In Touch exclusively reports that Michael Lockwood’s demand for a six-figure sum for his daughters, Elvis Presley’s granddaughters, has been delayed. A Los Angeles Superior Court judge ruled that additional evidence is needed to approve his petition for fees from the Promenade Trust.
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Background of the Estate
The Promenade Trust holds most of Elvis Presley’s estate. After Lisa Marie Presley’s death in 2023, her daughter, Riley Keogh, 35, was appointed administrator. Lisa Marie left about $30 million to her three children: Riley, and her 15-year-old twins Harper and Finley. Initially, Riley’s grandmother, 79-year-old Priscilla Presley, challenged Riley’s appointment as sole administrator.
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Priscilla claimed that her daughter wanted her to be the co-administrator of the estate. However, Priscilla gave up her fight after Riley agreed to pay her $1 million. In addition, Riley will pay $400,000 for Priscilla’s legal fees.
Role of Michael Lockwood
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Michael Lockwood, 63, was appointed guardian of Harper and Finley, Lisa Marie’s twins. Lisa Marie and Michael were married from 2006 to 2016. They fought for custody for years and continued to argue months before his death.
In March, Michael filed a petition on behalf of Harper and Finley. He demanded that Riley pay the legal fees incurred following Lisa Marie’s death. He said, “After Lisa Marie’s death, the Promenade Trust became the subject of litigation, primarily focused on who should be the trustee. To protect and represent their interests in this litigation, Finley and Harper sought and obtained a court appointment of their father, Michael Lockwood, as their Guardian ad Litem.”
Contribution to the Agreement
Michael continued, “Through the significant efforts and contributions of the parties, including Mr. Lockwood and his attorney, all disputes surrounding Lisa Marie’s estate were resolved amicably and efficiently, and that settlement was approved by this Court on August 4, 2023.”
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He emphasized that his continued service as Guardian ad Litem is needed for other issues related to the Promenade Trust. He claimed that his involvement helped Riley and Priscilla resolve their issues. His lawyer said, “From the beginning, Michael and his counsel played a central role in helping the parties stay focused on resolving those issues with minimal court intervention. Importantly, Michael was able to achieve his goal of ensuring that all court issues were resolved effectively and cost-efficiently so that Finley and Harper could receive the financial resources their mother required.”
Request for legal fees
Michael asked Riley to pay him $153,647.32 in legal fees. He argued that his efforts were crucial in resolving disputes involving Lisa Marie’s estate. A hearing was recently held, but the judge decided not to rule on Michael’s plea.
The judge said Michael needed to present additional evidence before his request could be granted. A new hearing has been scheduled for August. This delay means Michael’s demand for the six-figure sum remains unresolved for the time being.
Source: https://th-xuyenmoc.edu.vn
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