The Estate Inventory

It's a bit morbid to put a value on someone's life, but it has to be done and the legal system does it every day. An individual's worth is judged on the loss of income to his or her dependents plus a certain amount for pain and suffering.

The helicopter company responsible for the crash on that fateful day finally settled with the Vaughan family in July 1994. The amount was undisclosed, but it was probably close to the $300,000 figure sought.

Since Stevie was unmarried at the time of his death and had no children, there was no one to receive what would have been the most valuable item from the lawsuit - the lost income from Stevie's concerts, music publishing, and record sales over the final quarter century of his life.

At the time of his death Stevie's estate was assessed to be just $672,057.56, an amount some would say was paltry compared with that which someone of his fame should have been worth.

In truth, the Stevie Ray Vaughan estate has probably generated more revenue from newly released music and video since his death, than what it was making during his lifetime.

This is what the estate was judged to be worth at the time of his death:
SRV Estate Inventory - NO. 90-3569-P2 
ESTATE OF [[section]] IN THE PROBATE COURT
STEPHEN RAY VAUGHAN, [[section]]
DECEASED [[section]] NUMBER TWO
[[section]]
[[section]] DALLAS COUNTY, TEXAS
[[section]]

INVENTORY, APPRAISEMENT & LIST OF CLAIMS
Date of Death: August 27, 1990

The following is a full, true and complete Inventory and Appraisement of all personal and real property situated in the State of Texas, together with a List of Claims due and owing to this estate as of the date of death, which have come into the possession or knowledge of the undersigned.

INVENTORY AND APPRAISEMENT

SEPARATE PROPERTY
All property of decedent is separate property.

REAL PROPERTY
None

STOCKS AND BONDS
1. 50 Shares Class A Voting Capital Stock ($1.00 Par Value) Stevie Ray Vaughan and Double Trouble, Inc. Texas Corporation
Estimated value: included in #2

2. 50 Shares Class B Non-Voting Capital Stock ($1.00 Par Value) Stevie Ray Vaughan and Double Trouble, Inc. Texas Corporation
Estimated value: $6,612.50
(This value cannot be accurately determined at this time as potential liabilities may exceed the value of potential revenues. This value is based on decedent's share of corporate surplus.)

3. 100% of common stock of Ray Vaughan Music, Inc. Texas Corporation
Estimated value: $17,048.00
(Value is based on capital and surplus as revenue attributable to publishing & mechanical royalties is owned by decedent outright and is included in the royalty value described below.)

4. 15,000 Shares Class A Voting Capital Stock ($1.00 Par Value) Lee Melone, Inc. Georgia Corporation
Estimated value: included in #5

5. 15,000 Shares Class B Non-Voting Capital Stock ($1.00 Par Value) Lee Melone, Inc. Georgia Corporation
Estimated value: -0-

6. 100% of common stock of Stevie Ray Vaughan, Inc. Texas Corporation
Estimated value: -0-

MORTGAGES, NOTES & CASH

DEMAND DEPOSIT ACCOUNTS

1. City National Bank Los Angeles, California
(Beverly Hills) Acct. #001-980-424
$392.03

2. City National Bank Los Angeles, California
(Beverly Hills) Acct. #001-993-151
$54,278.84

3. Savings of America Dallas, Texas
$68,000.00

4. Stevie Ray Songs
City National Bank Los Angeles, California
(Beverly Hills) $1,320.42

5. Tax Savings Account
City National Bank Los Angeles, California (Beverly Hills)
$24,281.54

CERTIFICATES OF DEPOSIT

1. City National Bank Los Angeles, California
(Beverly Hills) Maturity 9/4/90
$25,474.23

PERSONAL PROPERTY

1. 1975 Chevrolet Caprice MVI#1N67U55155049
Est. value: $1,000.00

2. 132 video and audio recordings and miscellaneous film footage (accurate valuation of this property has not been made as value ranges from sentimental in nature to commercially viable; certain rights to the exploitation of the recordings are held by CBS records)
Est. value: $20,000.00

3. Personal effects, clothing, jewelry, home furnishings, motorized skateboard, bicycles, video camera, personal mementos and personal effects.
Est. value $20,000.00

4. 34 Guitars in various stages of repair
Est. value $28,450.00

5. 12 Speakers for amplified music reproduction in various stages of repair
Est. value $4,500.00

6. 31 Musical amplifiers in various stages of repair.
Est. value $25,450.00

7. Miscellaneous guitar and amplifier repair parts, cassette deck, drum set, pre-amp, CD player, power amps, track recorder, guitar body, strobe tuner, and miscellaneous musical instrument accessories and equipment.
Est. value $1,600.00

ROYALTIES

1. Mechanical and ASCAP royalties (writers and publishers), when, as, and if paid on the following song compositions:

a) Lovestruck Baby
b) I'm Cryin
c) Empty Arms
d) Dirty Pool
e) I'm Crawlin
f) The House is Rockin
g) Tightrope
h) Travis Walk
i) Wall of Denial
j) Scratch-N-Sniff
k) Riviera Paradise
l) Hard to Be
m) Pride & Joy
n) Hillbilly from Outerspace
o) Long Way from Home
p) Telephone Song
q) Baboom/Mama Said
r) Brothers
s) Rude Mood
t) Couldn't Stand the Weather
u) Lenny
v) Scuttle Buttin'
w) Honey Bee
x) Stangs Swang
y) Say What
z) Ain't Gone 'n' Give Up On Love
aa) Life Without You

2. Royalties, reserves, residuals or residuaries relating to the following records, albums, videos, soundtracks, CDs, tapes, musical compositions or other compositions:

a) Texas Flood
b) Couldn't Stand the Weather
c) Soul to Soul
d) Live Alive
e) In Step
f) Family Style

A precise valuation of the above reference royalty interests has not been made as the value of the foregoing continues to evolve. However, an estimate has been assigned to these royalty interests.
Est. value: $300,000.00

LIST OF CLAIMS

ACCOUNTS RECEIVABLE

1. Debtor: Stevie Ray Vaughan and Double Trouble, Inc.
Address: 4344 Travis, Dallas, Texas 75205
Date due: on demand
Rate of interest: none
Nature of debt: royalty payment share
Date debt arose: various dates as payments received
Amount of debt: $68,850.00

2. Debtor: Stevie Ray Vaughan and Double Trouble, Inc.Address: 4344 Travis
Dallas, Texas 75205
Date due: on demand
Rate of interest: none
Nature of debt: accrued salary
Date debt arose: various dates as salary accrued
Amount of debt: $4,800.00

The foregoing Inventory, Appraisement and List of Claims should be approved and ordered entered of record.
Respectfully submitted,
[signature]
Date: 3/04/91
JIMMIE VAUGHAN,
Independent Administrator

Ronald Habitzreiter
Attorney at Law
1208 West Ave.
Austin, Texas 78701
512-454-1730
State Bar #08665700
Attorney for the Estate

[Note: All names, titles, and other incidentals are as they appear on the original document, which was filed in Dallas County on March 21, 1991.]
This comes to a total of: $672,057.56

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