Lisa Marie Presley Reportedly Died With Millions in Debt
Lisa Marie Presley was allegedly in millions of dollars of debt when she died.
According to TMZ, the singer-songwriter and rock 'n' roll heiress owed $4 million when she died Jan. 12. However, her estate will reportedly receive much more than that thanks to the star's multiple life insurance policies.
According to Entertainment Tonight, Presley's estate stands to receive around $35 million in the wake of her death.
Prior to her death, Presley allegedly attempted to cash out one of her policies in order to help pay off her debt, but the policy was never processed due to a paperwork mix-up.
Presley reportedly owed $2.5 million to the IRS alone.
She allegedly spent nearly $100 million during her life.
Presley died after suffering cardiac arrest just days after she attended the Golden Globes to support Elvis star Austin Butler.
At her memorial service, which was held at Graceland, Lisa Marie's mother Priscilla Presley read a poem in honor of Lisa Marie.
"I'm going to read something that my granddaughter wrote for all of you. And this says it all," Priscilla said before reading the poem.
The poem read:
I have no idea how to put my mother into words. The truth is, there are too many. Lisa Marie Presley was an icon, a role model, a superhero to people all over the world. But mama was my icon, my role model, my superhero in much more ways than one.
Lisa Marie Presley was laid to rest next to her late father, Elvis, and her late son, Benjamin Keough, at Graceland.
Priscilla recently filed to contest the "authenticity and validity" of Lisa Marie's will, which in 2016 named her daughter Riley Keough as a co-trustee for her estate.