– Lisa Marie inherited her father Elvis Presley’s estate when she was 11, with her mother Priscilla Presley named as a coexecutor, along with Joseph Hanks and the National Bank of Commerce in Memphis.
– Lisa Marie formed the Promenade Trust in 1993, with Priscilla and Barry Siegel named as trustees, which established her as the beneficiary of Elvis Presley Enterprises.
– Lisa Marie amended her trust in 2016, naming her adult children Riley and Benjamin Keough as co-trustees and removing her mother and Siegel, but after Lisa Marie’s death, Priscilla has filed a petition challenging the “authenticity and validity” of the amendment.
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Lisa Marie Presley’s sudden death on January 12, 2023, deeply affected her family and the world. The daughter of Rock and Roll legend Elvis Presley and Priscilla Presley, Lisa Marie was recently featured with her family in the spotlight following the release of Baz Luhrmann’s “Elvis” movie, which received critical acclaim. However, tensions between Lisa Marie, her mother, and eldest daughter Riley Keough, have surfaced following her passing. As a result, their relationship and the future of Lisa Marie’s trust have come into question.
According to inside sources, Lisa Marie’s relationship with her mother was not as close as it appeared, and the two had barely spoken since Lisa Marie divorced her ex-husband Michael Lockwood in 2016. After Lisa Marie’s death, a feud began between Priscilla and Riley over trustee duties for Elvis Presley Enterprises (EPE), Lisa Marie’s remaining estate. As a result, the family has been entangled in a bitter legal dispute over the past few months.
Lisa Marie inherited her father’s estate in 1979 following her grandfather’s passing, but her mother was named her coexecutor due to her young age at the time. Priscilla was responsible for overseeing the estate alongside the National Bank of Commerce in Memphis and Joseph Hanks, the Presley family’s longtime accountant. After Lisa Marie turned 25, she became the sole beneficiary, and Priscilla opened up Graceland as a tourist attraction, significantly increasing its value over time.
In 2016, Lisa Marie amended her living trust, removing her mother and former business manager as trustees and adding her two adult children as co-trustees. However, following Lisa Marie’s death, Priscilla contested the trust amendment’s validity, claiming she was not notified of the change while Lisa Marie was still alive. With the outcome of the legal dispute unknown, both Riley and Priscilla would become co-trustees if the filing is voided.
In summary, Lisa Marie Presley’s sudden death has created legal tensions within her family as concerns present themselves over the validity of her trust amendment. The family is working to resolve the matter privately, and the future of Elvis Presley Enterprises remains uncertain.
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