On Friday, the judge appointed Riley Keough as the sole trustee of the estate that belonged to her late mother, Lisa Marie Presley. This was a triumph for Riley that was bittersweet in nature.
Things became official when a court granted Riley’s petition from June to ratify the settlement agreement that she, her grandmother Priscilla Presley, and Michael Lockwood, the Guardian Ad Litem for Riley’s two younger brothers, had agreed. The deal was negotiated between Riley, Priscilla Presley, and Michael Lockwood. According to the details of the deal, which Entertainment Tonight was able to get back in June, Riley will act as the sole trustee of her mother’s estate as well as the sub-trusts for her sisters, who are twins ages 14 and Harper Lockwood.
For her part, Priscilla will take on the role of Trustee of the sub-trust that will be established for her son, Navarone Garibaldi, who will be given one-ninth of the Trust. Navarone is Lisa Marie’s half-brother. The remaining eight and a ninthths of the Trust will be divided equally amongst Lisa Marie’s three kids, Riley, Finley, and Harper.
In addition, Priscilla will be given a one-time payment in the form of a lump sum from the Trust for an amount that has not been published. She will also take on the job of “Special Advisor to the Trust,” for which Riley will pay her an amount that has not been announced on a monthly basis.
Riley will own Graceland, the mansion of Elvis Presley, which he gifted to his daughter Lisa Marie after he passed away. Graceland is located in Memphis, Tennessee. Riley will let Priscilla to recover any personal goods she may have stored at Graceland or in any storage facilities managed by Graceland.
When Priscilla passes away, Riley will also, “to the extent that is within her authority,” let her to be buried on the Graceland site, specifically in the Meditation Garden. According to what is said in the document, Priscilla’s tomb “will be at the location closest to Elvis Presley without moving any existing gravesite.”
Reportedly, Priscilla’s future interment had been a bone of dispute in the discussions. In May, TMZ claimed that she had wished to be buried close to her late ex-husband and that this had been one of the points of conflict. However, Elvis Presley has already been laid to rest in the family plot beside his grandmother Minnie Mae and his father Vernon Presley. Gladys Presley, who was Elvis’ mother, Lisa Marie, and Benjamin, who was Lisa Marie’s son who passed away in 2020 are also laid to rest at the Meditation Garden.
On January 12, 2023, Lisa Marie passed away. Her age was 54.
Priscilla made the decision to question “the authenticity and validity” of Riley’s appointment as single trustee after Benjamin’s passing after the passing of her daughter. She did this by asserting that “there are many issues surrounding” the designation of Riley as sole trustee. Priscilla, however, put an end to any rumors that there was a breach between the members of the family after they reached their agreement in May and subsequently filed it to the court for approval in an official capacity.
“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 stated in a statement that was sent to ET after the passing of Lisa Marie. “I want to make it perfectly clear that there was never any lawsuit filed against my cherished granddaughter, despite the fact that some media outlets misidentified such a plea as a lawsuit,” the grandmother said.
“As a family, we are pleased that we resolved this together,” she continued to say. “My family and I hope that everyone will grant us the privacy we have needed to properly grieve the loss of Lisa Marie and to spend personal time together,” said the author. We have so much love and gratitude for each and every one of you, and the Presley family is becoming stronger every day.
