lisa marie presley has been forced to hand over all financial documents relating to her personal and business fortunes in court as her current divorce case heats up, and it doesn't appear as though it will be cooling down anytime soon.

Michael Lockwood believes Presley owes him

As previously reported, Lisa Marie Presley is currently in the middle of nasty divorce proceedings from her fourth husband, Michael Lockwood. Lockwood is asking for around $40,000 per month for spousal support, and he wants the King's only known daughter to fork over hundreds of thousands he claims he is racking up in legal costs.

Trusted the wrong people with her fortune

Michael Lockwood's demands do not come as a huge surprise to anyone, however, what does shock lifelong Elvis and Lisa Marie Presley fans is the fact that Lisa claims she is more than $16 million in debt. Things are tough all over, but, no one really suspected that Lisa Maria is completely broke. She also owes the government unpaid back taxes from 2012-2015 in excess of $10 million.

Lisa Marie Presley's financial status is so bad according to TMZ reports that she has been forced to sell her home in the U.K. because she is in default to the tune of $6 million. The list is rather long but mostly consists of credit card debt and legal fees. Fans are, however, questioning what happened to Lisa Marie Presley's huge inheritance left to her by her late father, the King of Rock and Roll, elvis presley?

First off, according to past People magazine reports Lisa's huge inheritance back in 1977 was not quite as large as one would expect. It was reported that in 1977 Elvis Presley's fortune had allegedly dwindled down to around $5 million.

Presley did not actually take charge of her inheritance until her 25th birthday. But, by that time, the trust was said to be valued at $100 million.

About a decade later it was revealed that Lisa Marie sold 85 percent of Elvis Presley Enterprises for $100 million and to date, the Elvis estate still brings in over $20 million per year.

That being said, divorce or not, just how did Lisa Marie manage to blow through millions in two decades? According to Presley, she is in financial ruin due to the fact that her funds were mishandled by a business manager, also saying that she has made no money as a musician herself, and today, she is forced to live rent-free with her daughter and pay for two full-time nannies for her twins.

Michael Lockwood claims he is not buying any of her excuses, insinuating that Lisa Marie Presley has more money that she is disclosing and could be hiding funds. Lockwood claims Lisa has always had a huge problem with being honest and has never accepted responsibility for anyone or anything.

The Lisa Marie Presley/Michael Lockwood divorce hearing has been scheduled for February 22, 2018. What are your thoughts on this latest celebrity he said/she said divorce case?
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