Monday, September 22, 2014
Inquirer Daily News

Lou Reed leaves millions to his family

Music legend Lou Reed left an estate worth in excess of $30 million to his family, according to a report.

Lou Reed leaves millions to his family

Lou Reed performing live at ´Filmnaechte am Elbufer´ event series in Dresden, Germany.
Lou Reed performing live at 'Filmnaechte am Elbufer' event series in Dresden, Germany. WENN

Music legend Lou Reed left an estate worth in excess of $30 million to his family, according to a report.

The veteran rocker died in October at the age of 71 after a battle with liver disease, and court documents seen by editors of the New York Post show Reed's longtime manager, Robert Gotterer, has documented around $20 million in "money and other property" in his role as estate executor.

The sum reportedly does not include another $10 million which has been earmarked for Reed's heirs, as well as insurance policies and pension funds. The Perfect Day star left his wife Laurie Anderson two homes, a $7 million penthouse in New York City, and a $1.5 million house in the Hamptons, as well as jewelry, art, cars and boats. Reed also asked for $500,000 to be allocated for his elderly mother's care, while his sister Margaret Reed Weiner is set to receive $5 million.

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