Lisa Marie Presley Had At Least $35 Million In Life Insurance -- Fortune Now At Center Of Trust Battle!
30.01.2023 - 21:11
/ perezhilton.com
Lisa Marie Presley was millions of dollars in debt at the time of her death, but she’s also leaving behind tens of millions for her family thanks to several life insurance policies.
According to family sources via TMZ on Monday, the singer had taken out at least two life insurance policies before her January 12 death. The first one was for a total of $25 million and the second was for $10 million. The insiders believe there may be a third $10 million policy, as well, but it’s unclear if it expired or not.
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But here’s the thing. The sources claim Lisa was actually trying to cash in on the $25 million policy to pay some of the debts she owed — totaling $4 million!! Apparently, she notified the insurance company and filled out the necessary paperwork to get a lump sum of $2 million, but there was a screwup in the paperwork and she was never given the cash. So, when Lisa Marie died, she was $4 million in debt, with $2.5 million owed to the IRS. It’s unclear what she owed the rest of the money for, but apparently, the performer blew through $100 million during her adult years, so $4 million in debt may not have seemed like a lot to her.
When the debts are cleared thanks to her life insurance policies, there will be about $30 million left (assuming there isn’t a third policy, which would make this price even higher). The mother’s three children, Riley Keough, 33, and twins Harper and Finley Lockwood, 14, were named beneficiaries and will receive equal amounts. (Her 27-year-old son Benjamin Keough passed away in 2020.)
Seeing as the twins are still minors, their money will go into a trust — the very trust which is at the center of a major family