According to the terms of his will, the rocker's estate will be divided between the three women in his life
As we continue to mourn the death of one of the most iconic and influential rock stars of the last 50 years, it has been easy to forget that underneath all the tales of excess and debauched living, Lou Reed was actually something of a family man. As the terms of his will - recently made public by the New York Post - state, the icon's wealth has been split up amongst his family, the bulk of which is going to the three most important women in his life.
Lou Reed: 1942 - 2013
His wife, Laurie Anderson, his only sister and their elderly mother have been named as the main benefactors from the will, which was filed in Manhattan Surrogate’s Court on Monday, 4 November. His wife Anderson, whom he married in 2008 after more than a decade of being in a professional relationship, was bequeathed the largest portion of his money, and has been given all of his worldly possessions, including a multi-million dollar apartment in the Hamptons, their West 11th Street apartment and any jewellery, clothing, art, cars and boats once belonging to him. She has also been named as the new head of his touring company Sister Ray Enterprises and has been given 75% of his estate.
The other 25% will be awarded to his only sibling, his younger sister Margaret Reed Weiner. Upon Anderson's death, the money left to her by Reed will then be awarded to Weiner and her three children, all of whom live in the Five Boroughs. In addition to the portion of his estate, Reed also left his sister $500,000 for the sole purpose of looking after their elderly mother, Toby Reed, 93.
Listen to more of Lou's solo hits
Lou famously had a toxic relationship with his parents for much of his life and rebelled against them and his middle class, Long Island upbringing in his formative years. In his youth, his parents subjected Lou to electroshock therapy in a bid to 'cure' his bisexuality, an event that inspired the song 'Kill Your Sons.'
His will goes on to name long-time business associates Robert Gotterer and David Gotterer as the trustees of his estate, requesting them to protect his musical interests and treat his musical creations as “their own,” a request he reportedly made upon his death bed.
His longtime business manager, David, has worked alongside the Velvet Underground rocker since the 1970s, and his naming in the will comes as little surprise. Already, the Gotterers have been handed their first responsibility in managing the countless requests to use Reed's music in advertising campaigns. Since his death on 27 October, his management have been inundated with requests to use his musical repertoire, with 'Perfect Day' and 'Walk on the Wilde Side' among the most popular.
His estate will be controlled by his longtime friends and business associates