Wills, Trusts & Estates Prof Blog

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

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Tuesday, September 2, 2014

Lou Reed’s Executors Request Surprisingly Low Payment

Lou ReedAs I have previously discussed, the estate of Velvet Underground singer Lou Reed has increased to $20 million since his death last year and is now worth $30 million. Compared to executors of other famous estates, Reed’s executors will be paid a small sum for fees, as they are requesting a total of $220,000. In contrast, the executors for Michael Jackson’s estate are being paid 10 percent, which results in a huge sum considering just one business deal of the estate with Sony was for $250 million.

See Bonnie Kraham, Trusts Can Keep an Estate Private, Times-Herald-Record, Aug. 28. 2014.

Special thanks to Brian Cohan (Attorney at Law, Law Offices of Brian J. Cohan, P.C.) for bringing this article to my attention.

http://lawprofessors.typepad.com/trusts_estates_prof/2014/09/lou-reeds-executors-request-low-fees-amount.html

Current Affairs, Current Events, Estate Administration, Estate Planning - Generally, Music, Wills | Permalink

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