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Elvis Week


Elvis presley died at graceland on august 16, 1977. His will appointed his father, vernon presley, who had long handled elvis' personal, non-career business affairs, as executor and trustee. The beneficiaries were elvis' grandmother, minnie mae presley; his father, vernon presley; and his only child, lisa marie presley. The will provided that vernon presley could, at his discretion, provide funds to other family members as needed. Vernon presley died in 1979. Minnie mae presley died in 1980. This left lisa marie presley as the sole heir to the estate. Elvis' will stated that her inheritance was to be held in trust for her until her twenty-fifth birthday, february 1, 1993.

Vernon presley's will brought about the appointment of three co-executors/co-trustees to succeed him. They were: the national bank of commerce in memphis, which was the bank elvis and vernon had done business with; joseph hanks, who had been elvis and vernon's accountant for a number of years; and priscilla beaulieu presley, who had divorced elvis in 1973, but had continued a close friendship with him and was lisa's legal guardian. Joseph hanks retired from his post in 1990.

Upon lisa presley's twenty-fifth birthday in 1993, the trust automatically dissolved and lisa chose to form a new trust, the elvis presley trust, to continue the successful management of the estate, with priscilla presley and the national bank of commerce continuing to serve as co-trustees.

In 1998, as lisa marie presley's role in the management grew, priscilla presley chose to redirect her efforts by moving to an advisory position, continuing her close involvement and support while focusing more time on her own ever-expanding individual pursuits as a successful actress and businessperson.

Lisa marie presley became more closely involved with the management team of the elvis presley trust and its business entity, elvis presley enterprises, inc.(epe), of which she was owner and chairman of the board until february 2005 when she sold a major interest in the company.

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