Elvis' Memphis estate was crippled after the pandemic as it defaulted on a huge bonds payment - sparking a bitter fight between the house and the state.
The suit followed her 2021 divorce from musician Michael Lockwood. During the divorce proceedings, Presley claimed she was $16 million in debt, with most of that stemming from unpaid taxes, according to TMZ.
According to Forbes, Elvis Presley's estate makes him one of the wealthiest dead celebrities today. The publication estimates that the Presley estate earned $23 million in 2020 alone. A majority of this money comes in through Graceland, which earns around $10 million annually during a typical year.
The fate of Elvis Presley's Graceland mansion has been revealed. The Memphis, Tenn. estate will be inherited by Lisa Marie Presley's three daughters—Riley Keough and Harper and Finley Lockwood—following her death at age 54, a representative for Graceland confirmed to E! News on Jan. 17.
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According to People, Lisa Marie's three daughters – actor Riley Keough, 33, and twins Harper and Finley Lockwood, 14 – will inherit Graceland in Memphis, Tennessee.
Lisa Marie Presley was the sole heir to the sprawling 13-acre estate following Elvis' death in 1977. Per People, the Memphis mansion will now go to her three daughters, including actor Riley Keough. "Graceland was given to me and will always be mine," she told USA Today. "It will never be sold."
Elvis Presley's famous Graceland mansion in Memphis, Tennessee, is staying in the family following the death of his daughter. Lisa Marie Presley inherited the 13.8-acre, 23-room estate from her rock'n'roll legend father after he died in 1977, when she was nine.
The Upstairs Remains Off Limits
It was there, in his bathroom, that Presley's body was found on Aug. 16, 1977. After the home was opened to the public in 1982, the second floor was sealed shut out of respect to the family — and also to avoid any macabre attention at the scene of his death.
Brown / Getty Images / AFP. Over the years, the trustees decided to open Graceland up to the public via a variety of tours and overnight stays. Elvis purchased the home in 1957 for $US100,000 ($A143,500). In 2020, Rolling Stone reported its estimated worth to be as much as $US500 million ($A718 million).
Who Will Inherit Graceland? Lisa Marie's three daughters will split the inheritance of Graceland via a trust. That includes Riley Keough, 33, Lisa Marie's daughter from her first marriage to musician Danny Keough, and twins Harper and Finley Lockwood, 14, from the singer's second marriage to Michael Lockwood.
Prior to her death, she was worth $16 million.
Did Ginger Alden Attend Elvis' Funeral? Yes. As his fiancée at the time, it is believed that Ginger Alden was present for Elvis' funeral. Following the funeral, however, she was reportedly banned from Graceland by Presley's family and had to receive permission to visit his grave.
Who was Colonel Tom Parker, Elvis Presley's manager who allegedly stole over half of his millions? Inside their controversial connection, depicted in Baz Luhrmann's new biopic.
At the moment of their divorce Priscilla received a cash payment of $725,000, child support payments, spousal support payments, 50% of the sale of the couple's Beverly Hills house and 5% royalties from Elvis Presley's publishing companies.
Following her death, Elvis Presley's legendary Tennessee estate will be passed down to her three children, Riley, Harper, and Finley.
Who attended Elvis Presley's funeral? An estimated 200 people attended Elvis' funeral, including his close friends and family. Many stars were at the funeral, including: John Wayne, Burt Reynolds, George Hamilton, Ann-Margret and Caroline Kennedy. Colonel Tom Parker, Elvis' long time manager was also there.
The documents outline how the estate will be split between Lisa Marie's family members and specify that Priscilla will be buried at Graceland as near as possible to Elvis, her ex-husband.
The house on the Graceland estate is a Colonial revival stone-laid mansion fitted with tall white columns. Inside the 17,552 square-foot-home is 23 rooms, including eight bedrooms, eight bathrooms, and five staircases.
Elvis Presley Exhibits, Graceland Mansion Museum, Memphis, Tennessee on Jan. 4 1985. The mansion boasts 17,552 square feet of space and 23 rooms, including eight bedrooms and four bathrooms.
The King of Rock and Roll died upstairs at Graceland and to this day it's off-limits to the public. However, Elvis Presley's private area is still perfectly preserved at his daughter Lisa Marie's request. It's the job of Director of Archives Angie Marchese to maintain Elvis' bedroom and other rooms just as he left it.
Presley was found unresponsive at Graceland, his Memphis mansion, around 2:30 p.m., The New York Times reported. His then-fiancee Ginger Alden found Presley lying unconscious on the floor of the master suite bathroom, according to PBS. He was rushed to the hospital, where he was pronounced dead at 3:30 p.m.
It is also home to Presley Motors, the new automobile museum, as well as two restaurants, Discovery Exhibits and a Soundstage. Since opening to the public in 1982, Graceland has hosted more than 20 million visitors from every state in the union and nearly every country of the world.
Whether you come to explore the legend's estate, or want to create a legendary event of your own, plan your stay at The Guest House at Graceland. It's a whole new way to experience the magic of Memphis — and a special place where rock 'n' roll lives forever.