Riley Keough is celebrating a bittersweet legal victory after being named as the sole trustee of the estate of her late mother, Lisa Marie Presley.
Back in June, the Daisy Jones and the Six star filed a petition for a judge to approve the settlement agreement reached between her, her grandmother Priscilla Presley, and Michael Lockwood, the appointed legal guardian for her two younger siblings.
The settlement detailed that Keough would be the sole trustee of her mother’s estate, and also of the sub-trusts for her sisters, 14-year-old twins Harper and Finley Lockwood.
Lisa Marie died in January of this year following complications from a small bowel obstruction.
The family has been locked in a legal battle over her estate ever since. Lisa Marie’s father, Elvis Presley, left everything in her name when he died, including his Graceland property. However, her trust had dwindled by the time she died.
Originally, Priscilla had been one of the co-trustees of that trust but in 2016 Lisa Marie removed her mother as a co-trustee and instead appointed Keough and her brother, Benjamin Keough, as co-trustees instead.
Benjamin died in 2020.
Priscilla also serves a role in the latest settlement, as Trustee of the sub-trust for her son, Lisa Marie’s half-brother, Navarone Garibaldi. He will receive one-ninth of the late singer-songwriter’s estate, while the remainder is split between Riley, Harper and Finley.
The settlement also dictates that Priscilla receive an undisclosed lump-sum payout, as well as a monthly amount for her role as ‘Special Advisor to the Trust’.
Riley now owns Graceland, her grandfather Elvis Presley’s estate in Tennessee, which he bequeathed to Lisa Marie when he died in 1977. The settlement stated that Priscilla be allowed to be buried at Graceland’s Meditation Garden when she dies. One document states that her gravesite “will be at the location closest to Elvis Presley without moving any existing gravesite”.
The future gravesite of Priscilla has been a point of contention in the ongoing settlement following Lisa-Marie’s death. She initially requested to be buried next to her ex-husband, Elvis, but his grave is already located between his grandmother and father.
Lisa Marie is also buried at the Graceland Meditation Garden.