Elvis - A Lighted Candle

[Trezyours]

Hi Wanda

In a couple of other threads you mention that Elvis left part of the estate or Graceland to Priscilla. It was my understanding that Elvis did not leave anything to Priscilla.

Wasn't it Vernon who made the decision to name Priscilla as a person on the board in his own will?

Here is a copy of Elvis' last will
http://www.elvispresleynews.com/ElvisWi ... ament.html

Did I miss something?

Thanks in advance
Vera

[Wanda June Hill]

Hi Vera, No you didn't miss anything in the will-what I said was that Elvis made sure that Priscilla would have a hand in his estate by signing over half of the vaule of Graceland in lieu of paying her cash for the amount of money he was going to owe her according to the divorce settlement agreement (the second one when she took him back for money money). By doing that he made sure that legally she had interest in the Estate and what would be come of it. There was not enough money to keep it running and pay all the help and all the debt that was accumulating after his death. The funeral cost a fortune plus there were all the taxes and bills from the last tour-he had done 55 shows and those expenses were great to say the least. Anyway, I believe he did that to make certain she would be in the picture other wise if he didn't put her in his will, then she would have nothing and no say at all except as the mother of Lisa, his only "lawful" child. His will was pretty standard, not any differently written than any other will where there was holdings-his just happened to be entertainment holdings etc: and not a normal business. By signing over his estate (half) to her, she had a big voice in it all and he knew that...I think he was trying to pay off the debts he owed Col. Parker and whatever else was involved there.
He knew he wouldn't have much money after that-but his Graceland would be free and clear and no one could step in and say he owed more than it was worth plus all the things he had besides that. I think that's where his savings went-he said he had enough to do the job-and was going to pay his debts and get free of everything.
He didn't have time for himself, but he did free things up for Lisa. Sadly though, he didn't think about the taxes that Col. Parker hadn't paid-or the money that was credited as being Elvis' and he didn't even see-but that's how it goes, if you happen to be trusting and naive you get took alot in that business...or just about anywhere.
Anyway, I was shocked to find out he had signed over half his estate to her-I knew he wasn't going to have her in his will because he said she'd got enough out of him already. And so had Ginger-what I was surprised at is that Linda's home wasn't in her name yet and Elvis had told his dad, he said, to change it over-but it wasn't done so her mom and dad had to move and it was sold. That wasn't Elvis' fault I don't think, except he didn't check to see if it was done. Vernon didn't like to part with anything, not even a dime. So I can see him taking his time doing that. After all Elvis name was on the mortage and he gave her the house-but he had paid for it and she lived there rent free and so did her folks later...so I can see Vernon's mind set.
Anyway, Priscilla's interest in the estate gave her a foot hold and Vernon needed help-she was a good one for that as she had a good head for money etc: and Elvis said she was smart and was proud of her intelligence. He would have trusted her to take care of their child, to fight for her and she did. wjh

[Rainbow Light]

Thank you for clarifying this matter, Wanda!

[Trezyours]

Thanks for the info Wanda. I have never seen any literature about the estate being in the divorce settlement. Would you let me know where I could read up on this?

thanks again
Vera

[Wanda June Hill]

Since it was done long before he drew up his will, it would be considered as "debt" in the will and not be spelled out therein as owned or in lieu of to her. I haven't seen the finanacial part of the will either-and I do not think it's "out there" as those kinds of things do not have to be made public except as to those who are involved want it public and I don't think it was released as a break down of every cent owned etc;. At least I never saw anything like that. Knowing Elvis, he wouldn't have wanted it "out there" either. There are alot more papers that were not released-we saw only the basic will as pertaining to just what a regular will would have. The breakdown would have been over anyone's heads anyway. All that had to be listed were his assets-and they were-generalized versions anyway. Apparently from what I heard from sources who were around the estate for several months afterward-until they were let go and not needed-there was a "bank" of lawyers and investment counselers trying to "figure out" the ins and outs and getting ready for going to court etc: and that it was so complicated they had to call in experts and more experts just to get through all the little things the Col. and inserted here and there through out ever deal he ever made-and that Elvis came out on the short end of the stick every time. Usually he paid for everything and the Col paid for nothing...he just took...he didn't even pay taxes on things-in stead stuck Elvis with that...thus Elvis estate owed large amounts in BACK taxes that in fact Elvis never got the money he was pay taxes on...but it could not be found....so where did it go? No one knows but Elvis didn't get it-he still had to pay a large portion of taxes on much of it as it was "earned in his name." I guess if they hadn't gone to court, sued and then settled, Graceland would have been taken over by the US IRS and divided out for money owed-the city of Memphis wanted to buy the place, but they didn't have the funds for all that back tax=etc:. I don't know how it all ended up but I know that they paid off the taxes thanks to the fans coming to Graceland, in about the first 4 years so it was free and clear of that. And now I think most likely, it will always be around, barring a tornardo or something. wjh

