Priscilla Presley has filed legal documents to determine who is in charge of her late daughter Lisa Marie Presley’s estate.
The filing last week in Los Angeles Superior Court challenges the legality of a 2016 amendment to Lisa Marie Presley’s living trust that replaced Priscilla Presley and a former business manager as trustees with Lisa Marie Presley’s two oldest children, Riley Keough and Benjamin Keough, if she died or became incapacitated. Benjamin Keough passed away in 2020.
A living trust is a type of estate planning that allows a person to control their assets while they are alive while also distributing them when they die. If a separate will is not filed, it functions as a will, as appears to be the case with Lisa Marie Presley.
Lisa Marie Presley, a singer and Elvis Presley’s only child, died on Jan. 12 at the age of 54 in a California hospital after paramedics responded to a 911 call reporting a woman in cardiac arrest. The Los Angeles County coroner is investigating, but no cause of death has been determined. On Jan. 22, she was laid to rest at her family’s home, Graceland.
Lisa Marie Presley, Elvis Presley’s only child, dies at the age of 54 after a brief hospitalisation.
According to Priscilla Presley’s court filing, there are several issues that call the living trust amendment’s authenticity into question.
According to the filing, they include failing to notify Priscilla Presley of the change as required, misspelling Priscilla Presley’s name in a document allegedly signed by her daughter, an unusual signature from Lisa Marie Presley, and a lack of a witness or notarization. It requests that a judge declare the amendment unconstitutional.
According to the filing, the business manager, Barry Siegel, intended to resign, which would leave Priscilla Presley, 77, and Riley Keough, 33, as co-trustees under the previous terms of the trust.
Lisa Marie Presley was survived by three children. She had 14-year-old twin daughters with her fourth husband, Michael Lockwood, in addition to Riley Keough, her daughter with first husband Danny Keough.
Priscilla Presley’s filing is one of the first of many legal manoeuvres surrounding Lisa Marie Presley’s estate, Elvis Presley’s sole heir.
However, it is unclear how much that estate is worth. According to a lawsuit filed in 2018 by Lisa Marie Presley alleging Siegel mismanaged the trust, it was worth more than $100 million, but the majority of that had been depleted.
