POP/ROCK - Dec. 22, 1989
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Presley Estate Turned Over to Daughter: Elvis Presley’s $100-million estate has been turned over to his daughter and sole heir after more than a decade of legal disputes, slowed down because of a woman’s claim to be the King’s illegitimate daughter. The estate will continue to be managed for Presley’s daughter, Lisa Marie, 21, by a trust until 1998. Presley died at his Graceland mansion in Memphis in 1977. Lisa Presley would have taken sole control of the estate at 25, according to her father’s will, but last year she agreed to extend the trust until 1998. Lisa Presley’s mother, Priscilla Presley, was divorced from Elvis when he died. The estate was valued at $5 million to $7 million at Presley’s death. The trust opened Presley’s mansion to tourists in 1982, and the estate also draws royalties from his recordings and controls use of his name and image.
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