By Neil Blincow, in Los Angeles, for Dailymail.Com
21:27 13 April 2023, update 22:04 13 April 2023
- A judge today said there was ‘good reason’ to grant Michael Lockwood’s request to be appointed ‘ad litem guardian’ of twins Harper and Finley, 14.
- The judge said she would issue a written ruling on the motion later today
- This will allow her to represent the girls in a probate case regarding their late mother’s multi-million dollar trust and control her daughters’ inheritance.
Three months after the death of Lisa Marie Presley, her ex-husband Michael Lockwood – who tried but failed to secure some of his millions during their controversial 2021 divorce – may finally end up with some of his fortune.
A Los Angeles judge told a probate court on Thursday there was ‘good reason’ to grant Lockwood’s request to be named ‘ad litem guardian’ of Harper and Finley – his 14-year-old twin daughters. years with Lisa Marie – allowing her to represent the girls in a hotly contested probate case over their late mother’s multi-million dollar Promenade Trust.
The court case has already sparked a giant feud between the twins’ grandmother Priscilla Presley and their half-sister, Riley Keough, star of the hit Prime series Daisy Jones and the Six.
Both Harper and Finley are beneficiaries of Lisa Marie’s trust while their father Lockwood is not. But being declared a legal guardian gives the 61-year-old musician control over his daughters’ inheritance, at least until they reach adulthood at 18.
Lockwood’s attorney, Scott Rahn, told Los Angeles Superior Court Judge Lynne Scaduto on Thursday, “Mr. Lockwood is the girls’ father, he is their natural guardian. He is more than capable of protecting their interests.
Noting that there was no opposition to Lockwood’s motion from either Priscilla Presley or Riley Keough, the judge told the court: “There are good reasons for appointing a guardian ad litem for the girls. “
She added that she would issue a written decision on Lockwood’s petition later today.
Judge Scaduto’s apparent positive take on Lockwood’s petition could give him his second chance to share Presley’s wealth after his first ended in a big zero in his divorce.
Lisa Marie – Elvis’ only child – filed for divorce from Lockwood in 2016 after 10 years of marriage. The two spent years battling over finances and were still negotiating child support for the twins until his death at 54 in January.
Lockwood asked the divorce court in 2018 to order Lisa Marie to pay him $263,000 a year in spousal support so he can ‘enjoy a lifestyle closer to my marital status’ – which included lavish and expensive vacations and flights in private jets.
And he tried to persuade the judge to tear up a post-nuptial agreement – in which he and Lisa Marie both gave up their rights to each other’s property and child support if they divorced.
But Lockwood ended up losing, not getting a dime from Lisa Marie after he openly admitted he hadn’t read the post-nup and claimed his lawyer at the time hadn’t explained it to him.
The judge upheld the postnuptial and dismissed Lockwood’s case, telling the court: “If Lockwood chose not to read the postnuptial and accept the consequences that it would be confirmed, that is his choice.”
Lockwood’s attempt to insert himself into the current probate case involving his ex-wife’s trust is the latest twist in a legal battle that has torn the Presley family apart.
Riley, 33, was furious when her 77-year-old grandmother Priscilla challenged Lisa Marie’s will which gives control of the wealthy Promenade Trust to Riley.
And to make matters worse, musician Lockwood – who allegedly angered Riley by ‘crashing’ his mother’s funeral, even though he wasn’t invited – would be aligned with Priscilla on trust, which could see him also do the line up against Riley in search.
Riley was always supportive of her mother during her long and often nasty divorce and child custody disputes with Lockwood.
It was reported that Priscilla and Lisa Marie “barely spoke” just before the latter’s death after Priscilla sided with Lockwood for custody of the twins.
Multiple sources told People that the mother and daughter aren’t on good terms, despite appearing at several events together, including the Elvis biopic.
“Riley was always on his mother’s side when it came to Michael (Lockwood),” a source told the magazine. “It bothered her that her grandmother and Michael flew out together for (Lisa Marie’s) funeral.”
Priscilla also helped Michael attend the ceremony, despite his late daughter’s wishes.
“Michael wasn’t invited,” a close friend of Lisa Marie told People. “He came to Memphis on the pretext that he was to chaperone the twins – and he broke in with the help of Priscilla.
“The last thing Lisa Marie would have wanted was for Michael to be here.”
The rift between Riley and her grandmother began when Priscilla went to court – just days after Lisa Marie’s memorial service – to challenge her daughter’s 2016 decision to change her will, remove Priscilla and her ex- manager Barry Siegel as directors and replacing them with Riley. .
The will contains the rights to the Graceland mansion and a 15% stake in Elvis Presley Enterprises. Lisa Marie also had two life insurance policies, one for $25 million and another for $10 million.
In addition to replacing Priscilla as trustee and removing her from the will, Lisa Marie’s 2016 amendment also named Riley’s brother Benjamin as another trustee. But Benjamin took his own life in 2020, leaving Riley as the only named heir.
Priscilla’s contested petition to the court questioned the ‘authenticity and validity’ of the trust, claiming Lisa Marie’s signature was ‘inconsistent’ and asking to be reinstated as trustee.
The grandmother-of-four also claimed she had no idea Lisa Marie switched the trust in 2016 until her daughter died.
If Priscilla’s petition is granted, she and Riley will become joint trustees of Lisa Marie’s estate. This motion is to be heard at a hearing on May 16.
Prior to her death, Lisa Marie and her ex shared custody of Finley and Harper and she reportedly paid him $6,000 a month in child support.
But Lockwood – who is now remarried to hairstylist Stephanie Hobgood – was claiming $40,000 a month, insisting Lisa Marie had far more money than she revealed in court documents and claiming her battles divorce and child custody lawsuits had cost him more than $1 million.
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