Lisa Marie Presley's death ignites legal war as mom Priscilla wants daughter's ex Michael Lockwood out of Elvis' estate
CALABASAS, CALIFORNIA: Lisa Marie Presley's untimely death has reignited a battle for the King's money. According to insiders, Lisa Marie, 54, passed away on January 12—just four days after what would have been Elvis' 88th birthday—leaving her mother, Priscilla, in the midst of an impending legal dispute over the legacy of Elvis and their twin teenage grandkids, Finley and Harper Lockwood, as per RadarOnline.com.
The twins, whose father is guitarist Michael Lockwood, now control two-thirds of Lisa Marie's assets following her death. Riley Keough, their 33-year-old half-sister from Lisa Marie's first marriage to singer Danny Keough, is the rightful owner of the remaining third.
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Years ago, Lisa Marie sold off the majority of her stake in Elvis' estate. She still held some of the property and had ownership in Graceland, though. She also presided over a trust established by Elvis that included about $65 million, according to her ex-husband.
“Michael is looking to be named executor of his daughters’ trust and finances to gain control of millions in cash,” revealed the source. “But Priscilla believes this is Presley money — and she’ll fight tooth and nail to keep his hands off it!” According to sources, Lockwood, who was eventually granted a divorce by Lisa Marie in 2016 after five years of marriage, plans to resume his long-running legal cash grab.
In order to avoid a messy public trial, Presley agreed to pay Lockwood $6k per month in child support last year. After years of financial hardship, Lockwood claimed Presley was rich with wealth and had demanded support. He cited her $3–4 million contract to pen a memoir about Elvis and Michael Jackson, as well as the critically acclaimed movie starring Austin Butler, as examples of her success. At the time of Lisa Marie's death, the two were still at odds over a particular clause in the support agreement.
She held 60 percent custody and Lockwood, 40 percent of their children. According to sources, Lockwood will now have sole custody of the children, and Priscilla won't argue with him about it. According to insiders, Priscilla, 77, who was Elvis' sole wife, also wants to make sure she will have legal access to the teenagers and plans to ask a judge to require visiting privileges.
Priscilla and Michael have not yet submitted any court petitions. Lisa Marie left behind roughly $3 million in debt to different creditors.
