Cheryl, she will not
receive anything. Will Bear be able to handle things at age 18?
This case highlights the need for a valid Will, no matter
how wealthy a person is.
Question: what
action should you take?
As soon as a person has responsibilities for property,
children or other dependents, making a Will and other areas of Estate Planning
become vitally important.
IPW members are professionals who can help. For your
nearest IPW member go to our website www.ipw.org.uk. Don’t leave it to chance, act now.
It's never too early to make a Will, but it can be too late.
John Wilford,
IPW Council Member for Marketing