LOS ANGELES — Priscilla Presley is challenging an alleged change of trust from her daughter, the late singer Lisa Marie Presley, that would give her grandchild control of rock ‘n’ roll’s most illustrious estate.
Lisa Marie was 54 when she died in Los Angeles on January 12. On Thursday, an attorney representing Priscilla filed a petition in Los Angeles County Superior Court to overturn an amendment to Lisa Marie’s trust that gave Lisa Marie’s 33-year-old daughter, Riley Keough, control of the trust and, in fact, Elvis would give. Presley’s estate.
The filing by attorney Brian M. Malloy argues that a document intended to amend the trust to remove Priscilla as a trustee is invalid.
It claims that Priscilla was not notified – as required – of the amendment, that it only exists as a PDF copy, that it contains a signature that claims to be Lisa Marie’s but that does not appear to match her handwriting, and that it has Lisa Marie’s signature on a blank page. page with no language related to the amendment.
While Priscilla and business manager Barry Siegel are named as current trustees, the 2016 future change would essentially shift that responsibility to Keough. It also named her brother, Benjamin Keough, as trustee before his death in 2020.
The petition seeks to have the court invalidate the alleged change and allow a 2010 version of the trust — with Priscilla and Siegel as co-trustees — to take effect.
The petition states that Siegel will likely leave the trust agreement soon, which would give Keough a seat as a co-trustee 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 said to have successfully revitalized Elvis’ estate during its darkest days of debt. She wants to retain control of the trust, the filing shows.
It is not clear how much money is involved. The estate has had its ups and downs, including reports of debt and estimates of a nine-figure value.
In 2005, Lisa Marie sold much of her interest in the Elvis business and at her death retained 15% ownership in 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 products, music tours and events.
According to the attraction, Graceland Mansion in Memphis, Tennessee was wholly owned by Lisa Marie. That includes the 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 has made her father’s mansion and personal effects permanently available for tours of Graceland,” it read.
Lisa Marie, whose cause of death has not been determined, was buried in Graceland, her childhood home, next to her son Benjamin.
A spokesman for the estate has said Lisa Marie’s three surviving children – Keough and twins Harper and Finley Lockwood – would inherit Graceland.