Lou Reed Walked On The Wild Side With His Estate Planning

http://trialandheirs.com/blog/celebrities/lou-reed-walked-wild-side-estate-planning
Lou Reed Walked On The Wild Side With His Estate Planning
Maybe we shouldn’t be surprised. After all, Lou Reed was the man who famously crooned, “Hey babe, talk a walk on the wild side.” The late lead singer and guitarist of The Velvet Underground — and of course, a musician and songwriter with a successful, decades-long solo career — may have been a bit wild at times. But that doesn’t explain why he would be so careless with his estate plan. This is a man with an estate worth more than $30 million — perhaps substantially more, in fact. Recent filings with the Surrogate’s Court in Manhattan (that’s probate court, for us non-New Yorkers) show that Lou Reed’s estate has already earned $20,379,169 (give or take a few bucks) since he passed away from liver disease on October 27, 2013, at the age of 71. This is only the income that Lou Reed’s estate has brought in since his death, from his copyright, publishing and performance royalties and other deals put together under the skillful management of his longtime manager Read more... The post Lou Reed Walked On The Wild Side With His Estate Planning appeared first on Trial and Heirs Blog .