Lisa Marie Presley may have triggered legal disagreements with her estate plan.
The life of Lisa Marie Presley was filled with quite a bit of drama through divorces and deaths.
Despite this, it was originally believed Lisa Marie would have a fairly simple estate distribution.
It was expected to simply include her children as heirs and trustees for her estate.
That was to be all there was to it.
Game, set, match.
According to a recent yahoo! Entertainment article titled “Priscilla Presley files to control Lisa Marie Presley’s estate despite Riley Keough being named trustee,” this decision was not accepted by her mother Priscilla Presley.
Priscilla challenged the authenticity of the 2016 estate plan amendment made by her daughter.
In this amendment, Lisa Marie removed her mother and former business manager Barry Siegel as trustees.
In this same amendment, she appointed her daughter Riley Keough and son Benjamin Keough as successor co-trustees.
Consequently, the death of Benjamin in 2020, would leave Riley the sole trustee of the estate.
Why is Priscilla challenging the amendment made by Lisa Marie Presley?
She says the signature on the estate plan amendment is different from the typical signature of her daughter.
The typed name “Priscilla” was misspelled and the date seemed suspicious to the mother of Lisa Marie.
Additionally, the amendment was not notarized or delivered to Priscilla as was required in the 2010 version of the trust.
Priscilla Presley is requesting the estate plan to revert to the 2010 trust provisions.
According to Priscilla, Siegel would resign and not serve as a co-trustee.
Riley Keough would likely serve as a co-trustee along with Priscilla, according to court documents.
Although there is much confusion around the estate, we can be fairly sure that Lisa Marie did not want her ex-manager involved in the estate.
She sued him in 2018 for negligence and mismanagement of her finances.
The $100 million lawsuit claimed Lisa Marie only had $14,000 in cash in 2016.
Her manager counter-sued for $800,000 in unpaid bills.
Siegel claimed Lisa Marie squandered her wealth on her lavish lifestyle.
Lisa Marie also had a legal battle with her ex-husband Michael Lockwood.
Despite the estate concerns over the trust, there seems to be agreement that the Graceland property should be inherited by the three daughters of Lisa Marie Presley.
“Death is not the end; there remains the litigation over the estate.” – Ambrose Bierce
Reference: yahoo! entertainment (Jan. 27, 2023) “Priscilla Presley files to control Lisa Marie Presley’s estate despite Riley Keough being named trustee”