Wealth and fame often create the perfect storm for financial exploitation, as many celebrities can attest.
If you’ve been keeping up with the latest Priscilla Presley news, you’ll know this is the precise situation she is currently facing.
According to Rolling Stone, the ex-wife of musical legend Elvis Presley filed a lawsuit on July 18, 2024, with the Los Angeles Superior Court in which she alleges that her former business partners committed elder financial abuse against her.
In this article, a Keystone probate attorney will delve into the details of Priscilla Presley’s elder financial abuse claims and explain the legal concepts surrounding the case.
Priscilla Presley News — Latest Updates
To better understand the Priscilla Presley lawsuit, it may be helpful to know some background information about the famous rock ‘n’ roll spouse.
Where Is Priscilla Presley Now?
Priscilla Presley is alive and currently resides in Los Angeles, according to Cosmopolitan.
Although Priscilla Presley has always been a household name, her exposure has recently increased for a number of reasons.
First, two popular biopics, Baz Luhrmann’s “Elvis” and Sofia Coppola’s “Priscilla,” were released in 2022 and 2023, respectively, that document various aspects of Elvis and Priscilla’s life together.
Priscilla also was in the news because the only daughter she had with Elvis, Lisa Marie Presley, tragically died in January 2023.
Not long after Lisa Marie’s unexpected passing, Priscilla became involved in a dispute surrounding her estate. Namely, she brought a will contest to attempt to have her late daughter’s 2016 will amendment invalidated because it replaced her as co-trustee of her trust with her granddaughter Riley Keough and her late grandson Benjamin Keough.
According to Entertainment Tonight, the lawsuit was ultimately settled privately amongst family members.
“My family has resolved all confusion as it relates to our plea to the court and request for document interpretation after my daughter Lisa Marie’s untimely passing,” Priscilla stated. “Although some media identified such a plea as a lawsuit, I want to make clear that there was never any lawsuit filed against my beloved granddaughter. As a family, we are pleased that we resolved this together.”
In September 2023, on the heels of the family dispute over Lisa Marie’s estate, Priscilla found herself involved in yet another legal battle. This lawsuit was brought against Priscilla by Priscilla Presley Partners (PPP), a company formed by Priscilla and high-profile auctioneer Brigitte Kruse to commercialize Priscilla’s name, image and likeness.
Per court documents, the partnership between Priscilla and Kruse was formed in 2022. The latter was reportedly instrumental in getting the biopic “Priscilla” made, and she intervened just as Priscilla was allegedly “60 days from insolvency” and facing $700,000 in unpaid debts.
According to the legal complaint obtained by Billboard, Kruse had a 51% stake and Priscilla had a 49% stake in PPP.
In the lawsuit, Kruse is alleging that Priscilla and two new advisers sent her a cease-and-desist letter and abruptly “cut off all communication” with her in August 2023, effectively resulting in Priscilla breaching her contract. The lawsuit posited that this sudden reversal occurred just as Kruse’s exhaustive efforts on Priscilla’s behalf were starting to yield results.
Court documents show that Priscilla’s legal team was pushing to have the PPP lawsuit dismissed. Her lawyers were claiming that Kruse was retaliating against Priscilla because she had parted ways with Kruse after discovering the memorabilia auctioneer had harmed her financially.
“My client made significant claims against PPP and its principals … for misappropriating hundreds of thousands of dollars long before this specious lawsuit was filed,” Marty Singer, Priscilla’s lawyer, said in a statement. “We fully anticipate that my client will be vindicated and obtain a judgment against them.”
While this 2023 lawsuit has seemingly been sidelined for now, Kruse and another business associate of Priscilla’s, Kevin Fialko, filed a new $50 million lawsuit against the former wife of Elvis with the Los Angeles Superior Court in August, alleging fraud and breach of contract.
Their complaint was recently amended to include bombshell allegations that Priscilla allegedly placed “undue [financial] pressure” on Elvis in the spring of 1977, ultimately “pushing him to his death” that August. The complaint states that Priscilla “knew she was not entitled to inherit anything from Elvis” and therefore resorted to “extorting millions of dollars” from him, per People.
