Lisa Marie Presley’s trust: Ex-husband Michael Lockwood fights to represent daughters in court hearing

Singer Lisa Marie Presley and musician Michael Lockwood in 2015. Photo / Getty Images

Lisa Marie Presley’s ex-husband Michael Lockwood is bidding to represent their daughters in an upcoming court hearing.

The 61-year-old guitarist – who had twins Harper and Finley, 14, with the actress, who was died aged 54 on January 12 from a double-heart attack – has filed papers to stand for the children’s interests in a hearing that involves Lisa Marie’s multi-million dollar trust.

Lockwood, who was married to the late singer from 2006 until 2021, says in his documents, obtained by TMZ, he wants a judge to appoint him ”guardian ad litem” for the girls and allow him to speak on their behalf.

There are mounting tensions in the Presley family over Lisa Marie’s trust, which included two life insurance policies totalling $35 million.

Lisa Marie’s mother Priscilla, 77, who was married to her dad Elvis from 1967 before their divorce in 1973, was originally a trustee but was removed a few years before the singer’s death and replaced by her oldest daughter, actress Riley Keough, 33.

Lisa Marie’s will also contains the rights to Elvis’ Graceland mansion and a 15 per cent stake in Elvis Presley Enterprises.

Lisa Marie Presley with her mother, Priscilla Presley, and daughters, Harper Vivienne Ann Lockwood, Riley Keough, and Harper's twin Finley Aaron Love Lockwood. Photo / Getty Images

A 2016 amendment to her will saw Lisa Marie remove Priscilla, leaving Riley and her son Benjamin Keough as her heirs – before Benjamin’s suicide in 2020 aged 27 left Riley as her sole heir.

Priscilla is now challenging the amendment and Michael is understood to be on her side, which may put them on a collision course with Riley in court.

It’s understood Lisa Marie and Priscilla were barely speaking due to the actress siding with Michael in his long and bitter divorce from the singer – despite the fact they appeared in public together, including at the Golden Globes, where Austin Butler, 31, won best actor for playing The King in Baz Luhrmann’s Elvis biopic two days before Lisa-Marie’s death.

Michael had been receiving $40,000 (NZ$64,000) a month in child maintenance from Lisa Marie for their twins.

Lisa Marie was left Elvis’ entire estate in his will when he died in 1977 aged 42, and she took control of the trust aged 25 in 1993.

Elvis was worth only around $5 million (NZ$8 million) when he died, but Lisa Marie brought in millions by turning Graceland into a tourist attraction and setting up Elvis Presley Enterprises to cash in on his image and legacy.