The daughter of famous singer Elvis Presley's sudden death at the age of 54 has sparked a new documentary. The documentary reveals that she took out as many as three life insurance policies, which could leave her estate creditworthy. According to sources, she had two policies totaling $25 million and $10 million, with additional insurance possibly valued at $10 million.
Her three children, among them, 33-year-old actor Riley Keough and her twin girls Harper and Finley, who are 14 years old, will split the proceeds from the aforementioned insurance policies.
Goretti Sobeit/Flickr | Elvis and Lisa Marie Presley, in wealth and happiness?
Terrible Handling Of Finance
Her money problems have received a lot of focus over the years of her existence. She received a $100 million inheritance from her late father, though according to reports, she lost all of it in just a few decades due to terrible handling of cash and inadequate financing.
Battles Over The Inheritance
Mrs. Presley, Marie’s mother, is currently battling over a portion of her deceased daughter's inheritance as well as contesting the validity of a 2016 adjustment to her foundation that gave trustee duties to Keough and her late spouse instead of her mother. According to Priscilla, the initials and times in the modification are actually shady, and Lisa’s sign is incoherent compared to her regular sign.
A 2 million-dollar tax obligation is among the rumored tens of millions of dollars in loans that her property will eventually be used to settle. Her economic difficulties led to several civil disputes, involving her then-husband Michael Lockwood prosecuting her for supposedly not upholding their premarital deal and failing to make alimony payments.
Additionally, she filed a lawsuit against company administrator Siegel for supposedly mismanaging her father's legacy, which had dropped from a value of $100 million during its highest point to $14,000 in 2016.
Ingo Joseph/Pexels.com| Elvis Presley Mansion Inherited By His Grandkids!
Her kids additionally received the famed property in Memphis, which belonged to her father and continues to be a popular destination for travel for worldwide fans. Sadly her lack of financial oversight led to disagreements or judicial fights over her assets, forcing her surviving relatives to deal with the fallout from her financial problems.
Final Analysis
The experience she ought to act as a reminder of the value of prudent budgeting along with budgetary preparation. She lost every penny of her wealth regardless of acquiring an enormous amount of wealth because she lacked control over her finances and relied on bad business decisions. It serves as an indicator to us all that prosperity may be transient and why it is crucial that we make responsible financial decisions and make long-term plans.
Karolina Grabowska/Pexels.com| Spending sensibly wouldn’t have burdened her kids with her debt
In the final analysis, money issues and legal wrangling over Lisa’s fortune have tarnished her personality and reputation. Although her life insurance payouts could provide her kids with a sizeable amount, they will additionally be left with her debts and the burden of administering her estate. Her experience serves as an example of the value of prudent investment choices and financial preparation in securing a secure financial future.
