The documents seek confirmation that Priscilla Presley will maintain control of Lisa Marie Presley's trust in the wake of Priscilla's death.
Priscilla Presley is asking a judge to declare that a"purported" 2016 amendment to her late daughter's trust naming Riley Keough as a co-trustee is invalid, according to legal documents obtained by NBC News.
Lisa Marie Presley, the sole heir to her father Elvis Presley, executed a living trust in 1993, a legal mechanism for protecting one's assets and determining how they will be distributed after they die,. According to the court filing, the trust was"completely restated" on Jan. 27, 2010, and appointed Priscilla Presley and her former business manager, Barry Siegel, as co-trustees.
In 2018, Lisa Marie Presley had sued her former manager Siegel accusing him of mismanaging her finances,. By 2016, the trust was left with more than $500,000 in credit card debt and $14,000 in cash, per Lisa Marie Presley's lawsuit. Siegel filed his own suit accusing her of squandering her inheritance.
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