Many music fans in California and throughout the world still mourn the death of Elvis Presley, known as, ”The King of Rock and Roll.” For decades, droves of fans have flocked to his beloved former home, Graceland, which was left as an inheritance to his daughter, Lisa Marie. Sadly, Lisa Marie Presley recently passed away at age 54. Since her death, her mother, Priscilla Presley, has challenged a revocable trust that Lisa Marie had reportedly amended as part of her estate plan in 2016.
An estate owner may change a revocable trust at any time, provided that he or she is of sound mind and signs the document in adherence to California estate laws. It appears that Lisa Marie Presley had signed a revocable trust years ago, naming two people, one of whom was her mother, as trustees. Elvis’s former estate, Graceland, was part of the trust and was to be inherited by Lisa Marie’s children. At some point, the trust is believed to have been amended and the names of the trustees changed.
Lisa Marie’s son, who is now also deceased, was designated as a trustee
One of the trustees who were added to the amended trust was Lisa Marie’s son. Sadly, he has since passed away. Priscilla Presley has challenged the validity of the amended trust by filing a petition in court. What becomes of Graceland, as well as the rest of Lisa Marie Presley’s estate, will now be left to the courts to decide.
What makes a trust invalid?
Certain issues may constitute invalidity concerning a revocable trust. If California laws were not obeyed, a probate court judge may rule a trust invalid. If the court believes that someone committed fraud in signing the trust or the settlor of the trust was coerced or threatened, such issues will also make the trust invalid. Any person age 18 or over who is currently in need of legal support regarding estate planning or probate issues may request a meeting with an attorney who is experienced in this area of law.