General News

Lou Reed leaves millions to his family

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Jun 30, 2014 | 5:42am EDT

Music legend Lou Reed left an estate worth in excess of $30 million (£18.8 million) to his family, according to a U.S. report. The veteran rocker died in October (13) at the age of 71 after a battle with liver disease, and court documents seen by editors of the New York Post show Reed's longtime manager, Robert Gotterer, has documented around $20 million (£12.5 million) in "money and other property" in his role as estate executor. The sum reportedly does not include another $10 million (£6.3 million) which has been earmarked for Reed's heirs, as well as insurance policies and pension funds. The Perfect Day star left his wife Laurie Anderson two homes, a $7 million (£4.4 million) penthouse in New York City, and a $1.5 million (£937,500) house in the Hamptons, as well as jewellery, art, cars and boats. Reed also asked for $500,000 (£312,500) to be allocated for his elderly mother's care, while his sister Margaret Reed Weiner is set to receive $5 million (£3.1 million).

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