Why Is Lisa Marie Presley’s Daughter in Big Debt despite Being the Sole Trustee of Her Mom’s Millions?

Lisa Marie Presley’s eldest child recently got hold of her trust fund, but it seems Riley Keough is already facing a legal battle with a debt collector. Keough insisted that she shouldn’t be held responsible for a substantial amount of money tied to a property her late mother owned.

According to Riley Keough’s filing, Lisa Marie Presley purchased an estate in Rotherfield named Coes Hall, a residence boasting 11 rooms. To secure the property, Presley sought financing through a loan from Barclay’s Bank.

Now, Barclay’s is running after Keough to retrieve the $1.6 million outstanding balance Presley owes for Coes Hall. The bank asserts that Presley personally guaranteed them the payment when she received the financial help.

However, Keough disputes these claims, presenting justifications as to why she believes she should not be held responsible for Barclay’s ask. Primarily, she argues that a statute of limitations has expired, given that Barclay’s last day to file a claim was on January 12, 2024.

Keough also revealed that her late mother only guaranteed interest payments on the loan from 2010 to 2015. That way, Keough’s Trust need not cover the outstanding principal.

Interestingly, in 2018, Presley revealed that her business manager, Barry Siegel, had mismanaged her funds and purchased a $9 million residence in England using her Trust. It eventually came to a point where her Trust reached $14,000 only in cash and more than half a million in debt.

In the same year, while her divorce proceedings took place, Presley claimed to have a debt of over $16 million for unpaid taxes, credit card statements, and unpaid legal fees.

There has yet to be a final ruling on Presley’s daughter’s case. Still, after her legal battle with her grandmother over her mom’s estate, Keough has already reportedly lost $1,400,000, the sum which she paid Elvis Presley’s wife for legal fees and settlement.

“When my mom passed, there was a lot of chaos in every aspect of our lives,” Keough said. “We are a family, but there’s also a huge business side of our family. So I think that there was clarity that needed to be had.”

Lisa Marie Presley died on January 12, 2023, at 54 years old. She was found unresponsive in her home and was later pronounced dead at the hospital. She is survived by her mother and three children.