Lisa Marie and Priscilla Presley Wiki, Biography
The finances of the late American singer Lisa Marie Presley have come to light days after her untimely death on January 12 due to cardiac arrest. According to a new report published by TMZ, Lisa was millions of dollars in debt at the time of her death. Sources close to the family revealed that the late singer had taken out two life insurance policies of $25 million and $10 million respectively, and her estate now receives $35 million in total.
The outlet further stated that in order to pay off the $4 million debt, Lisa Marie appeared to have cashed in one of her life insurance policies early, which would have netted her $2 million. But apparently, the paperwork got mixed up and the money was never collected.
TMZ also reported that the late singer had spent more than $100 million in her lifetime and owed $2.5 million of her debt to the IRS.
Mother Priscilla Presley was removed as trustee of Lisa Marie’s trust
According to TMZ, after Lisa Marie’s debts are settled, an amount of around $30 million will be distributed equally among her three children: Riley Keough and her twin daughters Finley and Harper Lockwood. Since the twins are currently 14 years old, their money will go into a trust.
In 2010, Lisa Marie created a trust and announced her mother, Priscilla Presley, and former business manager, Barry Siegel, as trustees. However, in 2016, the singer removed her mother and Siegel as trustees and replaced them with her daughters Riley and Benjamin.
On January 27, Ok! reported that Priscilla Presley had legally challenged the validity of the amendments, claiming that she was never informed of the change and thought the amendment might have been forged.
According to the documents, Priscilla came to the conclusion that her own name was misspelled on the documents and her daughter’s signature “appeared inconsistent with her usual and customary signature.”
“It’s hard to have a relationship with”: Lisa Marie once said about the difficulties in the relationship between her and Priscilla Presley
Lisa Marie and Priscilla Presley had their share of ups and downs throughout the former’s life, however, the two were close at the time of the singer’s death. Lisa suffered emotionally after her father, Elvis Presley, died of cardiac arrest at the age of 42.
While discussing her relationship with her mother, the “Lights Out” singer revealed that she started using drugs after entering her teens, which turned things sour with Priscilla.
Appearing on an episode of The Talk in 2013, Lisa stated:
“My mom was very, very strict with me. Constrictive. I could tell it wasn’t going to work out very well because she kept us from getting close for a long time. We’re really close now, but when I was younger, it was, like, hard to have a relationship with someone who has you… around their neck all the time.”
She added that Priscilla expected her to be “sensible” like her. Priscilla reportedly checked her into a Scientology center called The Castle in Hollywood, however the latter soon left the church. While speaking to USA Weekend about her decision to leave her, she said:
“Discovering the fact that he was surrounded by people who didn’t mean well, for example. Confidants [who were] very, very intimate and closely involved with me and my life. And it had been for years.”
The late singer added:
“Basically, it was a big sinister situation, where there was some kind of intelligence and covert operations, and a whole effort to control me that I didn’t know about… It was too much for me.”
Things began to look up between the mother-daughter duo, however, and soon, Priscilla helped her granddaughters, twins Finley and Harper Lockwood, move into their Calabasas residence while her father was under investigation for abuse. childish.
The duo also attended Elvis’ premiere in 2022 and frequently shared photos on social media. Lisa’s death was confirmed through Priscilla Presley in a statement issued to various media outlets.
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