Was Lisa Marie Presley’s Estate Planning Valid?

When finances and emotions collide, the results can be explosive.  In the wake of Lisa Marie Pressley’s untimely death at age 54, her mother, Priscilla Pressley, has filed a Court petition, challenging the validity of the estate planning documents.

At issue, is a 2016 amendment to a trust which replaces Priscilla as a Co-Trustee of the Estate with Lisa Marie’s daughter, Riley Keough.

At the upcoming April 13 Court date, a judge will be asked to decide the validity of the amendment.  Specifically, is the purported amendment fraudulent?  And/or did Lisa Marie lack the requisite legal mental capacity to have created the document in 2016?

We can expect a close examination of the circumstances surrounding the execution of the 2016 amendment.  A properly documented legal file should be enough to rebut the challenge.  This causes me to question who would be able to defend against a challenge to DIY legal work?

There are some documents that we can do on our own.  However, when there is any complexity within family relationships, it is a very good idea to have one’s will and trust created by an attorney.  This is the best way to protect beneficiaries from being dragged into court by disgruntled relatives.

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