Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

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Saturday, July 12, 2014

Lou Reed's Surprising Estate Planning Decision

Lou ReedAs I have previously discussed, Lou Reed’s estate is currently worth over $30 million and growing. What is even more surprising is that the successful singer-songwriter only used one estate planning tool. Reed distributed his entire estate through a will signed in 2012. By not using trusts and relying solely on a will, Reed's estate has been made an entirely public affair by going entirely through probate. A revocable living trust would have given his family privacy and saved them the costs and stress of the probate process.

See Danielle & Andy Mayoras, Lou Reed Walked on the Wild Side With Hs Estate Planning, Forbes, July 10, 2014.

http://lawprofessors.typepad.com/trusts_estates_prof/2014/07/lou-reeds-surprising-estate-planning-decision.html

Estate Planning - Generally, Non-Probate Assets, Trusts, Wills | Permalink

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