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Challenging Priscilla Presley’s Estate

In 2023, Priscilla Presley’s mother, Ann Beaulieu, challenged the validity of her daughter’s living trust. Beaulieu claimed that the trust was not valid because it was not notarized and there was no proof that Priscilla had actually signed and made the changes herself.

The trust was eventually upheld by the courts, but the case highlights the importance of having a valid living trust. A living trust is a legal document that allows you to control how your assets are distributed after you die. It can help to avoid probate, which is a lengthy and expensive court process no family should have to endure.

In order for a living trust to be valid and defensible, it must be signed by the grantor (the person who creates the trust) in front of a notary public.  

If you do not have a living trust, it is important to get one as soon as possible. A living trust can help to protect your assets and ensure that your wishes are carried out after you die.

How a Digital Living Trust Platform Like Dynasty Can Solve Estate Challenges

A digital living trust platform like Dynasty can help to solve the issue of proving intention in the event of a challenge. Dynasty uses modern day technology to create and store living trusts in a secure and tamper-proof manner.

When you create a living trust through a Dynasty, you will be required to provide your personal information. You will also be asked to provide information about your assets, including your bank accounts, investments, and real estate.

Once you have provided this information, the platform will create a living trust document for you. Dynasty then takes you through a secure identity verification and remote notary process which allows you to sign and store your trust in a secure bank grade vault.

If your living trust is ever challenged, your family will be able to provide the court with a copy of the document, its audit log including video evidence, and proof that you intended to make the changes you made. This will help to establish your intention to create the trust and avoid any legal challenges.

Conclusion

A living trust is a valuable tool that can help you to protect your assets and ensure that your wishes are carried out after you die. If you do not have a living trust, it is important to get one as soon as possible. A digital living trust platform like Dynasty can help to make the process easier and more secure.

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What is a Trust?

A Living Trust is a financial tool that lets you plan, organize, and protect your life. It’s a personal entity that allows you to add assets and plan out your inheritance. Eliminating legal battles, cost, and time spent by your loved ones. 

Think of it like a personal LLC that you put everything you own in. Except it doesn’t protect you from liability like an LLC does, it protects you from probate and conservatorship. 

Probate is the complicated court process (12-18 months) where a judge decides what happens to your assets after you die, become incapacitated, or are “deemed” incapable. Creating a living trust allows your assets to completely circumvent probate and immediately transfer to your loved ones. 

In addition to being able to name heirs (your beneficiaries), a Trust also allows you to assign someone to manage it (your successor trustee). Instead of going through probate, your Successor Trustee takes control of the Trust, handles your affairs, and distributes your assets according to your instructions. The person you select as Successor Trustee should be your most trusted person. Like a best friend or closest family member.

At Dynasty, we believe everyone should have a Living Trust. If you have children, assets, or plan to acquire assets in the future, you should create a Trust. That way when you buy your next home, open a bank or brokerage account, get startup shares, etc. – you can immediately title them in your trust.