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Riley Keough, the esteemed granddaughter of the legendary Elvis Presley, was officially named the sole trustee of her late mother, Lisa Marie Presley's estate, in a ruling that came today. This appointment was finalized during a hearing on Friday before Los Angeles Superior Court Judge Lynn Healey Scaduto.
The situation surrounding the estate has been filled with legal contention since Priscilla Presley, Lisa Marie's mother, filed a petition in January to challenge the validity of her late daughter's will.
Dispute Over 2016 Amendment
The crux of the legal battle was a 2016 amendment to Lisa Marie's will that excised Priscilla as trustee of the estate.
Attorneys representing Priscilla Presley argued that she had only become aware of this "purported 2016 amendment" following Lisa Marie's death. They further contended that the amendment was never delivered to their client during her daughter's lifetime, casting doubt on its legitimacy.
The controversial amendment removes Priscilla and Lisa Marie's former business manager, Barry Siegel, as co-trustees, replacing them with Lisa Marie's eldest children, Riley and Benjamin Keough. Tragically, Benjamin passed away in 2020.
Riley Keough, a star from the popular series "Daisy Jones & the Six," filed a 73-page petition on June 12 to support her bid for the appointment to head what the family has called the Promenade Trust. Keough had previously reached a settlement agreement with Priscilla Presley and Michael Lockwood, the guardian ad litem for her two younger half-siblings, 14-year-old twins Harper and Finley Lockwood.
Michael Lockwood was Lisa Marie's fourth husband, and their marriage ended in divorce. Danielle Riley Keough, the 34-year-old actress, will also preside over the sub-trusts for her half-sisters. An interesting aspect of this settlement is that Priscilla Presley will act as a special adviser to the trust and receive a monthly payment for her role.
Furthermore, Priscilla will have the right to be buried at Graceland, the iconic Memphis, Tennessee former home of Elvis Presley, now owned by Keough. The family has been mourning the loss of Lisa Marie Presley, who died on Jan.
12 at the age of 54. She was found after suffering cardiac arrest at her Los Angeles home. The autopsy report attributed her tragic death to "adhesions (or, scar tissue) that developed after bariatric surgery years ago." Her death has been recognized as a known long-term complication of this type of surgical procedure, adding a somber note to a complex legal situation that has culminated in this new chapter for the Presley family's legacy.
