Lisa Marie Presley owed millions to the IRS when she died earlier this month, but she had $35 million in life insurance policies, according to “family sources” who spoke with TMZ. The only daughter of Elvis Presley had taken out at least two life insurance policies, and had recently tried to cash in on the larger policy to pay off her government debt but, due to an error in the paperwork, it was never processed. Presley’s children, 14-year-old twins Finley and Harper Lockwood, were named beneficiaries of the policies, along with daughter Riley Keough, who replaced Lisa Marie’s mother, Priscilla Presley, as trustee of the family trust in 2016. But a storm is brewing over the funds, with Priscilla challenging the validity of the amendment that cut her out of what now amounts to a fortune, according to TMZ.
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