Lisa Marie Presley's Death May Lead To A Sad Fate For Graceland
Upon Lisa Marie Presley's sudden death on January 12, she left behind three children — Riley Keough, her eldest daughter, whom she shared with ex-husband Danny Keough, and twins Finley and Harper from her marriage to Michael Lockwood, per Today. Finley and Harper are 14 years old, and Riley is in her early 30s (via Today). Presley's only son, Benjamin Keough, tragically preceded her in death in 2020 when he died by suicide. Despite this heartbreaking loss, Presley believed they'd be connected forever as she and Benjamin had matching Celtic eternity knot tattoos to symbolize their eternal bond, per an Instagram post from the 54-year-old.
Presley once told Healthy Living Magazine that her parenting style was very protective and that her kids all enjoyed being very close to her, like best friends. "I just smother them in love and I am also ferociously protective," she told the magazine. "They are my priority. That's what I do. That's what I care most about. I keep them close to me and make sure they are happy and healthy." Given that Presley was the sole heir to her father, Elvis Presley's, home and legacy, Graceland, many have been wondering what's going to happen now that Lisa Marie has sadly passed away.
If you or anyone you know is having suicidal thoughts, please call the National Suicide Prevention Lifeline by dialing 988 or by calling 1-800-273-TALK (8255).
Lisa Marie had a lot of debts
Although she inherited over $100 million from her father, Elvis Presley, and owned Graceland, Lisa Marie Presley is believed to have left behind a staggering amount of debt to the tune of about $16 million, per the Daily Mail. It's believed that Lisa Marie's inheritance from her father was entirely spent due to bad investments and poor management, according to the outlet. However, the actual property of Graceland will likely be passed down to her three surviving children.
While she may not have had a great fortune to pass on personally, the Presley estate Lisa Marie left behind is a different story. Per Rolling Stone, the estate is worth between "$400 and $500 million" as of 2020. But the passing of ownership of Graceland might spell the end of the family's ties, according to Ryan Sellers, founding partner of Hales & Sellers PLLC.
"There is a strong likelihood that Graceland gets sold, even if the family doesn't need the funds to pay back creditors," Sellers said in a statement. "Depending on the personality and leverage of the kids, even if there is enough liquidity in the estate to keep Graceland and pay out creditors, will they have enough cash left over to support it?" We will have to wait and see what becomes of The King's beloved Graceland.