Lisa Marie Presley Estate Battle Is Over With A Clear Winner
Riley Keough, Lisa Marie Presley's daughter, has been appointed as the sole trustee of her mother's estate.
The battle for Lisa Marie Presley’s estate is over. If you’ve been keeping up on the Presley drama since Elvis Presley’s daughter passed away in January, you’d know that Lisa Marie’s mother, Priscilla Presley, has been contesting the change of her daughter’s will after finding out that she was removed as a trustee from Lisa Marie’s estate and her daughter, Riley Keough had replaced her. Now, Priscilla Presley has agreed to surrender control of her late daughter’s estate to her granddaughter, Riley Keough, as part of a proposed settlement filed in Los Angeles Superior Court, according to The Hollywood Reporter.
Under the agreement, Riley Keough, the daughter of Lisa Marie Presley and granddaughter of the iconic musician Elvis Presley, will assume the role of the sole trustee of the Presley estate. Priscilla Presley will receive an undisclosed sum to withdraw her petition challenging the “authenticity and validity” of a 2016 amendment to her daughter’s will, which had replaced her as a co-trustee.
The late Lisa Marie Presley, who tragically passed away at 54 earlier this year, left behind a substantial and highly lucrative estate, which includes a 15 percent stake in the company controlling Elvis Presley’s intellectual property. Following Elvis’ death in 1977, this stake has been held in a trust managed by Priscilla Presley until now.
The proposed settlement, if approved, will end the contentious legal battle over control of the valuable Presley estate. The filing argues that by settling the claims and avoiding litigation, the parties will save significant legal fees and prevent a spectacle of inner-family conflict that would have been contrary to Lisa Marie Presley’s wishes and not in the family’s best interests.
Riley Keough, who has stepped forward as the new trustee for Lisa Marie Presley’s estate, emphasizes that she will not seek compensation for her services. Keough assures that the money will be safeguarded and invested according to the needs of the beneficiaries and will not be influenced by personal desires.
Additionally, Keough seeks a court order affirming her role as the sole trustee for Lisa Marie Presley’s estate to avoid potential future disputes. Keough will use the document when communicating with third parties, such as life insurance companies, eliminating unnecessary delays in determining the trustee.
The settlement agreement also includes a provision allowing Priscilla Presley, who divorced Elvis Presley in 1973, to be buried in the Meditation Garden of Graceland, now owned by Riley Keough. Also, it grants her the right to name individuals in her will who will participate in planning her memorial service.
Priscilla Presley previously served as a co-trustee with Berry Siegal for most of Lisa Marie Presley’s life before Lisa Marie replaced her mother with her daughter, Riley Keough, and her son, Benjamin Keough, who passed away in 2020, as trustees in 2016. Priscilla’s challenge to her daughter’s will centered on the alleged failure to deliver the amendment during Lisa Marie’s lifetime, as required by the terms of the trust. She also pointed out discrepancies such as misspellings and inconsistencies in signatures.
With this proposed settlement, Priscilla Presley abdicates her position as trustee, leaving the management of Lisa Marie Presley’s estate to her daughter. As Riley Keough assumes the mantle, the family hopes to end the legal turmoil and honor the legacy of their loved ones with unity and respect.
