According to E! News, Naussany Investments & Private Lending LLC recently filed a lawsuit claiming Lisa Marie, the late daughter of rock ’n’ roll legend Elvis Presley, took out the loan in question in May 2018 and failed to pay it back before her passing.
The 54-year-old entertainer died unexpectedly earlier this year, on January 12, after suffering cardiac arrest related to a bowel obstruction.
According to the company, she used her ownership stake in Graceland and Elvis Presley Enterprises as collateral for the loan, which she was required to pay off by May 16, 2022.
The company says it had no contact with Presley after March 2022 and that many attempts to reach her business address by letter were refused and returned. It’s unknown why Lisa Marie took out the loan.
Page Six reports that Naussany Investments will drop the lawsuit if the estate pays 75% of the debt owed, or roughly $2.85 million, within 45 days. Representatives for Keough haven’t responded for comment.
Keough, the daughter of Lisa Marie and musician Danny Keough, was named the sole trustee of her mother’s estate in early August, ending a months-long legal dispute with her grandmother Priscilla, who was married to Elvis from 1967 to 1973.
Priscilla filed a legal challenge over an amendment to Lisa Marie’s will that replaced her as a co-trustee with Keough and her late brother, Benjamin. The estate includes control of Graceland and a 15-percent stake in Elvis Presley Enterprises.
While reports said the battle left the family members on non-speaking terms, the two sides reached a settlement agreement this May. Keough took control of the estate and Priscilla reportedly received a lump sum payment of $1 million, plus money to cover her legal fees.
If you need help setting up your estate plan and thus preventing your family from going through tedious legal processes in the future, we can help. Contact The Werner Law Firm probate attorneys in Los Angeles for a free consultation.
If you have any questions, schedule a free appointment with us through our online appointment page.
You can also read reviews from some of the hundreds of clients we have helped over the years.
Reference: Biography (Sep. 22, 2023) “Riley Keough Is Dealing with More Legal Drama Over Her Late Mother’s Estate”
Founded in 1975 by L. Rob Werner and serving California for over 48 years, our dedicated attorneys are available for clients, friends, and family members to receive the legal help they need and deserve. You can trust in our experience and reputation to help navigate you through your unique legal matters.
Whether you need help creating a living trust or navigating probate, our living trust law firm's compassionate team of estate planning lawyers and probate lawyers are here to help you and ready to answer your questions.
Our goal is to make your case as easy as possible for you. Hiring a lawyer can be a daunting task, but it doesn’t have to be. From the moment you contact our firm, through the final resolution of your case, our goal is to make the process easy and understandable. We cannot change the fact that probate is a long and complicated process, but through our Werner Law Firm Difference, we strive to go out of our way to keep you informed of your case through every step of the way. We are constantly refining our processes and procedures for a more streamlined and calm client experience. Our goal is to have you feel like a burden was lifted from your shoulders, and that we made the whole process an easy one
If you're dealing with a legal matter, we urge you to schedule a free initial appointment today and join the many satisfied clients who have contacted Werner Law Firm.
23 Corporate Plaza Dr., Suite 150
Newport Beach, California 92660