She may have had only one child with Elvis and others afterwards, but that one child is Elvis's only child and presumably his heir - he died when she was only 9 so I would presume that her mother would have been a trustee until she was of an age to inherit.
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.
The Graceland Operation Elvis Presley could have left one of the great fortunes of entertainment history, had he been one to worry about financial planning, rather than freely enjoying and sharing his wealth as he did. While the estate he left was by no means broke, there was a cash flow problem, especially with Graceland costing over half a million dollars a year in maintenance and taxes. It seemed logical for Priscilla and the executors to open Graceland to the public.
It's a business because people are still interested in everything to do with Elvis and Priscilla helps to run it at the request of the heir - her daughter. Lisa sold a major part of it in 2005 but why should an outsider have more to do with the business than an ex-wife and mother of Elvis's child?
