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Priscilla Presley challenges daughter Lisa Marie Presley's trust amendment - CBS News
Jan 31, 2023 48 secs
In Lisa Marie Presley's case, it appears she did not have a separate will filed, which means that her living trust serves the function of that document.

A living trust is a form of estate planning that allows a person to control their assets while alive, but have them distributed if they die.

Priscilla Presley's court filing alleges there are several issues that bring the living trust amendment's authenticity into doubt.

Priscilla Presley "is contesting the amendment because it removes her as trustee in favor of her granddaughter," Caryn Young, a partner on the private client and tax team at international law firm Withers, told CBS MoneyWatch.

While misspelling of Presley's name could be a simple error, the atypical signature could be evidence of fraud, Young noted.

But she had a troubled financial history, which came to light in 2018 when she sued manager Barry Siegel, claiming he had mismanaged her wealth, resulting in her $100 million trust dwindling to $14,000 in cash by 2016.

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