Priscilla Presley disputes Lisa Marie Presley's trust
Priscilla Presley has filed documents to dispute who oversees her late daughter, Lisa Marie Presley's estate.
The documents were filed last week in the Los Angeles Superior Court to dispute the validity of a 2016 amendment to Lisa Marie's living trust.
Lisa Marie Presley previously removed Priscilla and a former business manager as trustees and replaced them with her two oldest children, Riley Keough and Benjamin Keough, if she died or became incapacitated.
Lisa Marie's son, Benjamin Keough, died in 2020.
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A living trust is a form of estate planning that allows a person to control their assets while alive, but have them distributed if they die. It serves the function of a will if a separate will is not filed, as appears to be the case with Lisa Marie Presley.
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Elvis Presley's only child died on Jan. 12 at the age of 54. Lisa Marie was laid to rest at Graceland on Jan. 22.
Elvis Presley and his wife, Priscilla, prepare to leave the hospital with their new daughter, Lisa Marie, in Memphis, Tennessee, on Feb. 5, 1968. (Credit: Getty Images)
Priscilla’s court filing says there are several issues that bring the living trust amendment’s authenticity into doubt.
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The filing says they include a failure to notify Priscilla of the change as required, a misspelling of Priscilla Presley’s name in a document supposedly signed by her daughter, an atypical signature from Lisa Marie Presley and a lack of a witness or notarization. It asks a judge to declare the amendment invalid.
The filing says that the business manager, Barry Siegel, intended to resign, which, according to the prior terms of the trust, would leave Priscilla Presley, 77, and Riley Keough, 33, as co-trustees.
(L-R) Lisa Marie Presley, Priscilla Presley, and Riley Keough attend the Handprint Ceremony honoring Three Generations of Presley's at TCL Chinese Theatre on June 21, 2022 in Hollywood, California. (Photo by Axelle/Bauer-Griffin/FilmMagic)
It is not clear how much the estate of Lisa Marie — the only heir of Elvis Presley — is worth. A lawsuit Lisa Marie Presley filed in 2018 alleging Siegel had mismanaged the trust said it had been worth in excess of $100 million, but most of that had been depleted.
FOX Business has reached out to reps for Priscilla Presley and Riley Keough for comment.