Judge Approves Lisa Marie Presley Estate Settlement; Other Presley Family News
#ElvisPresley granddaughter Riley Keough has officially become the sole trustee of Lisa Marie Presley‘s estate.
Exclusive details here: https://t.co/JfU6g6W6lo #lisamariepresley #rileykeough #news pic.twitter.com/MgNxkHAjn0
- The Blast (@TheBlastNews) August 4, 2023
• On Friday, a judge approved the agreement between Priscilla Presley and Riley Keough over Lisa Marie Presley's trust. Priscilla had taken the issue to court since she had been removed by Lisa Marie in 2016 as trustee with daughter Riley and son Benjamin appointed. Riley became sole trustee upon Benjamin's death in 2020.
• Riley has officially been made the sole trustee of the Promenade Trust, and it was confirmed she would not charge any fees for her services as the trustee (whereas Priscilla would have taken a fee). The judge also granted the family's request that approval of the settlement is in the best interest of the minor children (Riley's twin half-sisters, Harper and Finley, 14) with a signature of approval from their father, Michael Lockwood. The judge also noted that Lockwood, who is serving as Guardian Ad Litem, is acting in the twins’ best interests and that his signature is both valid and binding.
• Riley now officially owns Graceland. And as per the settlement between Riley, Priscilla and Lockwood, Riley will be the sole trustee for her estate and the sub-trusts set up for her sisters. Riley's attorney Justin Gold emphasized that Riley will manage and invest the funds based on the “needs of the beneficiaries, free from any personal desires or influences of a trustee.”
• Priscilla, when she passes away, will be buried at the Meditation Garden on the Graceland property, which was allegedly a fight between her and Riley since Priscilla wants to be laid to rest next to Elvis while Riley wanted nothing and no one moved. According to documents, her final resting place will be arranged so that it is the “closest to Elvis Presley without moving any existing gravesite.” The Meditation Garden is also the final resting place for Elvis’ mother, Gladys Presley, Lisa Marie, and her son, Benjamin, who passed away in 2020.
• Priscilla will also receive a lump sum payment from the Trust, although the exact amount has not yet been made public. She will also serve as a trustee for the sub-trust designated for her own son, Navarone Garibaldi, who is Lisa Marie Presley’s half-brother. This sub-trust will entitle Garibaldi to a 1/9 share of the overall Trust. The remaining 8/9 of the Trust will be divided among Lisa Marie’s daughters: Riley, Finley, and Harper.
• Priscilla was immediately removed as the trustee of Lisa Marie's estate on May 11, 2023 in exchange for the settlement. She was also given the new title of “Special Advisor to the Trust.” Documents reveal that Riley will compensate her for her services through monthly payments, although the sum of those payments has not yet been disclosed. Riley will be allowed to terminate Priscilla's role as Special Advisor without notice or reason, should she see fit.
• However, the motion to seal the dollar amounts of the trust provisions (as requested by Riley and Priscilla) will be decided by the court at a later date. Legal counsel for the parties involved did not offer comment.
In other news, Riley has been promoting her acclaimed, Caméra d'Or winning indie film War Pony (she is promoting as the director, along with Gina Gammell), and stepped out with her daughter and younger sister Finley in Calabasas.
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Riley was out shopping with her sister, daughter and husband Ben (not pictured).
Had the pleasure of meeting the team behind this beautiful and poetic film. Beautifully directed in their feature film debut by Riley Keough & Gina Gammell. I recommend seeing it, where ever you can. Support independent film. Barbie won’t be upset. Watched at @vidiots pic.twitter.com/DFRmMsI8oV
- George Zaver (@GeorgeZaver) August 3, 2023
Riley also promoted her film War Pony.
August 2: Riley Keough seen arriving for the War Pony Q&A in Eagle Rock, California
More photos: https://t.co/RGtu9uCLiX pic.twitter.com/xyFh3ukG2f
- Riley Keough Photos (@keoughphotos) August 3, 2023
Lisa Marie Presley's home is on the market, and ET has pics of the residence.https://t.co/v5rlM03bsj
- Entertainment Tonight (@etnow) August 1, 2023
And finally, Liaa Marie's final home is up for sale.
• The 4.6 million dollar home boasts six bedrooms and seven baths. Sitting at just under 7,500 square feet, the property includes a home theatre, a wine cellar, a pool and gorgeous views of the surrounding canyon.
• The home was completely renovated after Lisa Marie's passing.
• According to TMZ, when Lisa Marie first saw the house, she fell in love with it, as did her twins and ex-husband Danny Keough, who lived with them. She was planning to purchase the home.
• Pics at the source.
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