[Trezyours]

Thanks again for your input Wanda. I understand that there is no mention of it in the will. If it was in the divorce settlement it would not need to be reiterated. I have never read that the Graceland estate was part of the divorce settlement and wondered how you came to know about that. Is there any information to Elvis' Estate being part of the divorce settlement anywhere I can refer to? Any info in this regard would be appreciated.

On a side note - Elvis Presley in Concert presale tickets are available here in Australia at the moment. They are sooooooooooooo expensive. As much as I love Elvis I cannot justify the ticket price. Now if it was Elvis in person I was going to watch and not a screen I would be prepared to pay a whole lot more!!!!!!

Cheers
Vera

[Wanda June Hill]

Hi, when I went to court to get the rights to my manuscript back and to reprint at sime time should I want to with no strings tied up with the first publisher etc; I won. My lawyer was a friend of Elvis' and Elvis had told me if I ever neded a good lawyer to call him and mention his name and I did. In our conversations, I heard things I didn't know and some of them were surprising as was the fact Elvis had signed over half the value of Graceland it's self, to his exwife in lieu of money he would be owing her and to ensure she had input into what happened to it. Elvis had not told me that-nor had he mentioned writing his will. I didn't know he had done that until his death. And I also learned that he had discussed doing a will in late 1975 because he wanted to protect his daughter and his remaining relatives if any. There were several legal issuses going on from 1969 up until his death. It was like he had become a target an a "bunch of crazies are shootin' at me". wjh

[Lighthouseseeker]

so this will be another issue disturbing me since there's no way to be sure..was it something against his wishes or not.. the only important thing is his wishes for me ,don't care what was right or wrong...

[Blue Moon]

the Col paid for nothing...he just took...he didn't even pay taxes on things-in stead stuck Elvis with that...thus Elvis estate owed large amounts in BACK taxes that in fact Elvis never got the money he was pay taxes on...but it could not be found....so where did it go?

The money which could not be found - do you suppose that was money which the Colonel took out of Elvis' paycheck in order to pay the mafia (the real one) off for his gambling debts?

[Amanda Viola]

I figure out that Elvis worked hard to gather the money that set him free, buying his contract back. But of course, I don't know what happened really.

[Rainbow Light]

No, me neither but I believe Elvis did work hard to be able to be 'free' of that contract so that he would be able to do more of what he truly wanted to do but it wasn't to be.

[Wanda June Hill]

I don't know, Elvis didn't tell me those kinds of things often, and he didn't say anything about his will to me other than he had one. He really didn't have much of a clue to Parker's deals etc;...not interested in it early on and that turned out to be a mistake he made- trusting too many as his daughter says. She is very sharp and has learned a lot, good for her! I was very much surprised to find that he had given Pris any part of Graceland-but I learned about it some time after his death and when his will was "released" in part. They never have to disclose the financial matters of that will or settlements etc:...just the general "estate" and things at Graceland and etc:. All the rest is private and probably never will come out in detail. The financial end of the divorce also does not have to be public record-not detailed anyway. And I've seen and heard the "general" conclusion concerning what she got...he gave her whatever she asked for- And was very generous. wjh

[Rainbow Light]

Certainly I can well imagine so; Lisa is indeed sharp and has learnt a lot, wish her all the very best!

[Amanda Viola]

Lisa is indeed sharp and has learnt a lot, wish her all the very best!

Nothing else but to share what you say above, Sue!

[Rainbow Light]