Lisa Marie Presley’s Estate In Contention As News Emerges She Has $35 Million In Life Insurance

Before the singer and actress passed away on Jan. 12, she reportedly had up to $35 million in life insurance. This bit of information is emerging as legal battle ignites over who should manage her impressive estate, some of which she inherited from her father Elvis Presley.

Lisa Marie Presley – Took Out Two Life Insurance Policies Worth $35 Million

Lisa Marie Presley currently has two eligible life insurance policies – one worth $10 million and the other worth $25 million. A family source believes there’s a third policy worth $10 million but it’s not clear if it’s lapsed.

According to the report by TMZ, Lisa Marie previously tried to cash in the $25 million to settle her $4 million debt at the time. She had notified the insurance company and filled out the paperwork requesting for a lump sum of $2 million, but a mistake in the paperwork meant that the policy could not be cashed in.

TMZ sources revealed that Lisa Marie was $4 million in debt and owed the IRS $2.5 million prior to her death. However, even after the debts are taken care of, there will still be an impressive sum of money to reach Lisa’s three children.

According to sources, Lisa divided her assets equally among her eldest daughter Riley Keough and her 14-year-old twins Harper and Finley Lockwood. It is calculated that around $30 million will be shared between Lisa’s children, even without cashing in the supposed third life insurance.

Lisa Marie Presley’s Estate Under Contention As Riley Keough Named Sole Trustee

At the moment, Lisa’s cause of death is yet to be officially named, and it could be deferred for several months since toxicology tests are being run to determine whether opioid was in her system at the time of her death. In 2010, Lisa created a trust, and in 2016, she removed her mother Priscilla as one of her trustees.

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Riley, who recently made it public that she and her husband Ben Smith-Petersen welcomed a daughter, is currently the sole trustee of her mother’s estate, following the death of her brother in 2020.

Last week, Priscilla publicly contested her late daughter’s will as she claims she isn’t fully satisfied with the “authenticity and validity” of this new amendment. She argued that the signature and writing does not match her daughter’s “usual style”.
Be sure to catch up on everything happening with Lisa Marie Presley right now. Come back here often for all Lisa Marie Presley spoilers, news, and updates.

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