Lisa Marie Presley’s Mom Priscilla & Daughter Riley Battling Over $35 Million Life Insurance Payouts
Jan. 30 2023, Updated 11:36 a.m. ET
Lisa Marie Presley’s mother Priscilla and her daughter Riley Keough are in the middle of a nasty battle over $35 million that was paid out from her life insurance policies, RadarOnline.com has learned.
According to sources close to the situation, Lisa Marie took out 2 life insurance policies before her death. One was for $25 million and the second was for $10 million.
Sources claim there was a third policy taken out, but it is believed to have lapsed. As RadarOnline.com first reported, Lisa Marie was $3-4 million in debt when she died. Elvis’ only child had sold off the majority stake in the late musician’s estate years back.
Her debts included $700k in back taxes to various states, $568k to the IRS for 2021 taxes, another $400k to the California Franchise Tax Board for 2017/2018, and another $159k for 2021. In addition, she owed $280k to the assistant writer who helped her with her unfinished tell-all, $1.17 million owed to Barclay’s Bank UK for a loan, $40k on the Maserati she leased and various legal fees associated with her ongoing divorce battle with ex-husband Michael Lockwood.
According to insiders, following Lisa Marie’s death, her estate became flush with cash from the life insurance money. Prior to her death, Lisa Marie’s finances were so dire that she had started the process of cashing in on a $25 million policy to pay off her debts.
Lisa Marie had reached out to the life insurance company to obtain $2 million. The paperwork was never completed, and Lisa Marie never received the money.
Once the debts are paid off, there will be around $30 million for Lisa Marie’s three kids. She was survived by her 33-year-old daughter Riley Keough and her 14-year-old twins, Harper and Finley.
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The money for the twins would be put into a trust that was created by Lisa Marie in 2010. The trust originally named Priscilla and Lisa's ex-business manager Barry Siegel as trustees. However, in 2016, an amendment was signed that cut Priscilla out and named Riley in her place. Priscilla believes that amendment was fraudulent.
Riley has yet to respond to the case.
