Riley Keough officially takes over mother Lisa Marie Presley’s multimillion-dollar estate
Riley Keough has officially become the sole trustee of her mother’s multimillion-dollar estate after reaching an agreement with her grandmother, Priscilla Presley.
Keough, 34, is the daughter of Lisa Marie Presley and granddaughter of Elvis Presley â and she petitioned the court to approve last month’s settlement agreement to put her in charge of her late mother’s estate.
Priscilla, 78, was officially released as administrator of her late daughter’s estate on May 11, according to the documents.
It was reported yesterday that the Daisy Jones & the Six star had filed paperwork asking the court to finalize the settlement regarding her late mother’s trust, some five months after Lisa Marie’s death at 12 January after multiple cardiac arrests.
Riley Keough, 34, has officially become the sole trustee of her mother’s estate after reaching an agreement with her grandmother, Priscilla Presley
Riley Keough, Lisa Marie Presley and Priscilla Presley were photographed at the Memphis premiere of Elvis in June 2022
That says the lawyer of the actress, Justin Gold, in documents he has seen People that if the court approves the petition, Riley will not charge for her services as a trustee.
He wrote, “The beneficiaries are all saving money that would have gone to Priscilla, who would charge a trustee fee.”
Gold said: “By settling the claims pending in Priscilla’s petition, the parties save significant legal costs by avoiding litigation, and they also avoid the spectacle of family lawsuits that would go against Lisa’s wishes and not in the best interest. .’
Riley is not only the sole trustee of Lisa Marie’s estate, but also the subtrust for her 14-year-old twin sisters Harper and Finley Lockwood.
Riley intends to invest the money “in a manner consistent with the needs of the beneficiaries and unaffected by the wishes of a trustee,” her attorney said.
The latest transaction involving the Santa Monica, California resident comes after she and her grandmother Priscilla, 78, came to an agreement in May after lawyers for both parties at a Los Angeles probate court announced a settlement had been reached.
After the difficult months-long legal battle, Keough “wants no drama with her grandmother,” according to sources close to the actress.
Attorneys for Priscilla Presley and Riley Keough (pictured in 2016 in Hollywood) announced in a Los Angeles court last month that the two had “reached a settlement”
“Riley is relieved to have settled the dispute over her mother’s estate,” an insider told People.
Elvis Presley’s granddaughter is “still grieving for her mother,” who died shockingly at the age of 54 in January after suffering cardiac arrest at her home in Calabasas.
When the legal battle between Keough and Priscilla broke out, Keough hoped they could settle quickly,” the source said.
The source said the tension with Priscilla has been “very hard for” Keough, who is mother to a baby girl with husband Ben Smith-Petersen.
“She now wants to focus on making memories with her own daughter,” the insider told the magazine. “This is her priority.”
Priscilla’s attorney Ronson Shamoun told DailyMail.com she was happy when the settlement was reached, and that “the families are happy and united and together and excited for the future.”
When asked if Keough was happy with the settlement, her attorney Justin Gold told DailyMail.com, “She wouldn’t have agreed to the settlement if she wasn’t happy with it.”
The bitter family feud between Priscilla and Riley over the multimillion-dollar estate of the late Lisa Marie Presley (pictured) ended last month. Lisa Marie was photographed two days before her death at the Golden Globe Awards in LA
Just two weeks after Lisa Marie’s death in January, her mother Priscilla filed a legal challenge against her daughter’s will – which gives control of Lisa Marie’s wealthy Promenade Trust to her daughter Keough.
Keough, who was reportedly furious when her grandmother went to court to protest the will, has not objected to Priscilla’s challenge.
Keough always supported her mother through her lengthy, often vexing divorce and custody disputes with her fourth husband, musician Michael Lockwood, 62, father of Lisa Marie’s twin, 15-year-old daughters, Finley and Harper.
It has been reported that Priscilla and Lisa Marie “barely spoke” just before the latter’s death after Priscilla sided with Lockwood over custody of the twins.
Multiple sources told People that the mother and daughter couldn’t speak to each other despite appearing at multiple events together, including the premiere of the Elvis biopic starring Austin Butler.
âRiley was always on her mother’s side when it came to Michael [Lockwood],â a source told the magazine. âIt bothered her that her grandmother and Michael flew over [Lisa Marie’s] buried together.’