Priscilla Presley Files to Control Lisa Marie Presley's Estate

What is going on down in Graceland!? 

After the tragic death of Elvis Presley’s only daughter, Lisa Marie Presley, on January 12, 2023, Priscilla Presley filed a lawsuit to be in charge of the iconic Estate. 

But a recent amendment made by Lisa Marie Presley to her Living Trust in 2016 has it differently.  

A dramatic twist unfolds in the Presley family saga as Priscilla Presley challenges the validity of the 2016 amendment to Lisa Marie's living trust. 

The disputed move ousted her (Priscilla Presley) and a former business manager, Barry Siegel, from being trustees and put Lisa Marie's two eldest kids in their place, due to the lack of a separate Will. 

Amidst claims of questionable authenticity, the legal battle heats up in Los Angeles Superior Court as now Priscilla Presley is seeking to have the recent amendment to her daughter’s Living Trust in 2016 thrown out due to a series of curious discrepancies.

In the 2010 Living Trust papers Priscilla Presley states that the trustees need to be made aware of any changes made to the trust, including removal of people.

Priscilla Presley argues, she was never informed of the change, her name was misspelled on a document supposedly signed by her daughter, and her daughter's signature appears atypical. The amendment suspiciously seems to have been signed without a witness or notarization indicating a potential fraudulent document.

Priscilla Presley is fighting to regain control as the trustee as she believes the assets may have been mishandled in the past. 

What justifications does Priscilla Presley have for believing the assets were mishandled?

The mysterious financial history of Lisa Marie Presley's trust, which holds ownership of Graceland, began unraveling in 2018 when Lisa Marie Presley accused manager Barry Siegel of mismanagement, causing her $100 million fortune to plummet to a mere $14,000 by 2016. 

Siegel countersued for $800,000 in unpaid bills citing Lisa Marie Presley squandered away her trust on her lavish lifestyle. 

The outcome of that lawsuit has yet to be made public. However, the current worth of the trust remains shrouded in ambiguity.

What does that mean for the iconic estate now? 

That verdict lies in the hands of the judge, who has been asked to declare the amendment invalid.

This is an unfortunate lesson to be learned about Wills, Living Trusts and Estate Planning and the importance of having clear and precise, accurate legal documents established before your death so your wishes can be understood without ambiguity. 

Navigating the complexities of Wills, Living Trusts and Planning for Estate Administration can be daunting which is why it’s essential to hire an experienced estate planning attorney to ensure things are done properly from the beginning. 

A qualified attorney will work with you to create a comprehensive estate plan that accurately reflects your intentions so your property is distributed in accordance with your desires giving you peace of mind.

Estate Planning questions? Need help deciding which document will benefit you? Contact our office today! We are here to answer all your questions.

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