Actress Riley Keough, daughter of Lisa Marie Presley, will be the sole trustee of her mother’s estate.
Keough will reportedly not charge anything for her services as trustee, saving money that will go to her grandmother, Priscilla Presley. Priscilla, on the other hand, will act as trustee for her son’s sub-trust.
As part of the settlement, Keough will also own Graceland, and Priscilla, after her death, will be buried in the Meditation Garden on the Graceland property, ensuring she is buried close to Elvis Presley’s resting place.
Read on to learn more.
Riley Keough Becomes Sole Trustee of Her Mother’s Estate
Instagram | Riley Keough
In a recent development, legal documents filed in Los Angeles reveal that Riley Keough is slated to be the sole trustee of Lisa Marie Presley’s estate.
Documents obtained by Entertainment Tonightrevealed that the “Good Doctor” actress has petitioned the court to approve a settlement agreement between herself, her grandmother Priscilla Presley, and Michael Lockwood, acting as Guardian Ad Litem for her siblings.
Under the terms of the settlement, Keough will be the sole trustee of her mother’s estate and a sub-trust designed for her 14-year-old twin sisters, Harper and Finley Lockwood.
Riley Keough Will Not Charge Any Fees For Trustee Services
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This arrangement is separate because Keough has decided not to charge for his services as a trustee. In the document, her lawyer, Justin Gold, stated that this decision “will save money that would have been given to Priscilla, which would have charged trustee fees.”
Additionally, Keough’s attorney emphasized that he intends to manage and invest the funds in a manner guided entirely by the “needs of the beneficiaries, independent of any personal desires or influence of the trustees.”
In addition, documents confirm the existence of a life insurance policy at the time of Lisa Marie’s death, per ET.
Priscilla Presley Becomes Sub-Trustee
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Meanwhile, Priscilla will take on the role of trustee for the sub-trust set up for her son, Navarone Garibaldi, who is Lisa Marie’s 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 daughters Lisa Marie, Riley, Finley and Harper.
Additionally, as part of the settlement, Priscilla will receive a lump sum payment from the Trust, the exact amount of which remains undisclosed.
Instagram | Priscilla Presley
Notably, Priscilla was officially removed as trustee of Lisa Marie’s estate on May 11, 2023. According to recently filed documents, this change took effect immediately after Priscilla signed the settlement agreement, regardless of court approval.
The new document also reveals that Priscilla will assume the role of “Special Advisor to the Trust,” with Keough compensating her through an undisclosed monthly fee for her advisory services.
Priscilla Presley To Be Buried In Meditation Garden After Her Death
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As part of the settlement, Keough will take over ownership of Graceland, the iconic home of the late music legend Elvis Presley, which was initially bequeathed to Lisa Marie by her father after his death. As a gesture of goodwill, Keough will allow Priscilla to retrieve any personal items that may be at Graceland or in any storage unit under Graceland’s control.
Additionally, the document states that Keough, within his powers, will allow Priscilla to be buried on the Graceland property, specifically in the Meditation Garden, after her death, every ET. Notably, the location for Priscilla’s burial will be arranged so that it is “closest to Elvis Presley without moving any existing graves.”
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The topic of Priscilla’s future burial site has reportedly been discussed during negotiations, with TMZ reported his desire to be buried next to the King of Rock and Roll.
However, since Elvis was buried between his grandmother, Minnie Mae, and his father, Vernon Presley, careful consideration was made to maintain the existing arrangement. The Meditation Garden is the final resting place of Elvis’ mother, Gladys Presley, Lisa Marie, and her son, Benjamin, who died tragically in 2020.
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Source: thtrangdai.edu.vn/en/
