Cynthia Brittain spoke with Wealth Management about the latest developments in the Presley estate saga; namely, Priscilla Presley challenging the validity of one of the amendments to her late daughter Lisa Marie’s trust. The amendment removes Priscilla and Lisa Marie’s former business manager as the original trustees, and “completely cuts Priscilla out.”
Priscilla is arguing that the amendment is invalid for multiple reasons: the signature is mispelled, nobody was there to witness it, and that the amendment was never presented to the trustees for approval which was required in their trust agreement. Regarding the viability of Priscilla’s arguments, Cindy shared, “Case law and the Probate Code provide the analysis for the court.” She went on to explain that other factors like Lisa Marie’s heath, relationships at the time this amendment is said to have been signed, and circumstantial evidence will also play a role.
Cindy added that, “Methods are drafted into trust documents to ensure that a vulnerable person is not taken advantage of and to ensure there is no fraud. Those methods are designed to protect, and the court will likely respect the devices explicitly drafted into a duly executed and accepted trust.”