Lisa Marie Presley’s Ex-Husband Awarded Six-Figure Payout From Elvis’ Trust

Michael Lockwood, Lisa Marie Presley’s Ex-Husband, Granted Six-Figure Payout From Trust Holding Most Of Elvis’ Estate

A judge has granted Michael Lockwood, the late Lisa Marie Presley’s ex-husband, a large payout from Elvis’ trust fund.

According to court documents obtained by In Touch, a Los Angeles Superior Court judge granted Michael’s motion asking for reimbursement from the trust. He requested a six-figure payout to cover legal fees he accrued on behalf of his and Lisa Marie’s teenage twin daughters, Harper and Finley Lockwood.

Michael filed his petition in March 2024. The hearing was delayed until August after a judge ruled that “additional evidence” was needed to grant his request.

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. https://t.co/7w38iYp6lh

— In Touch Weekly (@intouchweekly) August 21, 2024

That hearing has since taken place.

According to the court documents In Touch viewed, a judge ruled that Michael should receive a payment of $188,275.32 from the Promenade Trust. This trust holds most of Elvis’ estate, including his Graceland mansion in Memphis, Tennessee.

As the trustee of the Promenade Trust, Lisa Marie’s oldest daughter, Riley Keough, will issue the payment to Michael. The court’s order states that $94,137 of his $188,2575.32 payout shall be taken from Harper and Finley’s interests in the trust.

Why Did Michael Lockwood Request This Payment?

After Lisa Marie died in January 2023, Riley became the sole heir of her estate and Elvis’ Graceland. She also serves as the trustee of the Promenade Trust and oversees the sub-trusts for her younger half-sisters.

Riley assumed this role after some legal back-and-forth with her grandmother, Priscilla Presley. But the two women worked things out in court and remained on good terms.

During Priscilla and Riley’s legal battle, Michael served as Harper and Finley’s Guardian Ad Litem. Because of this, he filed his March 2024 petition on their behalf.

Michael originally requested a payment of $153,647.32.

“…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,” said Michael’s attorney. “Importantly, Michael was able to achieve his goal of ensuring the court issues were all resolved effectively and cost-efficiently so Finley and Harper would have the financial resources their mother intended.“

Michael Lockwood and Lisa Marie Presley married in 2006 and welcomed Harper and Finley in 2008. Lisa Marie filed for divorce in 2016, and their divorce was finalized in 2021, two years before her death.