Disputes Over Estate Planning Documents Erupt After Lisa Marie Presley’s Death
It is important for everyone to have their affairs in order and the proper estate planning documents in place. Unfortunately, unexpected events can happen, throwing loved ones into turmoil in the aftermath. This is common among celebrities who, despite having significant assets, fail to create an estate plan or make errors in amending these documents. Such is the case with the estate of Lisa Marie Presley, who recently passed at the age of 54. Our Tampa estate planning lawyer details the dispute currently brewing and some important lessons we can all learn from it.
Disputes Over Presley Estate Threaten Family Relationships
Lisa Marie Presley, the only child of music icon Elvis Presley, passed away in a California hospital on January 12, 2023. She reportedly went into cardiac arrest at her home, but the Los Angeles Coroner’s Office has not yet revealed the exact cause of death. She leaves behind her famous mother, Priscilla Presley, as well as three surviving children.
CBS News reports indicate that within weeks of her passing, trouble began brewing with her estate. Lisa Marie was the sole heir of her father, entitling her to ownership of his Graceland property. In her living trust, her mother was named as a co-trustee and had been successfully managing the grounds and related-financial affairs for years. However, in the aftermath of her daughter’s passing, an amendment to the trust was uncovered, removing her as trustee and replacing her with two of Lisa Marie’s children, Riley and Benjamin Keogh.
Benjamin died of suicide in 2020, leaving Riley Keogh as the sole trustee. However, Priscilla Presley quickly filed legal documents with the court, disputing the authenticity of the recent amendment. She is seeking to remain co-trustee, alongside her granddaughter, but it is likely to cause problems within the relationship and among other family members.
Disputes In Presley Estate Raise Common Concerns
While few will leave behind such as sizable estate, there are still some important lessons we can all learn from the Presley dispute. The concerns Priscilla Presley raises are common and, if the case occurred here, legally valid under the Florida Statutes. These include:
- The amendment to the original trust, filed in 2016, was never served on Priscilla Presley;
- Her name was not spelled properly;
- The authenticity of Lisa Marie’s signature is in question, as it does not match with other copies;
- There was no will that reflected the changes, which would have helped in clarifying the matter.
Get Trusted Legal Guidance From Our Tampa Estate Planning Lawyer
The outcome of the Presley dispute remains to be seen. However, it does provide important lessons when it comes to estate planning. These are relatively simple mistakes that could have been avoided, sparing family members additional pain.
To prevent these types of problems, consult with our experienced Tampa estate planning lawyer when putting a will, trust, or other documents in place. For trusted legal guidance, contact Bubley & Bubley, P.A. to request a consultation today.