Lisa Marie Presley had $35 million in life insurance coverage, Battle Brewing
Lisa Marie Presley She was tens of millions of {dollars} in debt on the finish of her life, however the second she died, her property was full of money – as a lot as $35 million.
Household sources inform TMZ… Lisa took out two life insurance coverage insurance policies – one for $25 million, the opposite for $10 million. Our sources say there could possibly be a 3rd $10 million coverage, but it surely’s unclear if it’s been crossed over.
What’s much more stunning… our sources say Lisa was making an attempt to money out $25 million in a coverage to repay a number of the debt she owes, which totals $4 million. We’re advised that she notified the insurance coverage firm and accomplished the paperwork to solely get a lump sum of $2 million. We have been advised there was an error with the paperwork so the coverage was by no means cashed.
Our sources say Lisa was $4 million in debt when she died… of that quantity she owed $2.5 million to the IRS. We’ve discovered that Lisa ripped off $100 million throughout her grownup years.
When the debt is settled, there will probably be about $30 million (assuming the third coverage expires) to distribute. Lisa’s three kids advised us, Riley Keough and twins, aged 14, Finley And Harper Lockwoodare designated as beneficiaries and can obtain equal quantities.
For the reason that twins are minors, the cash will probably be transferred to a fund. That is the place the household battle started. As we reported, Lisa arrange a belief in 2010, naming her mom and son Benjamin as guardians.
Lisa amended the belief in 2016, shedding Priscilla as trustee and naming her daughter Riley in her place. As we reported, Pricilla filed authorized paperwork on Friday, problem the validity from the modification. Presumably, she nonetheless desires to be regent for what now quantities to a fortune.
TMZ has put collectively a documentary – “TMZ Investigates Lisa Marie Presley: A Neverending Tragedy” – that breaks the information about the reason for loss of life, cash, and custody/visitation disputes. The Doc airs tonight, January 30, on FOX at 8 p.m.
