Why Do We Know So Much About Lou Reed's Estate?

When most people die there is not much interest in the details of their estates. However, when a celebrity passes away, reporters are keen to find out how much money the celebrity had and how it will be distributed. Recently, the New York Posthas had story after story about the specific details of Lou Reed's estate plan. We know how much he had when he passed away. We know how much money his intellectual property interests have earned for his estate since he passed away. We also know how much money each of Reed's heirs will receive. The New York Postis not getting this information because their reporters are doing investigative journalism and figuring it out. 

As Forbespoints out, in an article titled "Lou Reed Walked on the Wild Side With His Estate Planning," we know what we know about Lou Reed's estate because his entire estate plan consisted of a single will. That will had to be submitted to a public probate process, which allows reporters to gain access to the details. If Reed had used a different estate planning tool, such as a Revocable Living Trust, it would be much more difficult for reporters to find out the details.

You might not care whether your estate is made public after you pass away, since you will not be around to deal with any consequences. However, you should consider whether your heirs would want other people to know exactly how much they inherited. It might violate their privacy.

Visit: www.letstalkestateplanning.com

Gwinnett County and Johns Creek

Reference: Forbes (July 10, 2014) "Lou Reed Walked on the Wild Side With His Estate Planning

No Comments

Leave a comment
Comment Information

Upcoming Workshops

3 Easy Steps To Protect Your "Stuff" This workshop addresses frequently asked questions and common misconceptions on Wills & Trusts, Asset Protection, Nursing Home Issues, and Medicaid Qualification.

Join Now! More Workshops

Call Us Today To Schedule A Consultation

We are ready to help you start planning. To schedule an initial consultation, call us at 770-822-2723 or 866-735-9628. You may also contact us online.

ESTATE PLANNING LAW GROUP OF GEORGIA,

Johns Creek Office
11555 Medlock Bridge Road, Suite 100
Johns Creek, GA 30097

Toll Free: 866-735-9628
Phone: 770-822-2723
Fax: 770-573-3379
Map & Directions

Lawrenceville Office
1755 North Brown Road, Suite 200
Lawrenceville, GA 30043

Toll Free: 866-735-9628
Phone: 770-822-2723
Fax: 770-573-3379
Map & Directions

map

How can we help you?

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close