Riley Keough was named as the sole trustee of her late mother’s, Lisa Marie Presley‘s, estate on Friday. The settlement was made official when a judge signed off on Riley’s June petition to approve the agreement reached between her, Priscilla Presley, her grandmother, and Michael Lockwood, who had been appointed Guardian Ad Litem for Riley’s younger siblings, Entertainment Tonight reported. In accordance with the settlement terms, Riley will be the sole trustee of her mother’s estate and the sub-trusts for her twin sisters, Harper and Finley Lockwood, both 14 years old. As for Priscilla, she will serve as Trustee of the sub-trust, which will benefit her son and Lisa Marie’s half-brother, Navarone Garibaldi, who will receive a portion of the Trust as part of the settlement. Lisa Marie’s daughters Riley, Finley, and Harper will split the remaining 8/9 of the Trust.
In addition, Priscilla will receive a one-time lump sum for an undisclosed amount from the Trust and will serve as the Trust’s “Special Advisor,” with Riley paying her an undisclosed monthly amount. Riley will become the owner of Graceland, the Elvis Presley residence that Lisa Marie inherited from her father when he passed away in Memphis, Tennessee, and will allow Priscilla to retrieve any personal belongings she has in Graceland or any storage units owned by Graceland. Additionally, Riley will allow Priscilla to be buried in the Meditation Garden on Graceland’s property “to the extent of her authority.”. According to ET, the document states that Priscilla’s burial place “will be at the location closest to Elvis Presley without moving any existing gravesite.” Lisa Marie died on Jan. 12, 2023, at the age of 54.
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Priscilla contested Riley’s appointment as sole trustee following her daughter’s death, claiming that “there are many issues surrounding” it. As soon as they reached an agreement in May and submitted it to the court for formal approval, Priscilla put an end to any speculation of a family divide. “My family has resolved all confusion as it relates to our plea to the court and request for document interpretation after my daughter Lisa Marie’s untimely passing,” Priscilla said in a statement. “Although some media identified such a plea as a lawsuit, I want to make clear that there was never any lawsuit filed against my beloved granddaughter.” “As a family, we are pleased that we resolved this together,” she added. “My family and I hope that everyone will grant us the privacy we have needed to properly grieve Lisa Marie and spend personal time together. We love and appreciate all of you and the Presley family is stronger than ever.”
