Priscilla Presley is challenging 'the authenticity' of a 2016 amendment removing her as co-trustee of Lisa Marie Presley's trust and replacing her with granddaughter Riley Keough
Elvis’s widow claims in a new court filing that since Lisa Marie’s Jan. 12 death, she has “discovered” a disputed document seeking to remove her and former business manager Barry Siegel as co-trustees of her daughter’s Promenade Trust. The origins of the alleged amendment were not clear from the 2016 filing.and now-deceased son Benjamin Keough as replacement co-trustees, the new filing in Los Angeles County probate court reads.
The position is a powerful one. According to SEC filings, The Promenade Trust retained a 15 percent interest inEnterprises — the company that controls Graceland and the licensing of Elvis Presley’s intellectual property — after Lisa Marie sold an 85 percent share of the business for $50 million in cash, more than $22 million in stock and the repayment of debts topping $25 million in 2005.
“There are many issues surrounding the authenticity and validity of the purported 2016 amendment,” Priscilla and her lawyer claim in the new 13-page filing obtained byThey allege the document was “never delivered” to Priscilla during Lisa Marie’s lifetime, as required by “express terms” of the trust agreement, that it misspells Priscilla’s name, that it wasn’t witnessed or notarized and that “Lisa Marie’s signature appears inconsistent with her usual and customary signature.
Importantly, they say the signature page does not contain any text of the actual amendment “which can present a higher risk for fraud.” For these reasons, they’re asking for a court order “determining that the purported 2016 amendment is invalid, confirming the validity and existence of the restated 2010 trust, and confirming that petitioner is a current trustee of the trust.”Rolling Stone.
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