When Elvis died in 1977, he left most of his fortune to his daughter Lisa-Marie, who was only 9 at the time. The assets, including Graceland, were held in trust for her, with his father Vernon as the executor. Upon Vernon’s death in 1979, this responsibility passed to Priscilla Presley.
Taxes and other bills were eating into the inheritance, and in order to keep it going, Priscilla decided to convert Graceland into a tourist attraction. It rapidly became one of the most popular destinations in the United States, and the income it generated saved the Presley fortune. Graceland was listed in the National Register of Historic Places on November 7, 1991, and declared a National Historic Landmark on March 27, 2006.
