Riley Keough has been named the heir to Lisa Marie Presley’s fortune and the new owner of Graceland.
Riley Keough has been appointed the only heir to her late mother Lisa Marie Presley’s estate, following a months-long legal struggle.
The ruling was delivered at a hearing before Los Angeles Superior Court Judge Lynn Healey Scaduto on Friday.
Keough will also serve as the trustee for her twin 14-year-old sisters, Harper and Finley Lockwood. She will also get ownership of Graceland.
Following Lisa Marie’s death on January 12, Priscilla Presley filed a petition to contest the will’s validity. The lawsuit challenged a March 2016 amendment in which Lisa Marie removed Priscilla and her former business manager, Barry Siegel, from the board of trustees.
Riley Keough and Benjamin Keough were apparently replaced by the two, who died by suicide in 2020 at the age of 27.
Priscilla reported in May that the disagreement over her late daughter’s trust had been settled out of court, and Riley filed a petition on June 12 to be named sole trustee of Lisa Marie’s estate.
Priscilla submitted a statement of support and was officially removed from her late daughter’s estate as trustee.
The settlement agreement appointed Priscilla as trustee of the sub-trust for her son, Lisa Marie’s half-brother, Navarone Garibaldi, who will be given a one-ninth interest in the trust. Lisa Marie’s daughters will share the remaining 8/9.
Priscilla will receive an undisclosed payment from the foundation and will work as a “Special Advisor to the Trust.” Riley will pay her an unknown monthly salary for her contribution.
Riley will be the owner of Graceland. She will also enable Priscilla to be buried in the Meditation Garden “to the extent of her authority” after her death.
“My family has resolved all confusion as it relates to our plea to the court and requests for document interpretation after my daughter Lisa Marie’s untimely passing,” Priscilla stated in a statement to ET. “Although some media misidentified such a plea as a lawsuit, I want to emphasize that no lawsuit was ever filed against my beloved granddaughter.”
“As a family, we are pleased that we resolved this together,” she continued. “My family and I are hoping that everyone will give us the space we need to properly mourn Lisa Marie and spend personal time together.” We adore and cherish each and every one of you, and the Presley family is stronger than ever.”
We’re relieved that everything has been resolved and that the family may now move on.
