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Priscilla Presley is reportedly going to war as her daughter Lisa Marie’s estate appears to be flush with cash. According to TMZ, sources confirm Elvis and Priscilla’s daughter had two life insurance policies. One was work $25M and the second was worth $10M. Sources also claim there is a third $10M policy. It, however, appears as if the third policy may have lapsed.
Shockingly, this $35M estate almost ceased to exist as Lisa Marie Presley attempted to cash in the $25M because of her $4M in debt. Lisa reportedly filed the paperwork to cash in the $25M policy for $2M in cash. There, however, was a blunder somewhere in the paperwork and the policy was never cashed in before she passed away. So, now her beneficiaries will get the full $25M and $10M from the two policies.
Priscilla Presley was axed from Lisa Marie’s will
After the funds are used to pay off her debts, there is estimated to be about $30M remaining. This, however, is assuming the third $10M policy did lapse. Per Lisa Marie’s will, all $30M is to be split evening between her three children Riley Keough, Finley Lockwood, and Harper Lockwood.
Now, Finley and Harper are only 14. So, the portion of the money that goes to them will go into a trust until they become adults. Per TMZ, this is where the drama stars. In 2010, Lisa created a trust naming her mother Priscilla Presley, and her former business manager Barry Siegel as the two trustees.
Is it just me or does it seem a little sleazy that Priscilla Presley is fighting her grandkids for their $35 million inheritance? She got Elvis’ money and now she wants Riley Keough, Finley Aaron Love and Harper Vivienne Ann’s share of the life insurance? What do you think? pic.twitter.com/koVfMapVn1
— Peaceful Piranha (@GuruPiranha) January 30, 2023
In 2016, Lisa Marie amended her will. She cut both her former business partner and her mother out of it. And, she named her daughter Riley and her son Benjamin (who is no longer alive) as the trustees. As it stands, this means Riley is the trustee with equal parts of the money going to Riley and the twins when they become of age.
On Friday, however, Priscilla Presley filed legal documents challenging the 2016 amendment. If she is successful, she will be named as one of the trustees of the $35M estate.
I can’t believe your daughter’s body is cold and you are already contesting her will and Trust against her amazing and close daughter, Riley? How much more money do you want. Elvis did not put you in charge of Lisa Marie’s trust. All the media know about this intimate matter?
— Queen (@queen_station) January 27, 2023
What is she challenging exactly?
According to Page Six, sources close to the situation are describing what Priscilla Presley is trying to do as a “money grab” situation. The source goes on to note that Priscilla and Lisa Marie were not very close. And, it is wild that she would challenge the validity of the amendment.
In her challenge, Priscilla is asking the judge to compare Lisa Marie’s signature on the amendment to other documents noting that it isn’t Lisa’s signature. Priscilla also argues that her daughter’s name is spelled wrong.
Priscilla Presley contesting Lisa Marie's will is a 'money grab': source https://t.co/Ndp4D3e1Se pic.twitter.com/UJ7ajCrB8s
— New York Post (@nypost) January 30, 2023
On the outside looking in, it appears as if Priscilla Presley is going to war in an attempt to take some of this very flush estate from her grandchildren.