The petition claims Kruse and Fialco “sprang into action to prevent Priscilla’s financial ruin and public embarrassment.” It also claims that Priscilla exploited the Presley name to fund her lifestyle, concealed a prior 2005 licensing deal with Elvis Presley Enterprises and “pulled the plug” on Lisa Marie’s life support to gain control of Graceland and related trusts.
Priscilla and her granddaughter Riley have issued a joint statement calling these claims “deeply hurtful” and “absurd” and are vehemently denying them. The judge, however, has not yet issued a ruling, according to People.
“Take off the aluminum foil hat and face reality,” Marty Singer, Priscilla’s attorney, says. “This lawsuit concerns Ms. Presley’s claims against Ms. Kruse (and her co-conspirators) in which she alleges that Ms. Kruse engaged in a relentless and calculated campaign of elder abuse and fraud in order to take control of Ms. Presley’s finances for her own benefit. Ms. Kruse’s allegations are absurd and despicable, but unfortunately, are not surprising. Ms. Presley looks forward to holding Ms. Kruse and her co-conspirators liable for their wrongful acts.”
What Is Priscilla Presley’s Net Worth?
Given that Priscilla was supposedly on the brink of insolvency and owed substantial debts, it’s natural to wonder: How much money does Priscilla Presley have?
Per Celebrity Net Worth, Priscilla’s net worth is estimated to be $10 million.
Though Priscilla was best known for being the ex-wife of the best-selling solo artist of all time, Elvis Presley, she has an impressive career of her own.
The cultural icon not only starred in the “Naked Gun” film franchise and the television series “Dallas,” but she also wrote the best-selling 1985 memoir “Elvis and Me: The True Story of the Love Between Priscilla Presley and the King of Rock N’ Roll,” which many years later would serve as the basis for “Priscilla,” the A24 movie about her and Elvis’ complicated relationship, which began when she was only 14 years old and Elvis was 10 years her senior.
Priscilla and Elvis were divorced by the time he died in August 1977, which is presumably why he left the entirety of his estate to his only daughter, Lisa Marie, and named Priscilla as executor of the estate.
Worth only $1 million, Elvis’ estate had been struggling at the time of his untimely death, but Priscilla drastically turned things around by transforming Graceland, his famous mansion, into a popular tourist attraction and founding the highly profitable business Elvis Presley Enterprises.
In 1993, when Lisa Marie turned 25 and was able to take control of her inheritance, which partly comprised Graceland, the Elvis Presley estate was worth $100 million. Still, Priscilla remained only a minor beneficiary of the estate.
When Lisa Marie tragically died in January 2023, Priscilla discovered that her daughter had added an amendment to her will in 2016 that removed Priscilla as a co-trustee of her trust. Priscilla had been replaced by her granddaughter Riley Keough and late grandson Benjamin Keough. Sadly, Benjamin died by suicide in 2020, rendering Riley the sole trustee of Lisa Marie’s trust.
Claiming that Lisa Marie’s signature in the 2016 will was markedly different from her signatures elsewhere and pointing out how her own name was misspelled, Priscilla attempted to block Riley from becoming the sole heir to Lisa Marie’s estate. It was reported that this dispute ultimately was settled outside of court, though few details exist surrounding the terms of the agreement reached between Priscilla and her granddaughter.
Priscilla may have been on the verge of financial ruin in 2022 when she partnered with Kruse to form PPP, but it seems her finances experienced an uptick, thanks, in part, to the release of the A24 film “Priscilla.”
Although it’s unclear how much Priscilla earned from this project, it’s fair to assume she sold the rights to her book to the director for a hefty sum and earned a sizable salary for contributing to the film as one of its executive producers.
More details surrounding Priscilla Presley’s net worth, particularly after she partnered with Kruse to form PPP and get “Priscilla” made, are likely to emerge as her lawsuit progresses.
That said, if it’s true Pricilla had been facing bankruptcy in the past, it’s safe to assume she’s back in the black, as she recently sold her Beverly Hills home for $13 million and purchased a penthouse for $4.8 million in the Century City neighborhood of Los Angeles, according to Biography.
