Saturday, November 9, 2013
Lou Reed’s estate is staying in the family. Reed left a quarter of his estate to his sister, Margaret Reed Weiner, as well as a $500,000 bequest to care for his mother Toby. Reed’s wife, Laurie Anderson, will inherit everything else.
Reed had been battling liver disease and died on October 27 while practicing Tai Chi in his $1.5 million home in East Hampton, New York. Other assets Anderson will inherit include a Manhattan penthouse and all of his personal property.
Reed’s business manager, Robert Gotterer, and his accountant, David Gotterer, will look after the licensing and copyright for Reed’s music.
See Kirsty McCormack, ‘It All Stays in the Family’ Lou Reed Leaves 75 Percent of his Estate to Wife Laurie, Express, Nov. 5, 2013.