Priscilla Presley has filed paperwork to contest which is in charge of managing the estate of her late daughter Lisa Marie Presley.
The documents, which contest the legality of a 2016 modification to Lisa Marie’s living trust, were submitted last week to the Los Angeles Superior Court.
If Lisa Marie Presley passed away or proved incapable of managing her affairs, Riley Keough and Benjamin Keough would take over as trustees in place of Priscilla and a former business manager.
Benjamin Keough, Lisa Marie’s son, passed away in 2020.
A living trust is a type of estate planning that enables a person to manage their assets while they are still alive while arranging for their distribution after death. If a separate will is not filed, as it seems to be with Lisa Marie Presley, it performs the purpose of a choice.
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At 54, Elvis Presley’s only child passed away on January 12. On January 22, Lisa Marie was buried at Graceland.
According to Priscilla’s court documents, many problems cast doubt on the validity of the living trust amendment.
A misspelling of Priscilla Presley’s name on a document purportedly signed by her daughter, an unusual signature from Lisa Marie Presley, and a lack of a witness or notarization are among the violations listed in the file, according to the lawsuit. It requests that the amendment be ruled invalid by a judge.
….Lisa Marie Presley’s will. Reviewed by the @latimes, the filing disputes a 2016 amendment to Lisa Marie Presley’s will that allegedly removed her former business manager, Barry Siegel and @Cilla_Presley as trustees and replaced them with her eldest children,….
— Jhawn Paul (@PinkSheepNews) January 31, 2023
According to the petition, the business manager, Barry Siegel, intended to quit, which would have left Priscilla Presley, 77, and Riley Keough, 33, as co-trustees following the previous conditions of the trust.
The value of Lisa Marie’s estate, the only heir to Elvis Presley, remains unknown. According to a lawsuit Lisa Marie Presley filed in 2018, Siegel mismanaged the trust, which had a value of over $100 million but was mainly emptied.
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