Lisa Marie Presley, who recently passed away unexpectedly, apparently left an amendment to her trust that is now being contested by her mother, Priscilla Presley.  The trust amendment directed for Lisa Marie’s children to become the trustees of her trust effectively removing Priscilla from that position.  At stake is the management of Graceland and other assets that Elvis left to Lisa Marie.

The contest states among other things, that Lisa Marie’s name is misspelled at least once, that the signature of Lisa Marie is not consistent with her normal signature and that the trust called for any amendment to be “delivered” to the then serving trustee which Priscilla claims was never done.  The “delivery” issue is very interesting because California has specific law which provides that if the trust document directs a method for amendment, that method is to be followed in order to be valid.  Undoubtedly, we will learn of future developments.

What can we learn?  It is critical to properly draft and sign any trust document or amendment.  It is also critical to follow the method of amending a trust if one is directed.  If any of these formalities are not performed correctly, your intentions may never be legally honored.

Family Security Law Group – 805-496-4681 and at www.fslgapc.com