Presley has responded by stating she cannot afford to pay the attorney’s fees because she heavily indebted to the tune of $16 million and her mortgage is in default, plus an IRS bill in the amount of more than one million dollars. She owes approximately $47,000 in credit card debt and another $250,000 in miscellaneous bills.
Lockwood believes none of this true which begs the question, if Presley has lied with discovery requests and/or financial affidavits, then she could face perjury charges since financial affidavits are sworn/notarized legal documents.
If her mortgage is in default, that is resolved easily by having the property appraised minus what is owed on the mortgage to see if there is any equity available.
In addition to her divorce case, Presley suing her former business manager- Barry Siegel according to The Guardian. Presley claims she only has $14,000 in cash. Siegel has counter-sued for an outstanding balance on his fees.
When Lisa Marie turned twenty-five years of age, she inherited $100 million. Her share which amounted to eight-five percent of Elvis Presley Enterprises, was sold and after paying $20 million in outstanding debts, she received $40 million.
Presley claims her father’s inheritance was lost due to the bankruptcy of Core Entertainment, the company associated with the television show American Idol.
Recent court filings from from Presley’s deposition were obtained Radar Online where her struggles with drugs and alcohol are detailed. Presley stated she “abus[ed] cocaine terribly” and had multiple stays in rehab, at least five times. She used painkillers and opioids.
Alexander Hernandez is a family law and bankruptcy attorney practicing in Jacksonville and the surrounding areas and Miami, Florida.