Lisa Marie Presley was reportedly “debt ridden” before her death after spending a vast amount of her inheritance from her late father.
Presley was the daughter of rock and roll legend Elvis Presley and allegedly spent much of her fortune trying to protect herself with life insurance.
The star left her three daughters a whopping $30million (£24million) estate to split between them.
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Lisa took out “up to three” life insurance policies before she died, as discovered as part of the new documentary about her life.
TMX Investigates: Lisa Marie Presley: Unending Tragedy explores the life and death of the daughter of Elvis Presley.
It has been claimed that her estate “became flush with cash” on the day that she passed.
Lisa sadly died on 12 January after suffering from a cardiac arrest.
TMZ producer Katie Hayes spoke to Mail Online about Lisa and her spending habits.
She said: “Lisa was never disciplined about money. She was a big spender and she made some bad investments. She basically blew through $100million (£80.7million) in 25 years.”
TMX executive producer Charles Latibeaudiere also chimed in on the topic.
He said: “We’ve learned that at the time of Lisa’s death, she was $4 million in debt, including $2.5 million still owed to the IRS, but we found that on the day she died, Lisa’s estate was suddenly flushed with cash.”
A third TMZ producer also shared some insight into Lisa’s finances and revealed that she had taken out multiple life insurance policies.
(Image: Corbis via Getty Images)
Harvey Levin also added: “Sources tell us Lisa had taken our life insurance policies. One for $25million and another for $10million, and there may have been a third $10million policy but they’re not sure if it lapsed.”
“Bottom line, there’s more than $30million dollars to be divided among the three kids.”
At the time of her death, Lisa also owned Graceland, which is Elvis’ former estate turned tourist attraction.
Now her three daughters will inherit Elvis’ mansion, but it has been revealed that Lisa and her mother Priscilla were fighting for ownership of Graceland.
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Source: Celebrities - dailystar.co.uk
