Priscilla Presley thinks she should be in charge of her daughter Lisa Marie Presley’s estate – but a legal document filed seven years ago suggests that wasn’t what the singer-songwriter wanted if she died . It’s the latest twist in Lisa Marie’s complicated financial story.
Lisa Marie, the only daughter of Elvis Presley, died on January 12 following cardiac arrest.
On Thursday, Priscilla, 77, filed paperwork challenging the authenticity of a 2016 amendment apparently brought by Lisa Marie that removed her as trustee. In the purported amendment, Lisa Marie named her adult children, daughter Riley Keough and son Benjamin Keough, as joint successor directors and fired Priscilla and her former business manager, Barry Siegel, whom she appointed in 2010. Benjamin died in 2020, so under the amendment Riley would be the sole director.
In the document obtained by Yahoo Entertainment, Priscilla asked a judge to determine the validity of the trust clause. The matriarch says Lisa Marie’s signature on the 2016 document “seems inconsistent with her usual and customary signature.” The amendment was apparently never notarized and Priscilla alleges the document was never delivered to her as required by the terms of the 2010 arrangement. The matriarch says the date of the 2016 amendment is suspicious. He also seems to misspell Priscilla’s name. Priscilla wants the court to reaffirm the 2010 trust.
Priscilla believes Siegel “has already resigned or will soon resign as co-trustee of the Trust”.
“Accordingly, in such an event, Riley would become co-trustee with [Priscilla] in respect of the trust and any trust created under it. Notwithstanding the foregoing, since Riley is over 30, she may act as co-trustee of her sub-trust by delivering a written document signed by her consenting to act in that capacity,” the document reads.
It’s unclear what Riley wants, though. Yahoo contacted representatives for Riley and Priscilla, but did not immediately receive a response.
One thing is for sure: there’s no way Lisa Marie has Siegel near her money and assets. In 2018, Lisa Marie sued the businessman and accused him of negligence and mismanagement of his finances. According to documents released in the $100 million lawsuit, Lisa Marie claimed she only had $14,000 in cash in 2016.
Lisa Marie claimed that Siegel caused her “financial ruin,” according to the lawsuit obtained by CBS News, and that she was “damaged in an amount that has not yet been fully determined, but would exceed $100 million.” dollars”. At one point, Lisa Marie claimed she was $16 million in debt.
Siegel counterattacked Lisa Marie and demanded $800,000 in unpaid bills. He claimed that she spent all the money from her father’s inheritance on his lavish lifestyle.
It has not been made public what happened with the dueling suits. To further complicate financial matters, Lisa Marie was in a contentious legal battle with ex-husband Michael Lockwood, with whom she shares 14-year-old twins Finley and Harper. They fought over money and custody. Whoever takes control of Lisa Marie’s estate probably has a lot of issues to deal with.
Priscilla is credited with turning Graceland into a huge financial success for the family. Elvis’ former estate will go to Lisa Marie’s three daughters following his death. This is where she was buried.
Priscilla is still mourning the loss of her daughter. In a Facebook post on Thursday, she again thanked the supporters.
“I am truly overwhelmed by your words, prayers, love and support. Thank you from the bottom of my heart for trying to help me through this loss. Every parent who has lost a daughter or son knows what it is. a dark is a laborious journey,” she wrote.
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