Priscilla Presley Pushes Riley Keough To Become Co-Trustee of Lisa Marie's $35M Trust – Battle Over?

Riley Keough, the daughter of Lisa Marie Presley, is poised to get wealthy when a family dispute comes to light.

Barry Siegel, the problematic star's former business manager, is reportedly intending to resign from his position as co-trustee of her trust.

As a result, Priscilla Presley, Lisa Marie's mother, supposedly wants Riley to take Siegel's place. Their kin are still fighting over the $35 million in life insurance proceeds that the former's passing would entitle them to.

Barry is expected to resign from his related post, according to Priscilla, per court records that Radar Online was able to obtain.

This occurred after Priscilla asked to be included as a co-trustee of the trust that Lisa Marie established in a petition that was submitted to the Los Angeles Superior Court.

In court documents, Priscilla stated that the trust was established in 1993 and updated in 2010. She said that Barry and her were both appointed as co-trustees of the document. Riley will become a co-trustee after submitting the necessary papers, but now that Barry is gone, in accordance with Lisa Marie's allegedly stated instructions.

Since her grandmother requested that a 2016 change to the trust be thrown out from her grandmother's petition, it is unclear what the Hollywood actress planned to do. Priscilla additionally said that Riley and her late brother, Benjamin Keough, were later appointed as co-trustees of the trust after the 2016 revision removed her as a co-trustee.

In her filling, Priscilla also claimed that the change made on March 11, 2016, was incorrect. It is also being questioned whether the signature is genuine because it differs from Lisa Marie's "normal and typical signature."

"Lastly, the original version of the Purported 2016 Amendment has not yet been located. Since the original Purported 2016 Amendment has not been located, it is presumed that it was destroyed," the document further revealed.

Lisa Marie Presley Intended for Mother Priscilla To Be Out of Trust

Lisa Marie Presley reportedly wanted Riley Keough, her oldest daughter, to run her trust so that her children would have access to it.

According to a close acquaintance who spoke to People magazine, the controversial daughter of the King of Rock 'n' Roll had "quite clear" intentions.

"Lisa genuinely didn't believe that Priscilla Presley was acting in her best interests."

The trust has both Elvis' Graceland property and a 15% interest in her inheritance.

A friend of the "Lights Out" singer also claims that Lisa Marie does not support Priscilla's attempts to regain control of the trust.

They said that Lisa Marie's 2016 revision merely served to demonstrate that she "did not have a relationship" with her mother.

The friend also asserted Lisa Marie had a serious problem with the way Priscilla and Barry Siegel were in charge of her trust. She even filed a lawsuit against Barry for poor management in 2018, which caused significant losses for her trust.

Tags

Lisa Marie Presley, Priscilla Presley, Riley Keough