Riley Keough Gains Control of Lisa Marie Presley’s Graceland Estate After Resolving Legal Dispute with Priscilla Presley
In a culmination of a months-long legal battle, Riley Keough has emerged as the sole trustee of her late mother, Lisa Marie Presley’s renowned Graceland estate. The dispute, which involved Keough and her grandmother, Priscilla Presley, has finally been settled, with a judge signing off on the agreed-upon resolution.
According to Entertainment Tonight, the settlement also involved Lisa Marie’s ex-husband, Michael Lockwood, who served as the Guardian Ad Litem for her younger twin half-sisters. The approved petition, filed by Keough in June, paved the way for her to assume control of the estate and the trust.
As part of the settlement, Priscilla Presley, the former wife of Elvis Presley, will receive a lump sum payment from the trust, the exact amount of which remains undisclosed. Additionally, she will act as a Special Advisor to the Trust, with Keough providing her with an undisclosed monthly salary for the role.
Under the terms of the settlement, Priscilla will also serve as a trustee to the sub-trust of her son, Navarone Garibaldi, who is entitled to 1/9 of the Trust. The remaining 8/9 of the Trust will be divided among Lisa Marie’s daughters: Riley Keough and the twins Harper and Finley Lockwood.
An interesting aspect of the settlement is that Priscilla Presley will have the option to be buried at Graceland’s Meditation Garden, located as close as possible to Elvis Presley’s burial site, without disturbing any existing gravesites.
The legal dispute arose shortly after Lisa Marie’s passing in January, when Priscilla challenged a 2016 amendment in her late daughter’s will that left Riley Keough and her late brother, Benjamin, in charge of the Graceland estate. Priscilla and her business manager, Barry Siegel, were allegedly ousted as trustees, a move that Priscilla deemed invalid.
The rift between Priscilla and Riley Keough became a subject of media speculation, but both parties expressed relief and contentment when the settlement was reached in May. Priscilla’s attorney, Ronson J. Shamoun, confirmed that all parties involved were satisfied with the resolution and were looking forward to the future.
Keough’s lawyer, Justin Gold, echoed the sentiment, describing Riley as a remarkable woman with a bright future ahead. With the legal dispute now behind them, Riley Keough can focus on honoring her mother’s legacy and ensuring the smooth management of Graceland’s iconic estate.
Riley Keough won a bittersweet legal victory on Friday, when she was named the sole trustee of the estate of her late mother, Lisa Marie Presley.https://t.co/b0fvo8Xv0t
— Entertainment Tonight (@etnow) August 4, 2023