Lisa Marie Presley tragically died earlier this month after suffering two cardiac arrests aged 54. With the world reeling from Lisa’s sudden death, a new documentary about music legend Elvis Presley’s only child claims the singer was ‘full of money’ just before his death.
A new documentary, TMZ Investigates: Lisa Marie Presley: Unending Tragedy, claims the mother of four took out “up to three” different life insurance policies just before her Jan. 12 death.
The composer was notoriously bad with money, like Elvis, and reportedly used up the $100 million she inherited from her father.
The documentary claims Lisa was still saddled with debt at the time of her death, amounting to $4 million, $2.5 million of which was owed to the tax man.
In a clip from the new film, obtained by the Daily Mail, TMZ’s executive producer Charles Latibeaudiere says: “We discovered that Lisa’s estate was suddenly filled with money on the day of her death.”
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Another TMZ executive producer, Harvey Levin, claimed that sources close to the singer revealed that she took out at least three life insurance policies before her death.
The source noted that the first was $25 million, the second was $10 million and “there may have been a third” of $10 million, though she noted that she may have already expired.
At the time of her death, Lisa Marie owned the famous Graceland estate, which has become a tourist attraction for Elvis fans and receives hundreds of thousands of visitors each year.
It has been confirmed that Lisa Marie’s three daughters, Riley, 33, Harper, 14, and Finley, 14, will inherit the mansion and share the life insurance money.
Lisa Marie’s son, Benjamin, tragically killed himself in July 2020 at the age of 28.
Graceland was originally purchased by Elvis when he was still a young rising star for $100,000.
But after Elvis died in 1977, it was his ex-wife and Lisa Marie’s mother, Priscilla Presley, 77, who restored the property so it could be opened to the public in 1982.
Over the weekend, it was reported that Priscilla had filed legal documents on Lisa Marie’s trust.
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The singer’s trust was created in 1993 and amended in 2010, according to legal documents obtained by the New York Post.
The change eliminated Priscilla and Lisa Marie’s former business manager, Barry Siegel, as administrator, replacing Riley and the late Benjamin.
In the new documents, Priscilla reportedly asked a judge to overturn the change, saying the signature on the changes is “inconsistent” with Lisa Marie’s name, which is also misspelled.
Priscilla’s new filing also claims she found a document after her daughter’s death with an amendment dated 2016.
Lisa Marie and Barry Siegel had an infamous legal battle in 2018 that publicized the star’s financial situation.
The singer has sued her business manager, claiming her mismanagement of funds saw her $100 million inheritance shrink to just $14,000 in 2016, claiming her business decisions left her $100 million in debt. 500,000 dollars on his credit card.
She originally named Barry in 2003 as she embarked on her own music career, and two years later businessman Lisa Maries sold 85% of Elvis Presley Enterprises.
Lisa Marie thus lost most of the control over her father’s name and image rights, but Barry claimed the deal was made to help the singer pay off her $20 million debt.
Encause.co.uk has contacted representatives for Priscilla Presley and Riley Keough for comment.