Priscilla Presley Challenges ‘Invalid’ Amendment to Lisa Marie’s Trust – Rolling Stone

In the wake of her daughter’s sudden death two weeks ago, Priscilla Presley is asking a California judge to intervene and dismiss an alleged 2016 amendment to Lisa Marie Presley’s living trust as «invalid.»

Elvis’ widow claims in a new court filing that since Lisa Marie’s death on January 12, she ‘uncovered’ a disputed document aimed at removing her and former business manager Barry Siegel as co-trustees of her daughter’s Promenade Trust. The origins of the alleged modification were unclear in the 2016 filing.

The alleged amendment, dated March 11, 2016, names Lisa Marie’s daughter, Riley Keough, and her now-deceased son, Benjamin Keough, as replacement co-trustees, says the new filing in the county probate court. Los Angeles.

The position is powerful. According to SEC filings, The Promenade Trust retained a 15% stake in Elvis Presley Enterprises — the company that controls Graceland and licenses Elvis Presley’s intellectual property — after Lisa Marie sold an 85% share of the company for $50 million in cash, plus more than $22 million in stock and repayment of debt exceeding $25 million in 2005.

«There are many issues surrounding the authenticity and validity of the so-called 2016 Amendment,» Priscilla and her lawyer claim in the new 13-page filing obtained by rolling stone.

They allege that the document was «never delivered» to Priscilla during Lisa Marie’s lifetime, as required by the «express terms» of the trust agreement, that it misspells Priscilla’s name, that it has not been witnessed or notarized and that «Lisa Marie’s signature appears inconsistent with her usual and customary signature.

Crucially, they say the signature page contains no actual amendment text «which may present a higher risk of fraud.»

For these reasons, they seek a court order «determining that the purported 2016 Amendment is invalid, confirming the validity and existence of the 2010 Restated Trust, and confirming that the Petitioner is a current Trustee of the Trust.»

Priscilla’s attorney, Brian M. Malloy, did not immediately respond to a request for comment from Rolling stone.

Tendency

TMZ, which first reported the court filing, called the filing a «contentious» decision that pits Priscilla against her granddaughter, Riley Keough. But Riley remains one of the beneficiaries of the trust along with her two surviving sisters, Finley and Harper Lockwood, regardless. Benjamin Keough died by suicide in 2020.

At Lisa Marie’s funeral, Priscilla and Riley Keough shared touching tributes to the singer who died at 54 after being treated for cardiac arrest at her Calabasas home. The official cause of death for Lisa Marie has been deferred by the Los Angeles County Medical Examiner pending «further investigation».

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