Lisa Marie Presley’s Ex-Husband Michael Lockwood Scores 6-Figure Sum From Elvis’ Trust

Lisa Marie Presley’s ex-husband Michael Lockwood scored a huge victory in his battle for money from Riley Keough and the Elvis trust, In Touch can exclusively report.

According to court documents obtained by In Touch, a Los Angeles Superior Court judge granted Michael’s motion asking to be reimbursed the six-figure sum he spent in legal fees for the 15-year-old twins he shared with Lisa Marie, Finley and Harper Lockwood.

The court ruled that Riley, 35, as trustee of the Promenade Trust, shall pay Michael, 63, a total of $188,275.32. The order said $94,137 will be taken from both Finley and Harper’s interest in the Promenade Trust. The trust holds the majority of Elvis' estate, including Graceland.

Lisa Marie Presley died on January 12, 2023, at the age of 54. She was survived by Riley and the twins. Elvis' only child left behind a will that appointed Riley as the administrator of her estate.

Lisa Marie died with millions in debt but had taken out life insurance policies that paid out $35 million to her life when she died. Riley and her twin sisters are the only beneficiaries of the estate. Michael was appointed as guardians of Finley and Harper and awarded sole custody.

After Lisa Marie's death, her mother, Priscilla Presley, filed a petition in court challenging the signature on the will.

She tried to have a previous will that appointed her as coadministrator of the estate enforced. Eventually, Riley and her grandmother reached a deal and Priscilla, 79, dropped her fight in exchange for $1 million and legal fees.

Priscilla said after dropping the court battle, “My daughter’s passing was both devastating and heartbreaking. We have learned that the fans realize that we are ‘Just a Family.’ Elvis would be proud and his and Lisa’s wishes are what are most important to all of us.”

“My granddaughter, through her counsel, along with my team worked diligently and tirelessly to resolve all misunderstandings as a family," she added.

"When my mom passed, there was a lot of chaos in every aspect of our lives," Riley told Vanity Fair after the settlement was reached. "Everything felt like the carpet had been ripped out and the floor had melted from under us."

"Everyone was in a bit of a panic to understand how we move forward, and it just took a minute to understand the details of the situation, because it’s complicated," she added. "We are a family, but there’s also a huge business side of our family. So I think that there was clarity that needed to be had."

In his motion for fees, Michael said he played a role in the settlement being reached.

His attorney wrote, "After Lisa Marie’s death, the Promenade Trust was the subject of litigation, primarily focused on who should be the trustee. To protect and represent their interests in this litigation, Finley and Harper sought and secured the court appointment of their father, Michael Lockwood, to serve as their Guardian Ad Litem.”

“Through the significant efforts and contributions of the parties, including Mr. Lockwood and his counsel, all disputes surrounding Lisa Marie’s estate were amicably and efficiently resolved, and that settlement was approved by this Court on August 4, 2023," his lawyer said.

His lawyer continued, “From the outset, Michael and his counsel played a central role in helping keep the parties focused on resolving those issues with minimal court intervention.”

The judge agreed and signed off on the request.