Lou Reed's Estate Divided Between Wife and Sister
Late Velvet Underground frontman Lou Reed's will was filed with a New York City court on Monday (November 4). According to a report by Billboard the estate will befall Reed's wife - musician Laurie Anderson, as well as Reed's sister.
Anderson inherit Reed's NYC penthouse, and their home in East Hampton, NY, as well as most of his estate. Reed's sister inherit about a quarter of the estate, along with an additional $500,000 which is supposed to be used to take care of their elderly mother. Licensing and copyrights of Lou Reed's music will be handled by his manager and accountant.
Reed passed away on October 27 following complications from a liver transplant he underwent in May. We recently reported on the many tributes to Reed following his death by some of the world's most famous musicians.