SAN FRANCISCO, CALIFORNIA: Lisa Marie Presley's ex-husband, Michael Lockwood, is expressing fears of being shut out by the family and believes that his twin daughters may be turned against him. Lockwood's concerns have arisen following the resolution of a family feud between Riley Keough and Priscilla Presley, which involved financial matters related to Lisa Marie's trust.
Lisa Marie Presley died on January 12, after suffering a cardiac arrest. She had significant debts and owed $3-$4 million to various creditors, including a substantial amount to the IRS. However, life insurance policies were in place, resulting in a payout of $35 million upon her death. The beneficiaries of the trust are Riley Keough and her younger sisters, Harper and Finley.
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Priscilla Presley's lawsuit
Priscilla Presley took legal action shortly after Lisa Marie's death, seeking to be named co-trustee alongside her ex-business manager, Barry Siegel. She claimed that an alleged 2016 amendment, purportedly signed by Lisa Marie, had removed her from the trust and placed Riley Keough in charge. However, Priscilla Presley expressed doubts about the authenticity of her daughter's signature on the amendment.
Riley Keough reportedly disagreed with her grandmother's decision to involve the court in the matter. Ultimately, Keough agreed to pay Priscilla Presley and will now have sole control over her mother's trust, which holds interests in various companies associated with Elvis Presley. Sources indicate that this agreement has left Michael Lockwood in the dark. Concerns have been raised that Lisa Marie harbored negative feelings toward Michael Lockwood before her death, and Riley Keough, feeling a duty to distance him, may have influenced Priscilla Presley's actions.
'Priscilla was the only ally Michael had!'
“Lisa Marie went to her death despising Michael, and it’s no secret Riley considers it her duty to disenfranchise him,” said a source. “Now, he thinks she’s got Priscilla in her corner!” as per Radar Online. However, as the twins' guardian, Michael Lockwood will continue to manage their share of Lisa Marie's trust. “Riley is galled Michael has access to the twins’ cash,” said a source. “Priscilla was the only ally Michael had, but Riley wants her to cut ties with him and may have bought her off. He has every right to worry about being left out in the cold!”
