Lessons Learned from the Death of Lisa Marie Presley
Lisa Marie Presley died suddenly at the age of 54 after suffering a heart attack. Lisa Marie suffered many tragedies during her lifetime, including the death of her father, Elvis Presley, at the young age of nine. Lisa Marie inherited multi millions from her father’s estate and while her daughters will inherit Graceland and other assets, her estate would have been worth a great deal more had it not been for bad investments and mismanagement. At the time of her death, Lisa Marie was embattled in a nasty custody battle. She also has a history of financial issues which may result in creditors making claims against her estate, leading to complex and lengthy estate administration. Lisa Marie has a blended family including an adult daughter and 14-year-old twins. They may have different wants and needs and while keeping Graceland may be near and dear to the family legacy, it also comes with maintenance and upkeep expenses.
While your estate may not be as vast or complicated at Lisa Marie’s, her story reminds us that we are not in total control of our own destiny. Even those who have money, fame and access to the best advisors cannot always prevent estate and family conflict. While you may not be able to hinder every obstacle your family may face in the event of your untimely death, it is never too early to start on your plan.