Lisa Marie Presley’s ex-husband Michael Lockwood is terrified the family will try to shut him out and turn his twin daughters against him, RadarOnline.com has learned.
According to sources close to the situation, Michael, who had twins Harper and Finley with Lisa Marie, has grown concerned after Riley Keough and her grandmother Priscilla Presley settled their bitter family feud last week.
As RadarOnline.com previously reported, Riley agreed to pay Priscilla millions to end her battle over control of Lisa Marie’s trust.
Lisa Marie died heavily in debt. She owed $3-$4 million to various creditors including a large amount owed to the IRS. However, she took out life insurance policies that paid out $35 million when she died.
The only beneficiaries of the trust are Riley and her younger sisters, Harper and Finley. Priscilla rushed to court weeks after her daughter’s death demanding to be named co-trustee of the trust.
Priscilla claimed Lisa Marie had appointed her and her ex-business manager Barry Siegel as co-trustees. She noted there was an alleged 2016 amendment to the trust, signed by Lisa Marie, that cut her out and put her oldest daughter in charge.
Another insider believed Riley worked out the deal with Priscilla to ensure Michael was cut out of the family. As the twins’ guardian, Michael will still manage their share of Lisa Marie’s trust.
“Riley is galled Michael has access to the twins’ cash,” said a source. “Priscilla was the only ally Michael had, but Riley wants her to cut ties with him and may have bought her off. He has every right to worry about being left out in the cold!”