We present a method for reversible dynamic memory management based on a reversible version of the Buddy Memory system. This method supports decoupled allocation and deallocation of variable-sized records and can be applied to any reversible language with heap storage. We demonstrate how these new capabilities allow for the direct realization of commonplace data structures such as trees, heaps and queues which until now has not been practical in a reversible language. Finally, we provide a definition of our method in the high-level reversible language Janus as well as a description of its fragmentation and garbage-generation characteristics. The reversible memory management system has been fully implemented and tested in a compiler for a reversible object-oriented programming language targeting the reversible assembly language PISA.