Webdesk: After the family court fight, Riley Keough will be the sole trustee of Elvis Presley’s Graceland estate.
One month after Keough and her grandmother Priscilla Presley settled the estate of Lisa Marie Presley. People Magazine reported this news.
In Los Angeles court records filed Monday, the 34-year-old Daisy Jones & the Six star requested approval of last month’s settlement agreement.
Keough will not charge for her trustee services, so if the court accepts her, “the beneficiaries all save money that would have gone to Priscilla who was going to charge a trustee fee,” her lawyer Justin Gold said.
He added, “In settling the claims pending in Priscilla’s Petition, the parties are saving significant legal fees by avoiding litigation. They are likewise avoiding the spectacle of intra-family litigation that would have been inimical to Lisa’s wishes. It is not in the best interests of the family.”
Priscilla, 78, signed a settlement agreement on May 11, 2023, removing her as Trustee of the estate.
Priscilla launched the case two weeks after Lisa Marie Presley died in January. Challenging the 2016 will revision that left Riley in charge and removed her and business manager Barry Siegel as trustees.
After the settlement, the Trust will provide Priscilla a lump sum payout.
The documents also state that Keough will pay Priscilla an unknown monthly amount as “Special Advisor to the Trust.”
She will also manage Harper and Finley Lockwood’s 14-year-old sub-trusts. Her attorney said she will protect and invest the money “in a manner consistent with the needs of the beneficiaries, and not influenced by a Trustee.”
Priscilla will be Trustee of Navarone Garibaldi’s sub-trust, which will get 1/9 of the Trust.
