Lisa Marie Presley, Elvis' daughter, suffered a $2 million tax debt as a result of the divorce battle

Lisa Marie Presley, Elvis' daughter, suffered a $2 million tax debt as a result of the divorce battl ...

Elvis Presley''s legacy has been tangled and controversial. Presley, who is famously known by hisadoring fans as The King, has a legacy that has been ruined as society looks back at his reign a bit differently. Lisa Marie Presley, Elvis'' only child, recently exposed her finances in court as she continues her battle with her ex-husband Michael Lockwood.

In a court filing obtained by Radar Online, Lisa Marie revealed her staggering tax debt. On September 2nd, 2021, she signed the assets and liabilities schedule. Lisa Marie stated that she did not own any property and described various pieces of jewelry of unknown worth.

Elvis daughter stated that she did not have a savings account, but that she did have several checking accounts with little funds. She claimed to have $300 in her wallet and $880k in a 401(k) from the Graceland government. She also stated that she was involved in several Elvis-related trusts, including the Promenade Trust.

Michael and Lisa Maries'' ex claim she had power over a $65 million trust established by her father. She listed $1,011,239 in IRS taxes, another $505k to the State of California (for the years 2017 through 2019) and $625k in state taxes in New York (for the years 2015 through 2019).

Lisa Marie paid $200k in legal fees, $2k to Maserati, $23k to Fidelity 401k, $1.38 million to Barclays Bank, and $2 million to Elvis Presley Enterprises for her advances she received in the filing in 2018.

Lisa Marie''s total debts were indicated as $6.3 million in the petition. Michael believed his ex-information wives were false and suppressed a whole lot of information. Lisa Marie claimed to earn roughly $100,000 per month, have $50,000 in the bank, and $724,000 in shares. She said she owed $3 million in real estate.

Lisa Marie received $26,500 on rent, $3,500 on health care, $5,500 on groceries, $3,500 on eating out, $400 on clothes, $15,500 on her twins schooling, $5,500 on presents, and another $50,500 on monthly loan payments. According to the filing, she is still paying $657k for child support.

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