Lisa Marie Presley

8 Feb 2023 · 1 min

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In this commentary, the speaker outlines the situation surrounding Lisa Marie Presley’s $35 million life‑insurance policy that was placed in a trust for her children. The speaker explains that Presley’s ex‑husband, Michael Lockwood, is seeking appointment as trustee of that trust, despite Presley’s accusations that Lockwood previously squandered and misused family funds. The speaker argues that if Lockwood becomes trustee he would gain total control over the substantial assets, and uses the case to emphasize a broader lesson: the individual named as trustee must be trustworthy, as they wield significant power over an estate plan and future assets.

Chapters

So today we're talking about Lisa Marie Presley's $35 million insurance policy trust. She left this insurance money in trust for the kids, but her ex-husband is trying to become the trustee of that trust. Lisa Marie is arguing that her ex, Michael Lockwood, has squandered family money in the past and misused it, and he'll do the same thing here. If he becomes the trustee of that $35 million, he will have total control. The takeaway here is that the person you name as trustee of your trust must be trustworthy. They will have a huge impact on your estate plan and your future assets.