Lisa Marie Presley reportedly owed millions to the IRS when she died earlier this month.
But according to TMZ “family sources” say she had $35 million in life insurance policies
Elvis’ only daughter had taken out at least two life insurance policies, and had tried to cash in on the larger policy recently to pay off her IRS debt but apparently, due to clerical error, it wasn’t processed.
Presley’s children, 14-year-old twins Finley and Harper Lockwood, were named beneficiaries of the policies, along with daughter Riley Keough, who replaced Lisa Marie’s mother, Priscilla Presley, as trustee of the family trust in 2016.
A storm is brewing over the funds, with Priscilla supposedly challenging the validity of the amendment that cut her out this fortune.