No mistake, Lisa Marie Presley axed mom from trust: report
It was no mistake when Lisa Marie Presley cut her mom, Priscilla Presley, out of her trust in 2016, her friend said in a report released Wednesday.
Following Lisa Marie’s death in January, her daughter Riley Keough was given control of her reported $100 million trust. But Priscilla legally challenged that trust weeks later, claiming a 2016 change that cut her out was illegitimate.
However, a source told People magazine that Lisa Marie intentionally removed Priscilla as a trustee.
“I can assure you, in the last seven years of Lisa’s life, she never discussed with
Priscilla any business,” the unnamed friend told People.
Lisa Marie’s estate paperwork named Riley and her brother, Benjamin Keough, as trustees, but Ben died by suicide in 2020.
“There’s zero question,” the source added, “Lisa wanted Riley and Ben to be the trustees.”
The beef between Lisa Marie and Priscilla reportedly stemmed from Lisa Marie’s nasty divorce from guitarist Michael Lockwood. Reports since 2016 have suggested Priscilla sided with Lockwood in the divorce, while Riley backed her mom.
Even while Priscilla and Lisa Marie appeared together to support the Baz Luhrmann film “Elvis,” they were barely speaking, sources told People.
Now, it’s reportedly Priscilla and Riley who aren’t on speaking terms.
“They do not see eye to eye,” a Presley family source told People.
In her court filing, Priscilla argued that Lisa Marie was required to tell her about changes to the trust. She also noted that the 2016 change misspelled her first name and further claimed that Lisa Marie’s signature “appears inconsistent with her usual and customary signature.”
A court hearing in the case is scheduled for April 13.
“It’s a very sad situation,” a Keough source told People. “Riley is shocked Priscilla is contesting the amendment.”