Lisa Marie Presley’s trust papers disputed
LOS ANGELES — Priscilla Presley is challenging an alleged amendment to the trust of her daughter, the late singer Lisa Marie Presley, that would give her grandson control of rock ‘n’ roll’s most illustrious estate.
Lisa Marie was 54 when she died on January 12 in Los Angeles. On Thursday, an attorney representing Priscilla filed a motion in Los Angeles County Superior Court seeking to refute an amendment to 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.
The filing by attorney Brian M. Malloy argues that a document purporting to amend the trust to remove Priscilla as trustee is not valid.
He alleges that Priscilla was not informed – as required – of the alteration, that it exists only in PDF copy, that it includes a signature purporting to be that of Lisa Marie but which appears inconsistent with her handwriting, and that it bears the signature of Lisa Marie on a blank page devoid of text relating to the amendment.
While Priscilla and business manager Barry Siegel are named current directors, the potential 2016 amendment would essentially shift that responsibility. at Keough. He also appointed his brother, Benjamin Keough, as administrator before his death in 2020.
The motion seeks that the court declares the purported amendment invalid and that a 2010 version of the trust – with Priscilla and Siegel acting as co-trustees – be in effect.
The petition says Siegel is expected to exit the trust agreement soon, which would give Keough a co-trustee spot alongside her grandmother.
Representatives for Keough, Lisa Marie, and Priscilla did not immediately respond to a request for comment. Lawyers for Siegel and Priscilla also did not respond to requests for comment.
Priscilla, 77, is believed to have managed to revive the Elvis estate during its darkest days of debt. She wants to keep control of the trust, the filing says.
It’s unclear how much money could be at stake. The estate has had its ups and downs, including debt reports and estimates of a nine-figure worth.
In 2005, Lisa Marie sold much of her holdings in the Elvis business, and upon her death, she 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 merchandise, music tours, and events.
Lisa Marie owned 100% of Graceland Mansion in Memphis, Tennessee, according to the attraction. This includes his more than 13 acres, as well as many of Elvis’ remaining personal effects, such as costumes, wardrobe, awards, furniture, and cars, according to Graceland.
“She made the mansion property and her father’s personal effects permanently available for Graceland tours,” he says.
Lisa Marie, whose cause of death has not been determined, was buried at Graceland, her childhood home, next to her son Benjamin.
An estate spokesperson said Lisa Marie’s three surviving children – Keough and twins Harper and Finley Lockwood – would inherit Graceland.
