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Lisa Marie Presley's mother Priscilla Presley recently contested becoming in charge of Lisa's Trust. According to court documents filed a few years ago, things are different compared to what Priscilla had been expecting.
Priscilla appealed to the court on January 26, 2023, and challenged the validity of the amendment where her own name was removed as a trustee alongside Barry Siegel. Siegal has been Lisa's business manager in the past. The amendment mentioned Lisa's children Riley and Benjamin as the trustees.
Priscilla's demands remain unknown and her representative has not commented on anything so far. Priscilla's legal documents mention:
"Accordingly, in such event, Riley would become a co-trustee with [Priscilla] with respect to the trust and all trust created thereunder. Notwithstanding the foregoing, since Riley is over the age of 30, she may act as a co-trustee of her subtrust upon delivering a written instrument signed by her consenting to act in such capacity."
The legal documents requested the judge to verify the amendment since her daughter's signature looks different in the document. Priscilla stated that she never received the document and that she has doubts about the date of the amendment. She added that her daughter's name was incorrectly written and that Siegel could possibly step down as a co-trustee of the Trust.
Lisa Marie Presley was going through some financial problems
Despite having a successful career in the music industry, Lisa Marie Presley faced financial troubles. Her father Elvis Presley was known for spending a lot on luxury and invested a lot in Graceland. The estate price was reported to be around $5 million at the time, but it was reduced to $1 million.
When Lisa became the heir of the estate, she planned to make a few changes, and the price was estimated to be $100 million at the time. She hired Barry Siegel to keep track of her funds, and Barry proposed a deal of $100 million for selling 85% of Elvis Presley Enterprises.
Lisa's savings were over at one point when she spent a lot on her maintenance and claimed that Siegel's mismanagement was responsible for financial issues. She had to suffer some huge losses and had a debt of $500,000 left to pay for her credit card.
According to CBS News, Lisa Marie Presley had only $14,000 left with herself and she later fired Siegel. She also filed a lawsuit against Siegel in 2017 for reckless and negligent management of Graceland.
Siegel stated that Lisa's excessive spending was the reason she lost all the money and that he had addressed her about the same in the past. According to Siegel, Lisa's habits brought problems to her estate with a debt of $20 million by 2003. Lisa claimed that she did not receive any such advice.
According to the court documents about Lisa and Michael Lockwood's divorce, Lisa had to pay $16 million in unpaid taxes and attorney and credit card bills. Lockwood then demanded attorney fees worth $450,000 from Lisa.
Lisa Marie Presley was hospitalized at the time of her death
Lisa Marie Presley suffered a cardiac arrest which led to her death on January 12, 2023. Her housekeeper discovered Lisa unresponsive inside her bedroom.
As soon as her ex-husband Danny Keough arrived home from dropping their kids off at school, he performed CPR on her, after which paramedics took over. Lisa was transported to West Hills Hospitals and Medical Center where she was given a temporary pacemaker and was in an induced state of coma.
Lisa's condition did not improve and she was announced dead. She has had some health issues in the last few years. A few people also spotted Lisa appearing unsteady at the Golden Globe Awards, which she attended before her demise.
