Priscilla Presley & Riley Keough’s Feud

According to damning court documents, Riley Keough was accused of using Priscilla Presley’s daughter Lisa Marie’s “inconsistent signature” and that she was fired from her role as trustee.

Priscilla had to file legal documents to set away an update to Lisa Marie’s 2010 trust. With this change, Riley and the late Ben Keough are added to the trustee list in place of her and her daughter’s previous business manager Barry Siegel.

Ben Keough committed suicide in 2020, making Riley the only trustee for Lisa Marie’s fortune; however, Priscilla seeks to void this change.

Priscilla, who has questioned the addendum’s legality and legitimacy, claims Lisa Marie’s signature “appears discordant with her usual and customary signature,” the addendum’s date is supposedly unusual, and Priscilla’s name is misspelled on the document.

On January 29, 1993, Lisa Marie executed a revocable living trust. She made revisions and rephrased it in its entirety on January 27, 2010.

In a court document, Lisa Marie Presley stated that she had “nominated 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 disability and/or death thereafter.”

In 2018, the daughter of the King of Rock ‘n’ Roll sued Siegel and Lisa Marie, claiming that Siegel had put his personal financial interests ahead of Lisa Marie’s. She then cut off communication with Siegel.

Priscilla discovered an existing agreement with an addendum filed on March 11, 2016, after Lisa Marie went gone, according to her most recent filings.

In court documents, it is stated that “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 death.”

Numerous issues surround the alleged 2016 Amendment’s authenticity and validity.

The court filing goes on to say:

The purported 2016 Amendment was never handed to the petitioner while Lisa Marie Presley was still alive, as stipulated by the clear terms of the Trust.

A.pdf file with the date of the alleged trust change was added on March 14.
The alleged 2016 Amendment, which Lisa Marie Presley is alleged to have signed, misspells her mother’s name.
The details of the claimed 2016 Amendment are not fully forth on the signing page.
Lisa Marie Presley’s signature doesn’t appear to reflect her typical or usual style.
The purported 2016 Amendment was neither witnessed nor notarized.
Lisa Marie Presley, the only child of Elvis and Priscilla Presley, passed suddenly on January 12 at the age of 54. She left behind a rock and roll legacy in addition to a difficult financial road that was paved with setbacks and financial disputes.

Lisa Marie is a singer-songwriter like her father, but she wasn’t well-off enough to rank among Forbes’ highest-paid musicians. In fact, according to some celebrity websites, Lisa Marie may have had a negative net worth at the time of her death.

Lisa Marie still possessed a trust that provided her children the right to inherit Graceland, the former residence of Elvis Presley that is now a well-liked tourist destination, according to a Graceland administrator quoted in the Los Angeles Times.

A complete picture of her financial situation was made public when she sued Siegel in 2018, alleging that he had mismanaged her money and caused her $100 million trust to drop to $14,000 in cash by 2016.

The lawsuit also claimed, according to Reuters, that Lisa Marie had racked up a $500,000 credit card bill.

The lawsuit claims that Lisa Marie began her “11-year odyssey to financial disaster” in 2005.

Although the full extent of Lisa’s losses have not been ascertained, it is thought that she has sustained damages exceeding $100 million.

After formally divorcing musician Michael Lockwood in 2021, she filed the case.

According to TMZ, Lisa Marie claimed that she owed $16 million during the divorce process, the majority of which was owed in unpaid taxes.

Priscilla ascribed the primary reason for her financial issues to a 2005 deal to sell an 85% stake in the Elvis Presley Estate (EPE) to CKX, a media company that also managed the television program “American Idol.”

She received $50 million plus shares in CKX, kept a 15 percent ownership part in EPE, and received the title to Graceland, according to the Associated Press at the time.

Apollo Global Management later paid $509 million to buy CKX.

In Lisa Marie’s case, it was claimed that Siegel used the trust money to buy a $9 million English mansion, putting his own financial interests ahead of hers.

In his own case, Siegel responded by claiming that Lisa Marie’s financial problems were the result of her own errors. Reuters reports that the complaint claimed she had “spendthrift ways” and had “twice spent” her wealth.

However, Lisa Marie, who was nine years old when her father passed away, continued to be the sole owner of Graceland, and her 15% investment in EPE probably continues to generate a regular income.

According to Lisa Marie’s claims from a year ago, “Elvis Enterprises” paid her more than $104,000 every month.

The case against Siegel dragged on for years.

In 2019, a judge granted her motion to stop responding to subpoenas for her bank information and to limit her request to bank documents from before 2016. This was a little victory for her.

The case was still open as of 2021.

Lockwood asked for $263,000 per year from her when they first split up in 2016 so he could “enjoy a lifestyle that is closer to my marital state of living.”

He also requested $40,000 in child support.

Although they had a prenuptial agreement, he alleged that his lawyers misled him.

She won the case in 2018, but Lockwood went back to court in 2021 to ask for child support. In order to avoid having to give him support, she had been lying about her financial condition for years.

With the excuse that she had lots of money because to her $1 million book deal and the Elvis biography, he urged that she make good on her promise to pay.

The investigation remained ongoing when she passed away.

The 14-year-old twins of Lockwood and Lisa Marie, Finley and Harper Vivienne, were at the center of a custody battle that appeared to be settled last week. The 61-year-old guitarist reportedly received complete custody.

According to insiders, the teenagers had been living with Lockwood, who the musician had previously shared joint custody with, since Lisa Marie’s death.

Danny Keough, Lisa Marie’s ex-husband, reportedly discussed suing for custody after moving back in to help support her full-time.

According to California law, Lockwood already had shared custody and could only have been refused sole custody if it had been shown that he was unfit.

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