After a months-long legal battle, Riley Keough has officially been named the sole heir of her late mother Lisa Marie Presley’s estate.
The decision was made Friday during a hearing before Los Angeles Superior Court Judge Lynn Healey Scaduto.
In addition, Keough will also become the sub-trusts for her twin 14-year-old sisters, Harper and Finley Lockwood. She will also become the owner of Graceland.
Following her daughter’s death on January 12, Priscilla Presley filed a petition to challenge the validity of Lisa Marie’s will. The action disputed a March 2016 amendment where Lisa Marie removed Priscilla and her former business manager, Barry Siegel, as co-trustees.
The two were reportedly replaced by Riley Keough and Benjamin Keough, who died in 2020 by suicide at 27.
In May, Priscilla stated the dispute over late daughter’s trust had been settled out of court, and on June 12, Riley filed a petition to be named to sole trustee of Lisa Marie’s estate.
Priscilla filed a declaration of support and was officially removed as the trustee to her late daughter’s estate.
The settlement agreement named Priscilla trustee of the sub-trust for her son, Lisa Marie’s half-brother, Navarone Garibaldi, who will be granted 1/9 of the trust. The remaining 8/9 will be split among Lisa Marie’s daughters.
Priscilla will receive a lump sum from the trust for an undisclosed amount and will serve as a “Special Advisor to the Trust.” Riley will pay her an undisclosed monthly amount for her role.
Riley will own Graceland. She will also “to the extent of her authority” allow Priscilla to be buried in the Meditation Garden upon her death.
“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 said in a statement to ET. “Although some media identified such a plea as a lawsuit, I want to make clear that there was never any lawsuit filed against my beloved granddaughter.”
“As a family, we are pleased that we resolved this together,” she added. “My family and I hope that everyone will grant us the privacy we have needed to properly grieve Lisa Marie and spend personal time together. We love and appreciate all of you and the Presley family is stronger than ever.”
READ MORE:
- Priscilla Presley and Riley Keough reportedly at odds about Lisa Marie Presley’s trust
- Priscilla Presley makes emotional statement on Lisa Marie’s 55th birthday
We’re glad to see everything has finally been put to rest and the family can finally move forward.
