Lisa Marie Presley - Elvis Presley Estate

Elvis Presley Estate

After Elvis' death at Graceland on 16 August 1977, his will appointed his father, Vernon Presley, executor and trustee. His fortune had dwindled to only $5 million. The beneficiaries of the trust were Vernon, Elvis' grandmother Minnie Mae Presley, and his nine-year-old daughter Lisa Marie Presley, whose inheritance was to be held in trust until her twenty-fifth birthday. After Vernon's death in 1979, Elvis' ex-wife Priscilla Presley was named as one of three trustees in his will; the others being the National Bank of Commerce in Memphis, and Joseph Hanks, who had been Elvis and Vernon's accountant. With Minnie Mae's passing in 1980, Lisa Marie became the only surviving beneficiary named in Elvis's will.

On her 25th birthday in 1993, Lisa Marie inherited Elvis' estate, which, thanks largely to the stewardship of her mother, Priscilla, had grown to an estimated $100 million.

In 1998, Lisa became more closely involved with the management team of The Elvis Presley Trust and its business entity, Elvis Presley Enterprises, Inc.(EPE). She was owner and Chairman of the Board until February 2005, when she sold 85 percent of the estate's business holdings to CKX, Inc., excluding Graceland itself and the property within it.

Lisa Marie Presley continues to be involved, as does her mother Priscilla. Lisa Marie Presley retains 100% sole personal ownership of Graceland Mansion itself and its over 13-acre original grounds and her father's personal effects – meaning costumes, wardrobe, awards, furniture, cars, etc. She has made the mansion property and her father's personal effects permanently available for tours of Graceland and for use in all of EPE's operations.

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