In the wake of Lisa Marie Presley’s passing, the drama surrounding Elvis Presley’s estate has been anything but quiet. As exclusive court documents obtained by In Touch reveal, the saga took another twist when a Los Angeles Superior Court judge ruled that Michael Lockwood, Lisa Marie’s ex-husband, must provide additional evidence to justify his demand for a substantial six-figure sum from The Promenade Trust. This trust, a crucial part of the Presley legacy, holds a significant portion of Elvis’s estate and has been at the center of ongoing legal battles.
The Presley Family Feud Over Elvis’s Estate
Following Lisa Marie Presley’s untimely death in 2023, her daughter Riley Keough, now 35, was appointed as the administrator of The Promenade Trust, which holds most of the assets of Elvis Presley’s estate. Lisa Marie left behind an estimated $30 million for her three children: Riley, and her 15-year-old twins, Harper and Finley.
However, this transition of power didn’t happen without controversy. Riley’s grandmother, Priscilla Presley, initially contested Riley’s appointment as the sole administrator, arguing that Lisa Marie had intended for her to co-manage the estate. This legal struggle was eventually resolved when Riley agreed to a settlement, resulting in her paying Priscilla $1 million along with an additional $400,000 to cover legal fees. This agreement temporarily quelled the discord, allowing Riley to assume control over the trust.
Michael Lockwood’s Role and Legal Battles
Amid this family turmoil, Michael Lockwood, who was married to Lisa Marie from 2006 to 2016, emerged as a significant player. Appointed as the guardian of his twin daughters, Harper and Finley, Lockwood has been advocating on their behalf following Lisa Marie’s death. Their divorce had been contentious, with custody battles continuing up to Lisa Marie’s final days.
In March, Lockwood filed a petition requesting that Riley Keough cover the legal expenses he incurred while representing his daughters’ interests in the estate dispute. In his petition, he argued that the litigation over The Promenade Trust, primarily concerning who should be the trustee, required his significant involvement and contributions. Lockwood emphasized that his efforts were crucial in ensuring the smooth resolution of the disputes, allowing for a minimal court intervention and preserving the financial stability intended for Harper and Finley.
Lockwood’s legal team highlighted his role in mediating between Riley and Priscilla, ensuring that the court issues were resolved effectively and cost-efficiently. As a result, Lockwood is seeking a payment of $153,647.32 from Riley to cover these expenses.
The Judge’s Demand for More Evidence
Despite Lockwood’s claims and detailed breakdown of his involvement, a recent hearing saw the judge refusing to grant his petition without further proof. The judge ruled that additional evidence was necessary to substantiate Lockwood’s request for the six-figure sum. As a result, the matter has been delayed, with another hearing scheduled for August to review the new evidence that Lockwood must present.
This decision adds another layer to the already complex and highly publicized legal proceedings surrounding Elvis’s estate. For now, the focus shifts to the upcoming hearing, where Lockwood will need to make a compelling case for his financial demands.
The Legacy of The Promenade Trust
The Promenade Trust, a pivotal component of the Presley family fortune, continues to be a source of contention. With Riley Keough at the helm, the trust’s management reflects not only the preservation of Elvis’s legacy but also the ongoing struggle to maintain financial and familial harmony within one of America’s most iconic dynasties.
Elvis Presley’s enduring fame and substantial estate have always been accompanied by intricate legal battles and family dynamics. As these disputes play out in the public eye, they offer a glimpse into the challenges of managing a legacy that spans generations.
Conclusion
The Presley family’s ongoing saga underscores the complexities of handling a massive estate and the personal dynamics involved. With the next court date set for August, all eyes will be on Michael Lockwood as he presents his case for the six-figure payment. Meanwhile, Riley Keough’s role as the administrator of The Promenade Trust will continue to be scrutinized as she navigates the intricate responsibilities of overseeing her family’s storied legacy.
As this chapter unfolds, the public remains captivated by the Presley family’s enduring drama, a testament to the lasting impact of Elvis’s legend and the personal stories that continue to shape his legacy.
