Priscilla Presley challenges Lisa Marie Presley’s will which will see Riley Keough as trustee

Following the death of Lisa Marie Presley it’s been revealed that her eldest daughter Riley Keough has been named the trustee. Now, her mother Priscilla Presley has petitioned to invalidate the will.

The news comes after the tragic death of Lisa Marie Presley, 54, on January 12. She was the only child of Elvis Presley and Priscilla Presley which made her the sole heir to father’s estate.

Priscilla’s petition disputes amendments made to her daughter’s will in 2016 that removed Priscilla and Lisa’s former business manager as the managers of the trust. In the filing to the Los Angeles Superior Court, lawyers for Priscilla Presley said that she only became aware of the "purported 2016 amendment" after Lisa Marie’s death.

The amendment in question made Lisa Marie’s eldest children Riley and Benjamin Keough the managers of the trust. Her two eldest children came from her first marriage with Danny Keough  who she stayed close with until her death. Riley Keough, 33, is an actress with credits including the 2020 film The Devil All the Time and the Amazon series The Terminal List. Benjamin Keough died in 2020 at the age of 27.

Replacing Priscilla as trustee would mean she was no longer overseeing her daughter’s assets. It is unclear how much the estate of Presley is worth, however, various lawsuits in recent years suggest that Lisa Marie’s finances were not in a good place. The assets include the famous Graceland estate.

There are a number of issues with the will stated within the petition filed by Priscilla. Her lawyers state that the document misspelled Prisiclla’s name and claims that her daughter’s signature on the 2016 amendment was ‘inconsistent’ with previous signatures.

Additionally, Pricilla’s petition reportedly states that Lisa Marie’s original will dates back to 1993 and was amended to make Priscilla and Barry co-trustees 2010. One of the issues with the will’s validity is said to be that Priscilla did not learn of the 2016 amendment, and states she should have been informed  ‘as required by the express terms of the Trust’.

The petition reads: "Based on the foregoing, the Purported 2016 Amendment should be deemed invalid and the Trust, as amended and completely restated in 2010 is the controlling and authoritative document and its terms administered.”

Lisa Marie reportedly has issues with how the trust was run under her mother. In 2018, Lisa Marie sued Siegel, claiming that his mismanagement led her trust to shrink from $100 million to just $14,000. However, he claimed that the loss in funds was due to her extravagant spending.

A friend of the late star told People: ‘There’s substantial documentation that basically Lisa was the only trustee. ‘Priscilla did not participate in anything, as [Siegel also] hadn’t for years before… At the end of the day, a trustee is supposed to have limited power — they’re supposed to not be able to do anything bad or stupid. No one can argue that Riley being the trustee is going to not be to the benefit of the twins.’