Priscilla Presley files to control Lisa Marie Presley’s estate
Priscilla Presley is challenging an amendment to Lisa Marie’s trust document, claiming it may be fraudulent.
Almost within the same week of Lisa Marie Presley’s funeral, her mother Priscilla Presley has filed legal documents asking a judge to set aside an amendment to Lisa’s 2010 trust.
Priscilla was once named trustee along with Lisa’s former business manager, Barry Siegel. Recently, she discovered what appeared to be an amendment to the trust that would eliminate both her and Siegel as trustees and appoint Riley and Benjamin Keough, Lisa Marie’s son and daughter, as replacements.
Benjamin Keough passed away in 2020 of an apparent suicide. Riley Keough is an actress, with her most current project a television show titled ‘Daisy Jones & The Six’.
Questioning validity
According to legal documents obtained by TMZ, Priscilla is questioning the validity and authenticity of the amendment, claiming it was never delivered to Priscilla and that the date on the document is suspicious.
She also claims the document misspells Priscilla’s name, and Lisa Marie’s signature “appears inconsistent with her usual and customary signature.”
The alleged amendment occurred in 2016, and Priscilla wants it declared invalid.
Previous legal battles
In 2018, Lisa Marie Presley sued her former manager, Siegel, accusing him of mismanaging her finances, according to Reuters. By 2016, the $100 million Elvis trust was left with no more than $14,000 along with $500,000 in credit card debt.
Siegel was fired and filed his own suit accusing Lisa Marie of squandering her inheritance, claiming Presley had “twice squandered” her inheritance and blamed her “spendthrift ways,” according to Reuters.
It’s unclear how either lawsuit progressed since the initial reports.
A recent report from The New York Post claims Lisa Marie had $95,266 in cash and $714,775 worth of stocks, bonds and other assets, but owed more than $1 million in taxes at the time of her passing according to legal documents made public from a custody battle with ex-husband Michael Lockwood beginning in 2016.
Both fought in court to be granted primary custody of the couple’s twins. At the time of Lisa Marie’s death, she had 60 percent custody while Lockwood held 40 percent.
As of now, Michael has been granted full custody of the twins by default laws. However, TMZ reports that Lisa Marie’s ex Danny Keough and oldest daughter Riley could fight to get custody of the 14-year-old twins.