Riley Keough Will Be Sole Trustee Of Mother Lisa Marie Presley’s Estate
(Left) Vogue / YouTube / (Right) Lisa Marie Presley / Instagram
New Details Released About Settlement Over Lisa Marie Presley’s Trust After Months-Long Dispute Between Priscilla Presley & Riley Keough
Following Lisa Marie Presley‘s sudden death on January 12 at the age of 54, a dispute ignited over her estate. Lisa Marie’s mother, Priscilla, filed a petition questioning the “authenticity and validity” of an amendment made to her living trust in 2016.
“…it was never given to Priscilla while Lisa Marie was alive ‘as required by the express terms of the Trust,’ that Lisa Marie’s signature was ‘inconsistent’ with her usual signature, and that there was no witness or notarization,” read the petition.
The contested amendment gave Lisa Marie’s trust to her three daughters, actress Riley Keough and twins Harper and Finley Lockwood. Lisa Marie’s son, Benjamin Keough, was previously listed as a trustee as well. He passed away in 2020.
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After a months-long dispute, Priscilla and Riley reached an agreement on May 16.
“They have reached a settlement. Families are happy,” said Ronson Shamoun, Priscilla’s lawyer. “Everyone is happy. Unified and together and excited for the future.”
“[Riley] would not have agreed to the settlement if she was not happy with it,” said Riley’s lawyer, Justin Gold.
Lisa Marie Presley’s Daughter Riley Keough Will Be Trustee Of Her Estate…Priscilla Presley Won’t Be A Co-Trustee
New details about the settlement over Lisa Marie’s trust were released on Monday (June 12). According to a petition filed by Riley in the Los Angeles County Superior Court, she will take over as the sole trustee of Lisa Marie’s estate. The filing shows Riley will now own Graceland as well.
Riley’s petition indicates her intention to approve a settlement involving an undisclosed payout to Priscilla. Priscilla agreed to not be named a co-trustee of Lisa Marie’s estate.
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Riley’s lawyer, Justin Gold, wrote in the petition:
“In settling the claims pending in Priscilla’s petition, the parties are saving significant legal fees by avoiding litigation and they are likewise avoiding the spectacle of intra-family litigation that would have been inimical to Lisa’s wishes and not in the best interests of the family.”
In addition, Priscilla was given permission to be buried at Graceland one day. As previously reported, Priscilla allegedly wanted to be buried next to Elvis, who was also laid to rest at Graceland. But she was reportedly denied this request.
A prior report from PEOPLE indicated that the next motion for hearing and approval is scheduled for August 4. Stay tuned for any future updates on this story.