Logo_sm

Flick Price is reader supported and may earn commission from the links provided.  We appreciate your support and only feature products we believe in.

Lisa Marie Presley ‘owed $3M to creditors’ amid custody battle with ex-husband Michael Lockwood before her death at 54

Lisa Marie Presley ‘owed $3M to creditors’ amid custody battle with ex-husband Michael Lockwood before her death at 54

LISA Marie Presley has passed away while in millions of dollars of debt, according to court documents.

Lisa Marie and her ex-husband Michael Lockwood have been battling in court over child support for about a year, and the legal war forced her debts into the spotlight.

GettyLisa Marie passed away yesterday at the age of 54[/caption]

AFPPrior to her death, her ex-husband took her to court for child support payments[/caption]

Radar Online reported that Lisa Marie was in a massive amount of debt before her passing which included $1 million in back taxes.

The court papers showed that being divorced since 2016, Lisa Marie, who is the only daughter of rock legend Elvis Presley, didn’t pay child support because she was in serious debt.

After a million-dollar advance for her book and all the cash from the movie Elvis, Michael brought Lisa Marie back to court so she would pay the child support.

This action forced Lisa Marie to publicize her debt-to-income ratio- while only making $4,361 a month from personal income and $95,000 from the Elvis estate, which needed to be recouped by the estate by the end of the year.

WHAT HAPPENED?

The documents also state that Lisa Marie ended up proving that she was $3 million in debt, and she spent $92,000 a month on expenses.

It also claimed that Lisa Marie’s rent was $23,000, and she spent $21,000 each month paying back her debt.

According to the docs, she owed major debts including owing $1.17 million to Barclay’s Bank UK, $700,000 in back taxes, and $568,000 to the IRS for taxes she owed in 2021.

Lisa Marie owed the California Franchise Tax Board $399,012 for 2017 and 2018 taxes and $159,000 for the year 2021.

She also owed $280,000 to the assistant writer of her tell-all book.

Lisa Marie tragically died on Jan. 12 from cardiac arrest at the age of 54.

FINAL WORD

In her final Instagram post, Lisa Marie wanted to help others deal with grief.

She wrote: “Hi. In honor of it being National Grief Awareness Day, I wrote an essay about Grief which was posted today on PEOPLE.

“I thought I’d post it here in the hopes that anyone who needs to hear all of this, it helps in some way.”

Her son died by suicide after a self-inflicted gunshot wound at the young age of 27 on July 12, 2020.

In the essay she gave to PEOPLE, Lisa Marie shared what she’s learned from her grief.

She wrote: “Death is part of life whether we like it or not — and so is grieving. Grief does not stop or go away in any sense, a year, or years after the loss.

“Grief is something you will have to carry with you for the rest of your life, in spite of what certain people or our culture wants us to believe. You do not ‘get over it,’ you do not ‘move on,’ period.”

Lisa Marie is survived by daughter Riley Keough, 33, from her first marriage to Daniel Keough and twins Harper and Finley, 14, whom she shares with ex husband Michael.

RexDuring the court proceedings, it was revealed that Lisa Marie was in debt[/caption]

She owed over two million dollars in back taxes and loansGraham Whitby Boot/AllstarLisa Marie’s last social media post was about her grief surrounding her late son[/caption]

Stay Informed

Top sales and promotions – delivered straight to your inbox!

Generated by Feedzy
Share, Request & Trade YOUR Gift Cards, Coupons & Promo Codes (5/19/2022)

Newsletter

Top Sales and Discounts 
 – delivered straight to your inbox