LOS ANGELES (AP) — Priscilla Presley has filed legal documents about who controls the estate of her late daughter, Lisa Marie Presley..
A filing in Los Angeles Superior Court last week removed Priscilla Presley and the former business manager from trusteeship, replacing them with Lisa Marie Presley’s two oldest children, Riley Keough and Benjamin Keough. Disputing the validity of the 2016 Amendment to Lisa Marie Presley’s Living Trust. if she dies or becomes incapacitated; Benjamin Keough passed away in 2020.
A living trust is a type of estate plan that allows you to manage your assets while you are alive and distribute them when you die. It serves the function of a will if no separate will is filed, as was the case with Lisa Marie Presley.
Lisa Marie PresleyElvis Presley’s only child and singer.She was buried in her parents’ home Graceland22 January.
Priscilla Presley’s court filings say there are several issues that cast doubt on the credibility of the Living Trust Amendment.
The filing included failure to notify Priscilla Presley of the change when necessary, misspelling Priscilla Presley’s name in a document believed to have been signed by Priscilla Presley’s daughter, and Lisa Marie. It is said to contain anomalous signatures from Presley, lack of witnesses or notarization. Ask the judge to declare the amendment invalid.
Business manager Barry Siegel intends to step down, according to filings, leaving Priscilla Presley, 77, and Riley Keough, 33, as co-trustees, according to the trust’s previous terms.
A message from Riley Keough’s representatives seeking comment was not immediately returned.
Lisa Marie Presley left behind three children. In addition to Riley Keough, a daughter with her first husband, Danny Keough, she had 14-year-old twin daughters with her fourth husband, Michael Lockwood.
Presley was declared divorced from Lockwood in 2021, but the two were still fighting financially in family court when she died.
Priscilla Presley’s allegations are the first of many legal actions surrounding the estate of Elvis Presley’s sole heir, Lisa Marie Presley.
However, it is not clear how much the property is worth. A lawsuit filed by Lisa Marie Presley in 2018 alleges Siegel mismanaged the trust, which was valued at over $100 million, most of which had dried up.
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