Riley Keough has officially been named the sole trustee of her late mother, Lisa Marie Presley’s estate following a months-long legal scruffle with her grandmother, Priscilla Presley.
According to a report by Entertainment Tonight, a judge signed off on the petition Keough had filed in June to approve the agreed-upon settlement, which was made with Priscilla and Lisa Marie’s ex Michael Lockwood, who is the Guardian Ad Litem for her younger twin half-sisters.
As per the settlement, the ex-wife of Elvis Presley will receive a lump sum, one-time payment from the Trust for an undisclosed amount. Furthermore, she will also serve as a Special Advisor to the Trust, with Keough paying her an undisclosed monthly salary for the position.
Priscilla is also serving as a trustee to the sub-trust of her son, Navarone Garibaldi, who has been granted 1/9 of the Trust.
Meanwhile, the remaining 8/9 of the Trust will be split among Lisa Marie’s daughters: Riley, and the twins Harper and Finley Lockwood.
The War Pony director will also "to the extent of her authority" allow Priscilla to be buried on the property at Graceland’s Meditation Garden upon her death. The doc notes that Priscilla’s burial location "will be at the location closest to Elvis Presley without moving any existing gravesite."
Lisa Marie passed away in January two days after her public appearance at the Golden Globe Awards. At first, the cause of death of the late musician was reported as a cardiac arrest, but it was later revealed that it had been complications of a small bowel obstruction tied to previous bariatric surgery.
Two weeks after Lisa Marie’s death, Priscilla had filed a petition challenging a 2016 amendment made in her late daughter’s will, which left the Daisy Jones & the Six actress, 34, and her late brother, Benjamin (who committed suicide in 2020) in-charge of the Graceland estate. She claimed the will ousted her and business manager Barry Siegel as trustees, which was not legitimate.
News reports suggested of the rift between the duo, however, when the settlement was reached in May, Priscilla said in a statement that she never filed the case against her ‘beloved’ granddaughter and was ‘pleased’ to have resolved the matter.
Ronson J. Shamoun, who represents Priscilla told ET at the time, "All parties have reached a settlement and the families are happy. They are very excited for the future."
Keough’s lawyer, Justin Gold, agreed telling ET, "Riley is very happy. She’s a remarkable woman and her future is bright."