Elvis Presley’s granddaughter Riley Keough has officially become the sole trustee of Lisa Marie Presley’s estate.
According to court documents obtained by The Blast, on August 4, a judge in the Superior Court of California, in the county of Los Angeles, signed a document making Riley the sole trustee of Lisa Marie Presley’s estate.
Riley Keough Is Now the Official Sole Trustee of Lisa Marie Presley’s Estate
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On June 12, 2023, Riley Keough filed to be the sole trustee of Lisa Marie Presley’s estate. The judge ruled in August that the decision was in the best interests of the Trust and approved the move. The judge also stated that the settlement was in the best interest of the twins, Harper and Finley Lockwood.
The judge also noted that Michael Lockwood, who served as Guardian Ad Litem, was acting in the best interests of the twins and that his signature was valid and binding. As such, Riley Keough is now the sole Trustee of the Promenade Trust, which came as no surprise to many who followed the news.
Riley Keough Will Not Charge Any Fees For Her Services As Trustee
Instagram | Riley Keough
As previously reported by The Blast, Riley said that he will not charge any fees for his services as trustee, which saves money that will be allocated to his mother, Priscilla Presley. As part of the settlement, Riley will also own Graceland. Priscilla, when she dies, will be buried in the Meditation Garden on the Graceland estate, near where the King of Rock and Roll himself is buried.
In court documents obtained by The Blast, the “Good Doctor” actor first petitioned the court to approve a settlement between himself, grandmother Priscilla Presley, and Michael Lockwood, who acted as Guardian Ad Litem for Lockwood’s twin twins, in early June. . According to the settlement, Riley will be the sole trustee for his estate and a sub-trust set up for the 14-year-old Lockwood twins.
Priscilla Presley Will Receive Undisclosed Lump Sum Payment From Trust
Instagram | Riley Keough
Riley has said that he will not charge for his services as trustee of the estate. In court documents, her attorney Justin Gold claimed that the decision “will save money that would have been given to Priscilla, which would have charged trustee fees.” Emas further emphasized that Riley will manage and invest the funds based on “the needs of the beneficiaries, independent of any personal preferences or influence of the trustees.”
However, Priscilla will also serve as trustee for a sub-trust set up for her own son, Navarone Garibaldi, who is Lisa Marie Presley’s half-brother. This sub-trust will entitle Garibaldi to 1/9 of the entire Trust. The remaining 8/9 of the Trust will be divided among Lisa Marie’s daughters: Riley, Finley and Harper. Priscilla will also receive a lump sum payment from the Trust, although the exact amount has not been made public.
Priscilla Presley Will Be Allowed to Be Buried at Graceland
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According to court documents obtained by The Blast, Priscilla was removed as trustee of her estate on May 11, 2023. Instead, she took on the role of “Special Advisor to the Trust”. Documents reveal that Riley will be compensated for his services through monthly payments, although the amount of those payments was not disclosed either.
One of the most important parts of the settlement was ensuring that Priscilla would be allowed to be buried at Graceland. According to the document, his final resting place will be arranged so that it is “closest to Elvis Presley without displacing any existing graves.” Ownership of Graceland was given to Riley, who had originally bequeathed it to Lisa Marie Presley when she died.
Elvis is already buried under his grandmother, Minnie Mae, and his father, Vernon Presley, so it’s unclear how far he can get to his resting place. It should be noted that the Meditation Garden is also the final resting place for Elvis’ mother, Gladys Presley, Lisa Marie Presley, and her son, Benjamin, who died tragically in 2020.
As previously reported by The Blast, Lisa Marie Presley on January 12, 2023, after complications from weight loss surgery.
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Source: thtrangdai.edu.vn/en/
