Lisa Marie Presley’s Ex-Husband Reportedly Eyeing $16M Estate after Getting Custody of Twins, Could Leave Her Entire Family on the Streets
After the recent death of Lisa Marie Presley, financial and inheritance matters seem to have become a bit confusing. She had been the sole heir of her father late Elvis Presley’s estate. And before her death, she had been in a custody battle of her twin children with her former husband Michael Lockwood. He had demanded that she pay child support which the late mother of two avoided for years. Although her net worth amounted to around 16 million dollars, Presley had been in huge financial debt. But all in all, her death reportedly left some confusion about who would inherit her estates.
Will Michael Lockwood Get Access to Late Wife’s Multi-Million Dollar Estate?
As Michael Lockwood had been battling with his now-late ex-wife Lisa Marie Presley over child custody and financial support, her death has brought some confusion. According to Radar Online, the court documents reveal that his legal team has no idea about who will take over Presley’s estate after her. It is of great importance as he demanded child support which was supposed to be paid by her. Lockwood’s lawyer said,
“We do not currently know the intended Executors and Trustees that the late Lisa Marie Presley had named.”
Moreover, reportedly he is going to have full custody over his 14-year-old twins. And on top of that, even Presley’s family has seemingly no interest in any further court battle with the father of two. Therefore, it is important to know who will be responsible for managing or taking over his late wife’s estate. Although before her death, Presley had avoided paying the child support amount on financial issues. However, according to court documents, Lockwood said, her finances were back in good shape. But even after agreeing to pay 6k dollars a month, she apparently did not stick to the agreement. This led to the musician being back in court.
In such cases, there is a high chance of her children inheriting her properties. Since their father reportedly has full custody now, he might have access to Presley’s 16-million-dollar estate himself.
Lisa Marie Presley’s Death
The death was announced on the 12th of January by Priscilla Presley. According to People, the LA county fire department confirmed that the call had been for a Cardiac arrest. Lisa Marie Presley, unfortunately, could not survive. And in the evening on the day of her death, her other stated the same publication announcing her death. She wrote,
“It is with a heavy heart that I must share the devastating news that my beautiful daughter Lisa Marie has left us,”
Before the mother of two’s death, she was in a bitter court battle with her former husband Michael Lockwood over child custody. The pair got divorced back in 2021 after a decade-long marriage. Aside from that, Presley had also been in substantial financial debt. She reopened the Graceland mansion after the pandemic and even signed about 3-4 million book deals. This was supposed to improve her finances. But she still did not go by her words to pay child support according to Lockwood. After her death, things are surely going to change regarding the case.
Source: Radar Online
