Lisa Marie Presley’s Ex-Business Manager To Resign Down As Co-Trustee Of Her Trust Worth $35 Million, Priscilla Wants Riley To Step In As Family Battle Heats Up
Jan. 30 2023, Published 4:30 p.m. ET
The ex-business manager of Lisa Marie Presley plans to step down as co-trustee of her trust — and her mom Priscilla wants the late musician’s oldest daughter Riley Keough to fill his spot — as Elvis’ relatives continue to fight over the $35 million in life insurance money they are set to collect in connection to Lisa Marie’s death, RadarOnline.com has learned.
According to court documents obtained by RadarOnline.com, Priscilla Presley revealed that Lisa Marie’s ex-biz manager Barry Siegel has already or will be resigning in the near future.
As RadarOnline.com previously reported, last week, Priscilla filed a petition in Los Angeles Superior Court asking that she named co-trustee of the trust created by Lisa Marie.
She said the trust was created in 1993 and later amended in 2010. Priscilla said she was named the co-trustee or the trust along with Barry Siegel. Priscilla said now that Barry is out, per Lisa Marie’s instructions, Riley will be co-trustee after filling out the proper paperwork.
It’s unclear what Riley plans to do since in Priscilla’s petition she asked that a 2016 amendment to the trust be thrown out. She said the 2016 amendment cut her out as a co-trustee and named Riley and her late brother Benjamin as co-trustees to the trust.
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However, Priscilla said the amendment was not proper. Her motion read, “[Priscilla] recently received a .pdf file of the Purported 2016 Amendment allegedly dated March 11, 2016. Petitioner notes that the .pdf file shows a comment by "rbernste" dated March 14, which inserts the number 11 in the date of the document, March 11, 2016.
“Also, the signature page of the Purported 2016 Amendment does not contain any text of the amendment, which can present a higher risk for fraud. Also, the Decedent's signature appears to be inconsistent with the Decedent's usual and customary 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,” she said.
As RadarOnline.com previously reported, Lisa Marie died with $3-4 million owed to creditors but had life insurance policies that are set to pay out $35 million to her family.