What Is the Priscilla Presley Lawsuit About?
In July 2024, according to Vulture, Priscilla and her legal team filed a lawsuit with the Los Angeles Superior Court against Kruse and Fialko, claiming the pair abused her financially. The lawsuit accuses two more of Kruse’s associates, Vahe Sislyan and Lynn Walker Wright, as well.
In the lawsuit, it’s claimed that the managers of PPP — the corporate entity that was formed in 2022 to commercialize Priscilla’s name, image and likeness — financially exploited the former wife of Elvis, forcing her “into a form of indentured servitude, where [she] was forced to work so that they could receive the lion’s share of any revenue that she was able to earn in the future,” according to court documents obtained by Entertainment Tonight.
Court documents claim Priscilla’s former business partners, which include Kruse, Fialko, Sislyan and Wright, conned the 79-year-old out of more than $1 million by carrying out a “meticulously planned” scheme to drain her of “every last penny she had.”
The complaint goes on to state the defendants intentionally misled Priscilla to give them power over almost every aspect of her life, only to turn around and abuse that power to steal from her.
In addition to these allegations, the complaint asserts the foursome fraudulently urged her to sign a deal that would provide them with 80% of her future income.
“The fact that the plaintiff in this case is internationally recognized actress, author, and cultural icon … demonstrates both how effective the defendants’ plan was (and needed to be), and how anyone can be a victim of elder abuse and fraud,” Singer, Priscilla’s high-profile lawyer, writes in the court filing.
Singer further claims that the prior lawsuit brought by PPP against Priscilla, which now seems sidelined, was merely an effort by Kruse and Fialko to hide their alleged misdeeds. Kruse, however, remains firm in her stance that the actions PPP took on behalf of Priscilla were to help dig her out of a dire financial predicament.
“It saddens all of us who dropped our lives to provide aid to a woman who needed help and she is now attempting to use her celebrity status to ruin the lives of kind, hardworking people,” Kruse told Entertainment Tonight in a statement.
Priscilla is seeking general damages of at least $1 million in addition to punitive damages and attorney fees and costs. She also is seeking to have the agreements with her former business partners rescinded on account of their being fraudulently induced.
If she is successful, she not only will regain control of her financial accounts, but she will obtain a “full accounting of their financial malfeasance,” court documents obtained by Entertainment Tonight read.
No resolution has been reached in this lawsuit yet, as it is still being actively litigated.
Was Priscilla Presley Abused Financially?
Based on the information that has been made public, it’s impossible to say for certain whether Priscilla’s former business partners perpetrated elder financial abuse against her. This remains to be seen as the case unfolds and is eventually resolved.
Although Priscilla’s claims against the managers of PPP are scathing, proving elder financial abuse can be a challenge. Priscilla, as the plaintiff, has the burden of proving her case by a preponderance of evidence. This means that the plaintiff must demonstrate the alleged abuse more likely than not occurred with admissible evidence.
Keep in mind that three legal disputes are at play here. The first dispute in which Priscilla is the defendant concerns her alleged breach of contract with PPP. The second dispute in which Priscilla is the plaintiff concerns the alleged elder financial abuse perpetrated by PPP’s managers against Priscilla. The third lawsuit again names Priscilla as a defendant and accuses her not only of breaching her contract but of defrauding her former business partners as well.
Until both sides have amassed sufficient evidence to support the allegations they are making in their individual lawsuits, no accurate conclusions can be drawn about the veracity of either party’s claims.
What Was Priscilla Presley’s Relationship With Her Alleged Abusers?
Priscilla met Kruse in 2021, after which Kruse swiftly involved herself in the cultural icon’s life, “often sending her multiple text messages a day, and telling her how much she loved her and admired her,” according to court documents from Priscilla’s elder financial abuse lawsuit.
The court documents allege that Kruse and her co-conspirators duped Priscilla “into believing that they would take care of her — personally and financially — while their real goal was to drain her of every last penny she had.” The defendants created the impression that they were committed to rescuing Priscilla from her financial troubles, the lawsuit suggests.
