Lisa Marie Presley Reportedly Was Millions of Dollars in Debt Before Her Untimely Passing

Lisa Marie Presley struggled with her finances throughout much of her life. After her $100 million Elvis Presley estate inheritance was squandered away by bad business dealings and a shady manager, Lisa Marie found herself in debt to the tune of $4 million at the time of her death at the age of 54.

It appeared she was trying to clear up that mess by trying to cash out on one of her life insurance policies worth $25 million, according to TMZ. She reportedly owed $2.5 million to the IRS and wanted to pay off that debt. Lisa Marie had already filled out the paperwork to withdraw $2 million from the policy , but there was an error in the documents, so it never went through.

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The late daughter of Elvis also had another life insurance policy worth $10 million, so her estate would be worth about $30 million once her debts are cleared up. This is where things get even trickier because mother Priscilla Presley has already begun a legal fight to challenge the amendment made to Lisa Marie’s trust in 2016. Apparently, she replaced Priscilla and former business manager Barry Siegel and added daughter Riley and late son Benjamin Keough as the trustees — Priscilla wants to be added back as the trustee in place of Riley.

The family feud will play out in the courts where they decide the fate of Lisa Marie’s trust. It’s already a tragedy, but now, the finances are going make her passing even more difficult for her surviving loved ones.

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Before you go, click here to see inside the famous Presley family.

Lisa Marie Presley, Elvis Presley, Priscilla Presley: Photos of the Famous Presley Family
Lisa Marie Presley, Elvis Presley, Priscilla Presley: Photos of the Famous Presley Family

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