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Lisa Marie Presley Is Going To WAR With Her Ex-Husband Over Elvis Fortune

Gettyimages | Jeffrey Mayer
By Mike Walters

Lisa Marie Presley is about to go to WAR over her vast fortune after her divorce case with Michael Lockwood has been set for trial.

According to new legal documents, obtained by The Blast, the judge in the estranged couples case set a trial date for July 20, 2020. In the judge's order, she set aside an entire MONTH for the trial, which will go through August 10, 2020.

This custody battle has been nastier than many we see in the celebrity world over the years.

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Nasty Allegations Of Abuse And Drug Use

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In 2016, the Los Angeles Department of Children and Family Services launched after Lisa Marie claimed Lockwood was inappropriate with their daughters. During the investigation, Lockwood claimed Presley was "coaching" the children to accuse him of illegal acts.

According to Radar Online, during interviews with Lisa Marie, the singer claimed she had found “disturbing photos” of the couple's twin daughters on her ex’s computer. In the documents, it turned out Presley was actually in the bathroom when most of the pictures were taken.

Huge Financial Break Before Legal War

In the case, Lockwood also accused Presley of substance abuse and filed documents outlining the drugs he believed she was taking. Both parties believed the other parent put the children at serious risk.

In the end, the ex-couple is preparing for war, and will go to trial this summer. During the trial, several things will be handled including custody arrangements and child support.

As we reported, Michael Lockwood was ordered to pay a huge chunk of Lisa Marie's attorney's fees to the tune of $140,000. According to the order, the fees will be split $129,000 for her attorney's fees and $11,801 in additional legal costs.

The support is an important part of the case because Lisa Marie claims the Elvis Presley fortune is all but gone.

$100 Million Fortune Up In Smoke...

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The finances is an important part of this case after we broke the story, Presley claims her dad's $100 Million fortune went up in smoke after she entrusted it with her former business manager.

Lisa Marie is currently suing the manager, Barry Siegel, claiming he made a batch of bad investments that dwindled the fortune down to just $14,000. Not to mention a host of debts.

Elvis's daughter claims she was left "financially devastated" after she accused him of squandering the fortune. In her lawsuit, Lisa Marie says the manager put the money, "in risky ventures in hopes of attaining his own celebrity in the entertainment industry." She also says he advised to sell off 85% of her interest in Elvis Presley Enterprises.

Where Did It All Go?

Gettyimages | GAB Archive

It seems that was a bad advice, saying, Siegel "put his own best interests ahead of her in order to put himself in proximity to [the investor] and his celebrity circle."

A rep for the manager, told The Blast, "It’s clear Lisa Marie is going through a difficult time in her life and looking to blame others instead of taking responsibility for her actions. The 2005 deal she is complaining about now cleared up over $20 million in debts Lisa had incurred and netted her over $40 million cash and a multi-million-dollar income stream, most of which she managed to squander in the ensuing years."

We are expecting fireworks during the trial this summer, we will be there and will bring it to you as it unfolds.

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