It goes on to claim that the defendants formed a close, confidential relationship with the celebrity, which led her to entrust them with her financial affairs.
In elder financial abuse cases, building a close, confidential relationship with the victim is often a tactic perpetrators use to gain their victim’s trust and later commit abuse.
That having been said, remember that this section merely refers to the claims Priscilla’s lawyers are making in her elder financial abuse lawsuit, not facts. These claims could theoretically be disproven by the opposing party.
What Tactics Did Priscilla Presley’s Alleged Abusers Employ?
The lawsuit alleges Priscilla’s former business advisers made “massive payments to themselves from Priscilla’s bank accounts,” moved her bank accounts to their preferred banks, charged her unnecessary fees and even had the celebrity pay the mortgage on a home owned by Kruse’s husband.
According to People, the lawsuit also claims the defendants isolated Priscilla and immersed themselves in every aspect of her life, which enabled them to fraudulently induce her into giving them power of attorney, which they used to exercise control over her personal and family trusts, as well as her bank accounts.
In elder financial abuse cases, isolation and immersion are tactics perpetrators commonly use on their victims. Abusers may isolate victims from friends and family so no one becomes privy to their misdeeds and then immerse themselves in the victim’s life to subtly assert control over them.
Additional allegations were made in the lawsuit surrounding Kruse “falsely” informing Priscilla that she was financially unstable, and therefore, “would not survive without their ability to exploit her name, image, and likeness on her behalf.”
The lawsuit also suggests that Priscilla was left with only a minority share of PPP after Kruse advised her to create companies in which Kruse and her business associates would receive 80% of Priscilla’s earnings.
Lastly, court documents postulate that Priscilla’s former business partners wrongfully took her earnings from the film “Priscilla” and $40,000 from the bank account of her son, Navarone Garcia, without informing either party about the withdrawal or the reasons for it.
“When it became clear to the defendants that their scheme had been uncovered, they attempted to falsely portray themselves as the victims by filing a lawsuit against Presley in Florida in the name of several of the sham companies they established,” the lawsuit claims, referring to the lawsuit brought by PPP earlier in 2024 against Priscilla for her alleged breach of contract.
It’s worth mentioning one more time that this section solely refers to claims, not facts.
What Were the Results of the Alleged Financial Abuse?
The lawsuit filed by Priscilla Presley is claiming her former partners’ misdeeds resulted in her suffering financial losses of at least $1 million.
In addition, Priscilla lost control of 80% of her future earnings due to agreements the lawsuit claims her former business partners fraudulently induced her into signing.
Priscilla Presley Lawsuit: Understanding Key Terms
To understand the gravity of the claims in the Priscilla Presley lawsuit, it’s necessary to review the definitions and implications of key legal terms.
What Is Elder Financial Abuse?
Elder financial abuse is exactly what it sounds like. It occurs when a person or entity wrongfully takes the money or property of an individual aged 65 or older, either knowing that their actions could financially harm the elder or intending to financially harm the elder. Elder financial abuse often is perpetrated through undue influence or fraud.
For a more formal definition of elder financial abuse, you can refer to California Welfare and Institutions Code section 15610.30, which states:
(a) “Financial abuse of an elder or dependent adult occurs when a person or entity does any of the following:
- Takes, secretes, appropriates, obtains, or retains real or personal property of an elder or dependent adult for a wrongful use or with intent to defraud, or both.
- Assists in taking, secreting, appropriating, obtaining, or retaining real or personal property of an elder or dependent adult for a wrongful use or with intent to defraud, or both.
- Takes, secretes, appropriates, obtains, or retains, or assists in taking, secreting, appropriating, obtaining, or retaining, real or personal property of an elder or dependent adult by undue influence, as defined in Section 15610.70.
(b) A person or entity shall be deemed to have taken, secreted, appropriated, obtained, or retained property for a wrongful use if, among other things, the person or entity takes, secretes, appropriates, obtains, or retains the property and the person or entity knew or should have known that this conduct is likely to be harmful to the elder or dependent adult.
