Stevie Ray Vaughan left a fairly small estate.
History has shown musicians on aircraft often have tragic endings.
This is true of a number of legends.
One of these legends was Stevie Ray Vaughan.
According to a recent MSN article titled “Here’s Who Inherited Stevie Ray Vaughan’s Money After His Death,” Vaughan did not have a last will and testament at the time of his death.
After Vaughan died in a helicopter crash on August 27, 1990, his family and the courts were left to sort through what he left behind.
Although Stevie Ray Vaughan has been cited as inspiring other artists like Corey Stevens and John Mayer, he left a fairly small estate as celebrities go.
When he passed, the estate was worth only $672,057.56.
In addition to this sum, the company that owned the faulty helicopter paid a settlement to the estate.
According to intestate laws, the next of kin would inherit.
Who were the closest relatives of Stevie Ray Vaughan?
Vaughan died without children or spouse.
In his state of residence, this made his brother Jimmie Vaughan the next of kin.
Vaughan had a variety of assets.
These included song royalties, stocks, bonds, 34 guitars, a Chevrolet Caprice, and several amps and speakers.
Stevie Ray Vaughan also died with some unpaid debts.
According to The Austin Chronicle these debts totaled $68,850.
Even after settling up, his brother is still benefiting from the estate.
All income received from sales of Stevie Ray Vaughan music pass to Jimmie.
After the death of his brother, Jimmie released several posthumous albums including “The Sky is Crying” and “Live at the EL Mocambo”.
Jimmie even released the sibling collaboration album “Family Style” a month after the death of his brother.
Despite his early demise, the popularity of Stevie Ray Vaughan and his musical legacy are very much alive.
Reference: MSN (Aug. 4, 2022) “Here’s Who Inherited Stevie Ray Vaughan’s Money After His Death”