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Lisa Marie Presley’s untimely death was shocking and unexpected. Now, her financial legacy may be complicated to sort through. It will likely take a lot of time to settle her affairs, largely because her estate was linked to her late father’s posthumous earnings.
Elvis Presley earns more after his death than he ever did during his lifetime, and Lisa Marie was his only child. Graceland belonged to Lisa Marie through a property Trust, and it will now be passed along to her children.
Ms. Presley left behind three daughters, but representatives for the estate say that there won’t be any changes to the operations there. Many of Elvis’ personal possessions, cars, awards, and costumes are also located at Graceland, and they will remain there.
However, she was a single owner of the Trust and now there will be three owners. That can complicate things, because each owner may have a different idea of what should be done with the asset itself. For example, one of the daughters could decide she wants to sell her part of the Trust.
If that ever becomes the case, sorting out how that will be done and who will buy that portion is important. The issue will likely come down to whether Lisa Marie’s three children want to keep strong control over the physical parts of Elvis’ legacy, or whether they want to start letting those things go.
Right now there aren’t any serious rumors about what might happen with Graceland, but for the first time its future may be uncertain. While it seems likely that Lisa Marie’s daughters will keep it in the family, there’s always the chance they’ll decide they want to do something different.
The lucrative nature of Graceland plays a role, since any future plan to sell it, or for one owner to sell it, could result in a significant opportunity for someone outside the Presley family to own a large piece of the family’s legacy.
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