(c) For purposes of this section, a person or entity takes, secretes, appropriates, obtains, or retains real or personal property when an elder or dependent adult is deprived of any property right, including by means of an agreement, donative transfer, or testamentary bequest, regardless of whether the property is held directly or by a representative of an elder or dependent adult.
(d) For purposes of this section, “representative” means a person or entity that is either of the following:
- A conservator, trustee, or other representative of the estate of an elder or dependent adult.
- An attorney-in-fact of an elder or dependent adult who acts within the authority of the power of attorney.
Remember, elder financial abuse often is not discovered until after the victim’s death. But the good news is that such claims can generally be litigated so long as more than four years have not passed since the alleged abuse occurred.
What Is Fraud?
Fraud refers to an intentional act of deception perpetrated against someone to cause them to surrender a legal right or item of value. Although fraud can be a form of elder financial abuse, not just elders fall victim to it.
There are two main types of fraud: fraud in the inducement and fraud in the execution.
Fraud in the inducement concerns deliberate concealment or misrepresentation of a material fact with the intention to mislead or deceive another party.
In Priscilla’s lawsuit, for example, it’s being claimed that her former business partners fraudulently induced her into signing agreements that left her with only a minority stake in PPP. This may be considered fraud in the inducement.
Fraud in the execution involves one party intentionally deceiving another party as to the very nature of the contract they are signing.
For example, if Priscilla’s business partners had informed her that she was signing a power of attorney when she actually was signing away the rights to her future earnings, their actions may have amounted to fraud in the execution.
What Is Undue Influence?
Undue influence, a common type of elder financial abuse, refers to excessive persuasion being used on someone to cause them to override their own free will when making decisions or taking actions. The results of undue influence favor the influencer at the expense of the victim.
Although undue influence can be applied as outright pressure, it can also be applied more subtly through manipulation or excessive affection.
For persuasion to be regarded as undue influence, the victim must be vulnerable in some way. For example, they could be elderly or have a cognitive or physical disability.
From the court documents filed thus far, it does not seem as though the allegations against Priscilla’s former business partners specifically include undue influence. That said, many of the claims presented in the documents suggest that it was a tactic her former associates used on her.
For example, it’s being alleged that the defendants lied to Priscilla about her dire financial situation in order to convince her to cede control over many aspects of her life to them. If they applied significant pressure on Priscilla or showered her with affection to cause her to do this, it’s possible that they unduly influenced her.
Perhaps her legal team is steering clear of undue influence claims due to the challenges involved in successfully proving undue influence.
How Is Elder Financial Abuse Proven?
Proving elder financial abuse isn’t always easy — as we touched on earlier, a preponderance of evidence is generally required. Put simply, the evidence must demonstrate that the alleged abuse more likely than not occurred.
In the following sections, we’ll briefly discuss what else must be demonstrated to prove allegations of elder financial abuse.
Provide Evidence that the Plaintiff was 65 or Older When the Abuse Allegedly Occurred.
For obvious reasons, the alleged victim of elder financial abuse must be a senior citizen. In California, a senior is defined as a person who is aged 65 or older.
Although financial abuse can theoretically be perpetrated against a person of any age, it most commonly affects seniors, since they often have substantial savings and may not be as capable as younger individuals of protecting themselves against it.
Establish the Relationship the Defendant(s) Had with Their Victim.
When it can be demonstrated that the accused had a close, confidential relationship with the elder they supposedly abused, elder financial abuse claims generally carry more weight, as it suggests the victim trusted their alleged abuser.
Demonstrate the Defendant(s) Committed an Act of Financial Abuse
Because “elder financial abuse” is an umbrella term that can refer to a wide range of abusive acts, it’s important to get clear on the specific acts of abuse that were perpetrated.
For example, if the accused stole from the victim, get clear on what they stole, when they stole it, where they stole it and how they stole it.
Remember, vague claims won’t generally fly with the court. It is crucial to list specific acts of abuse, as well as any details you have surrounding them, in your complaint.
Show the Defendant(s) Intended to Financially Harm the Victim
Intentionality is essential in proving elder financial abuse. If the accused financially harmed the victim without knowing the impact of their actions or without intending to harm the victim, their actions may have been in good faith, and therefore, may not be regarded as unlawful by the court.
