Elvis “the King” Presley died on August 16, 1977 of an apparent
drug overdose. In 2012, the Presley estate had an estimated value of $300
million. Elvis continues as one of the top earning dead celebrities, bringing
in over $60 million in 2012 (only Michael Jackson out-earned Elvis in
2012 at $300MM).
Presley’s Last Will and Testament is well drafted and thought-out. Essentially, Presley’s entire estate was left in a trust for the health, education, maintenance and support for Lisa Marie Presley (his daughter), Minnie Mae Presley (grandmother), Vernon E. Presley (father), and any other relatives in need of emergency assistance as determined by the Trustee.
After the death of his father and grandmother, ½ of their share would be distributed to Presley’s children in trust and the other ½ would be distributed to Presley’s other relatives in trust. The trusts created for Presley’s children terminate when each child reaches the age of 25.
Elvis appointed his father to be the executor of his estate; he also gave his father the ability to appoint a successor executor. The National Bank of Commerce of Memphis would serve as Executor in the event that Vernon could not serve as executor.
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See “the King’s” Will here: http://www.ibiblio.org/elvis/elvwill.html