LOS ANGELES — Priscilla Presley is challenging the alleged amendment of the trust of her daughter, late singer Lisa Marie Presley, that would give her grandson control of rock and roll’s most iconic property.
Lisa Marie was 54 years old He died on January 12th In Los Angeles. On Thursday, a lawyer representing Priscilla filed a petition in Los Angeles County Superior Court seeking to refute an amendment in Lisa Marie’s trust that would give Lisa Marie’s 33-year-old daughter, Riley Keough, control of the trust and, in fact, Elvis. Presley’s estate.
Attorney Brian M. Malloy argues in his submission that the purported document to amend the trust to remove Priscilla as trustee is invalid.
It alleges that Priscilla was not notified – as required – of the amendment, that it exists only as a PDF copy, that it includes a signature purporting to be Lisa Marie but that appears to be inconsistent with her handwriting and that it contains Lisa Marie’s signature on a blank page devoid of language relating to the amendment.
While Priscilla and business manager Barry Siegel are named as current trustees, a potential reshuffle from 2016 will essentially shift that responsibility to que. As she named her brother, Benjamin Keoughas trustee before his death in 2020.
The petition seeks to have the court declare the alleged amendment invalid and the 2010 version of the trust—with Priscilla and Siegel as co-trustees—in effect.
The petition says Siegel will likely exit the trust agreement soon, giving Keough a place as co-trustee alongside her grandmother.
Representatives for Keough, Lisa Marie and Priscilla did not immediately respond to a request for comment. Attorneys for Siegel and Priscilla also did not respond to requests for comment.
Priscilla, 77, is believed to have successfully revived Elvis’ estate during debt’s darkest days. The filing indicates that she wants to retain control of the trust.
It is not clear how much money could be at stake. The estate has had its ups and downs which include debt reports and nine figure value estimates.
In 2005, Lisa Marie sold a large portion of her holdings in the Elvis business, and upon her death retained 15% ownership of Graceland Holdings, the parent company of Elvis Presley Enterprises. The latter operates Graceland, the tourist destination that is Elvis’ final resting place, and licenses related productions, concert tours, and events.
Lisa Marie wholly owned the Graceland Mansion in Memphis, Tennessee, according to Allure. This includes more than 13 acres, as well as many of Elvis’ remaining personal effects, such as costumes, wardrobe, trophies, furniture, and cars, according to Graceland.
“She made her father’s mansion and personal belongings permanently available for tours of Graceland,” she says.
Lisa Marie, whose cause of death has not been determined, was Buried in Gracelandher childhood home, next to her son Benjamin.
Spokesman for the estate has He said Lisa Marie’s three surviving children—Keough and twins Harper and Finlay Lockwood—will inherit Graceland.