Consider a financial adviser who invested their elderly client’s money into low-risk stocks that ultimately plummeted due to a stock market crash. In this instance, would it be fair to allege the adviser committed elder financial abuse? Probably not.
Prove the Plaintiff Suffered Financial Losses as a Result of the Actions of the Defendant(s)
It should go without saying that the victim of elder financial abuse should have suffered quantifiable financial losses as a result of the alleged abuse. Otherwise, there would be no reason for bringing a claim.
Sometimes, the full extent of the financial losses suffered by the victim may not be readily apparent, as more detailed investigation could be required to uncover it. A probate attorney can assist with this process.
What Is the Penalty for Elder Financial Abuse?
If an elder financial abuse claim is successfully proven, severe financial penalties could result in addition to the abuser being ordered to return the wrongfully taken money or property.
Many civil cases are settled outside of court. This doesn’t mean financial abusers won’t suffer any consequences for the abuse they inflicted; rather, they may reach a compromise with the opposing party. This often results in their paying less in damages than what the court would have ordered them to pay had their case gone to trial and resulted in a loss.
Civil suits don’t usually lead to criminal charges, although if the financial abuse that was uncovered was particularly egregious, it’s not completely unheard of for a prosecutor to open a criminal case.
Because elders are considered some of society’s most vulnerable members, harsh financial penalties exist for those who perpetrate financial abuse against them.
The following sections discuss common penalties for elder financial abuse.
Double or Treble Damages
Under California Probate Code section 859, if it is found that someone perpetrated financial abuse against an elder and took property from the elder, they could be liable for paying twice the value of the property recovered by an action.
For example, if the value of the property recovered was $100,000, the financial abuser could be required to pay $200,000 in damages.
If the act of elder financial abuse was particularly egregious, the court may require the abuser to pay treble damages, or three times the value of the property recovered by the action.
Award of Attorney Fees and Costs
Under Probate Code section 859 and Welfare and Institutions Code section 15657.5, the court also could award reasonable attorney fees and costs, in addition to compensatory damages and all other remedies provided by the law, to an elder financial abuse victim. These fees and costs would be paid by their abuser.
Remember, awards aren’t handed down until the conclusion of a trial. If a case doesn’t go to trial, the only way for a victim to be compensated for their attorney fees and costs would be for the settlement agreement they reach with their abuser to stipulate that their abuser will pay these expenses.
How Will the Priscilla Presley Lawsuit Play Out?
Unfortunately, with the information that’s been made public, we can’t say for certain how Priscilla’s elder financial abuse lawsuit against her former business advisers will play out.
Both sides have made conflicting claims in their individual lawsuits, so only time will tell which side’s claims are more accurate.
As the parties’ legal battles progress, we will continue to update the article with what we know. Stay tuned!
What to Learn From the Priscilla Presley Legal Battle
Priscilla Presley’s elder financial abuse lawsuit highlights the importance of actively overseeing your finances, even if you’ve entrusted professionals to manage them on your behalf.
It, likewise, highlights the importance of thoroughly reviewing contracts before signing them. Depending on the seriousness of a contract’s terms, you may even wish to have an attorney other than the one who drafted them explain them to you.
Finally, Priscilla’s situation demonstrates how giving any one party too much control over your life may not be the best idea.
“While there is nothing wrong with delegating responsibilities to outside parties to lighten your load, be sure to divide responsibilities among multiple parties to ensure no one party wields excessive power,” advises Shawn Kerendian, Keystone’s managing partner. “Remember to not blindly trust just anyone when large sums of money are involved. The perpetrators of elder financial abuse are often the victim’s own family members.”
Is an elder you know being financially abused? We can help.
Elder financial abuse claims are most effective if brought in a timely fashion. In other words, if you suspect someone you know, whether they are alive or deceased, could have been a victim of elder financial abuse, act quickly to hold the responsible parties accountable.
The talented team of probate attorneys at Keystone specialize in elder financial abuse matters and are eager to assist you. Call us today to learn how we can help.
