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Lou Reed's will revealed as remembrances continue

November 06, 2013|By August Brown
  • Anchor of the New York rock band the Velvet Underground, Reed influenced generations of artists and resonated around the world. As a songwriter and then as a solo artist, he became a pioneer of what came to be known as art rock and punk rock. He was 71.
Anchor of the New York rock band the Velvet Underground, Reed influenced… (Michael Ochs Archives /…)

Lou Reed left behind one of the most influential catalogs in music, spanning his Velvet Underground records and decades of solo work and collaborations. But he also left behind something more immediate -- his will and estate.

The 71-year-old died Oct. 27 of complications from a liver transplant. He had no children, and his considerable estate will be divided among his immediate family.

The will leaves his Manhattan penthouse, East Hampton home and the majority of his estate to his wife, the musician Laurie Anderson. The couple married in 2008.

PHOTOS: Lou Reed | 1921-2013

Reed's sister will get about a quarter of the estate and a half-million dollar fund to care for Reed's elderly mother. His accountant and business manager will take care of licensing and looking after his musical catalog, which has seen a commercial resurgence since his death.

Memorials to Reed are deeply moving his fans since his death. Patti Smith's remembrance in the New Yorker is an elegy for an artistically unmatched era in New York and for her friend who was one of its most powerful musicians.


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