According to court records, Riley Keough has been designated the sole trustee of her late mother Lisa Marie Presley’s estate.
A Los Angeles Superior Court judge accepted a settlement suggested by Keough, Elvis Presley’s oldest granddaughter, in June after a court struggle with her grandmother, Priscilla Presley, on Friday.
Keough, 34, will also preside over the sub-trusts of her 14-year-old half-sisters Finley and Harper Lockwood, Lisa Marie’s kids from her marriage to singer Michael Lockwood, as a result of the judgment. “The settlement is in the best interests of minors Harper Lockwood and Finley Lockwood, and it confirms that Michael Lockwood’s signature on their behalf, as Guardian Ad Litem, is valid and binding,” wrote Judge Lynn H. Scaduto.
It was previously reported that Keough filed the 73-page petition with the court on June 12 to ratify an earlier settlement deal signed between her, Lockwood, and Priscilla.
In the future, Daisy Jones and the Six actresses will control Elvis Presley’s old residence, Graceland, in Memphis, Tennessee, which he left to his only child Lisa Marie when he died in 1977.
When the agreement was first filed, Keough’s lawyer, Justin Gold, said that if the petition was allowed by the court, his client would not charge for her services as a trustee; therefore, “the beneficiaries all save money that would have gone to Priscilla, who was going to charge a trustee fee.”
Gold went on to say that the funds given to Keough via the trust will be secured and utilized in a manner consistent with the needs of the beneficiaries, and not influenced by the desires of a trustee, referring to the sub-trusts for Harper and Finley.
According to reports, the trust will enable Priscilla to continue as a special advisor and earn a monthly stipend for her function inside the trust.
Priscilla will also be able to retrieve any personal belongings she has stored within any facility controlled by the Graceland estate, and she has been granted permission to be buried on the grounds in the Meditation Garden alongside Elvis, Lisa Marie, and her late grandson Benjamin Storm Presley Keough, who died by suicide at the age of 27 in 2020.
Following Lisa Marie’s unexpected death in January at the age of 54, Priscilla filed a petition the same month challenging the “authenticity and validity” of a 2016 change to her daughter’s living trust that removed her and former company manager Barry Siegel as co-trustees.
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