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Priscilla Presley Challenges Lisa Marie's Trust -- She Was Written Out & Replaced With Riley Keough!

Priscilla Presley Challenges Lisa Marie's Trust -- She Was Written Out In 2016 & Replaced By Riley Keough!

Oh no. The Presley family is gearing up for a potentially nasty legal battle over Lisa Marie Presley’s estate!

More than two weeks following the death of the 54-year-old singer-songwriter, Priscilla Presley filed legal documents contesting that she and Lisa’s former business manager, Barry Siegal, were removed as the trustees of her daughter’s estate. According to TMZ, Priscilla apparently found an amendment to the trust, which eliminated both her and Siegal as trustees and appointed Lisa’s children, Riley and late Benjamin Keough, instead. But Priscilla is hoping to change that soon.

Per the court documents, the former wife of Elvis Presley is questioning the validity of the amendment. What makes her skeptical of its authenticity? She claims it was never delivered to her per the terms of the trust, the date on the document is suspicious as the amendment was added onto a PDF on March 14, the document misspelled her name, and Lisa Marie’s signature “appears inconsistent with her usual and customary signature.” And on top of everything, Priscilla noted in the doc that the amendment was neither witnessed nor notarized.

Related: Priscilla Calls Losing Daughter Lisa Marie A ‘Dark, Painstaking Journey’

Lisa Marie reportedly put in place a revocable living trust on January 29, 1993 – which she later amended and restated on January 27, 2010. The court filing states:

“Lisa Marie Presley appointed her mother, Petitioner, and her former business manager, Barry Siegel, as co-Trustees effective as of the date of the 2010 restatement. The 2010 restatement further provides that Petitioner and Barry Siegel shall continue to serve as co-Trustees upon Lisa Marie Presley’s subsequent incapacity and/or death.”

Priscilla then states that she later found out the new document existed with an amendment made on March 11, 2016:

“The Purported 2016 Amendment removed and replaced Petitioner [Priscilla] and Barry as both current and successor Trustees of the Trust with Lisa Marie Presley as the current Trustee and naming Lisa Marie Presley’s daughter, Riley Keough (‘Riley’), and son, Benjamin Keough (‘Benjamin’), as successor co-Trustees of the Trust upon Lisa Marie Presley’s incapacity and/or 10 death. There are many issues surrounding the authenticity and validity of the Purported 2016 Amendment.”

So what does this all mean exactly? Well, things are about to get tricky! Since Lisa cut ties with Siegal in 2018 for allegedly mismanaging her funds and her son Ben died by suicide in 2020, this makes Riley the sole trustee of the estate – meaning Priscilla would be only going up against her own granddaughter for the trust. Plus, the 77-year-old is asking for the court to make the amendment invalid – which would possibly remove the Daisy Jones and The Six star’s power as trustee if things swing Priscilla’s way. Basically, this is going to get very messy and ugly between Priscilla and Riley! Something we would hate to see happen, considering they are going through such a difficult time in their lives following Lisa’s death!

Reactions, Perezcious readers? Let us know in the comments below!

[Image via Apega/WENN, FayesVision/WENN, WENN/Avalon]

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Jan 28, 2023 09:07am PDT