Daughter Wins Sole Title to $100-Million Presley Estate
MEMPHIS, Tenn. — Elvis Presley’s $100-million estate has been turned over to his daughter and sole heir after more than a decade of legal disputes, including a woman’s claim to be The King’s illegitimate daughter.
The estate will continue to be managed for Presley’s daughter, Lisa Marie, by a trust until 1998.
Retired Probate Judge Joseph Evans returned to the bench briefly Wednesday to sign the final order, which had been held up by a young woman’s claim as Presley’s illegitimate daughter.
Evans denied the claim in 1988 on grounds of insufficient evidence, and appeals courts upheld the decision.
Presley, “the king of rock ‘n’ roll,†died at his Graceland mansion in Memphis in 1977. His estate has been managed in trust for Lisa Marie Presley, who turns 22 in February.
Miss Presley would have taken sole control of the estate at 25, according to her father’s will, but last year she agreed to extend the trust until 1998. Miss Presley’s mother, Priscilla Presley, was divorced from her father when he died.
The estate was valued at $5 million to $7 million at Presley’s death. The trust opened Presley’s mansion to tourists in 1982, and the estate also draws royalties from his recordings and controls use of his name and image.
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