According to insiders, Priscilla Presley, Elvis Presley’s widow, has severed contact with Riley Keough owing to a disagreement over Lisa Marie Presley’s assets.
Priscilla, 77, and Keough, 33, are the primary protagonists in the heated legal issue between the two parties’ attorneys for the past month.
The tragic death of the King of Rock’s sole child triggered the story after it was discovered that the 54-year-old had changed the terms of her will to make daughter Riley and son Benjamin – who died by suicide in 2020 – her only heirs.
Following the 2016 amendment, Priscilla was entirely removed from the will.
Although the exact amount Lisa Marie left is unknown, various accounts allege she squandered the $100 million endowment she got upon her father’s death in 1977. Lisa Marie’s mother was enraged by the modification and has launched a lawsuit against it.
An insider with family ties claimed that Priscilla is no longer speaking to her granddaughter, despite telling fans just a few weeks ago to “ignore the hoopla” surrounding the ongoing will dispute.
“Riley has been grieving the loss of her mother and is upset to have to deal with a trust dispute with a family member,” an unnamed insider declared.
Priscilla is adamant that she has a strong case and will prevail in court.
Riley and Priscilla have communicated with one other through attorneys, even though they aren’t communicating directly now.
According to the source, both women are “gearing up” for a contentious court battle, despite Keough’s desire to handle this matter quietly.
According to the source, Priscilla is “convinced that [the] old documents were faked,” and she is “heartbroken that this has escalated into a public crisis and knows her mother would never desire this.”
Keough, on the other hand, who has had to bury her mother and brother in the previous three years, has been “very stressed” by the fight but is “trying to maintain a positive attitude,” according to the source.
Since the contents of Lisa Marie’s will were made public, Priscilla has vehemently opposed the validity of the addition, alleging her daughter’s signature on the seven-year-old document was inconsistent.
She has since begged the public to give her and her family the space they need “to work together and figure things out” as the famous family strives to settle the conflict.
Priscilla claimed that she wants to establish “a journey ahead with respect, honesty, dignity, integrity, and love” when discussing this month’s ongoing conflict.
She filed the necessary legal documents to challenge the 2016 amendment that removed Barry Siegel, Lisa Marie’s former business manager, and herself from the trustee list.
Riley and the late Ben Keough were replaced by Riley and the late Ben Keough, whose suicide by gunshot in July 2020 left Riley as the only executor, just like Lisa Marie was after the death of her colorful father.
Further issues about the recently discovered alteration include that it was never provided to her, the document’s date is unknown, and her name is misspelled.
“That was always Riley and Ben,” said Joel Weinshanker, a managing partner of Elvis Presley Enterprises on SiriusXM’s Elvis Radio.
She was sure they would act as stewards and address the problem as she did.
Riley was devastated by Ben’s death, as evidenced by his reaction.
According to Weinshanker, Riley was informed she would be in charge of the trust.
Despite being a well-known actress and excellent filmmaker, Riley claims she has always been interested in leadership and knew the day would come.
Weinshanker remarked that “sometimes you just have to take a stand.”
“When Elvis died, he gave everything to his small child,” he commented.
He did it knowing that she would continue on his legacy.
“I can guarantee that she has always looked out for Elvis,” despite everything else in her life or job.
Regardless matter what someone else tried to do or what another family member tried to do, Lisa Marie was concerned about the trust, according to Weinshanker.
Lisa Marie named the King’s sole executor in 1977, did not receive her $100 million inheritance until she turned 25 on January 29, 1993.
On January 27, 2010, her mother and Siegel were named trustees in an update and thorough restatement of the trust, which includes the family’s vast Tennessee property Graceland.
Lisa Marie Presley “nominated her mother, Petitioner, and her former business manager, Barry Siegel, as co-Trustees effective as of the 2010 restatement,” according to the court petition.
“The 2010 Restatement also states that if Lisa Marie Presley becomes disabled or dies, Petitioner and Barry Siegel will continue to operate as co-Trustees.”
Siegel and Lisa Marie, who, like her father, had struggled with drugs and money throughout her career, were mired in a protracted legal battle in 2018 due to her deteriorating financial situation.
Lisa Marie stated that Siegel had placed his financial interests over hers after she severed ties with him.
Even though she inherited a $100 million legacy in 1993, many have questioned how much money Lisa Marie had due to charges that she squandered her fortune.
According to some celebrity blogs, she may have had a negative net worth at the time of her death and was not affluent enough to rank among the highest-paid celebrities on Forbes’ list.
Through a trust, she retained ownership of Graceland, Presley’s $10 million Memphis estate that is now a primary tourist site.
Riley, as well as the 14-year-old twin’s Harper and Finley, will now inherit Graceland.
After her death, Lisa Marie was buried near her son Benjamin and her late father.
Her remaining relatives continue to feud with one another.