Posted on: August 5, 2023, 01:35h.
Final up to date on: August 5, 2023, 01:37h.
Riley Keough, the eldest of 4 grandchildren of Elvis Presley, was named the only trustee of the property of her late mom, Lisa Marie Presley. The appointment, introduced on Sunday, formally settles a authorized dispute between Keough and her grandmother, Priscilla Presley, who married Elvis in 1967 however divorced him 4 years earlier than his 1977 demise.
The appointment — accepted by LA Superior Court docket Decide Lynn Healey Scaduto on Friday — makes Keough, 34, the only inheritor to her late mom’s property, which a Presley government advised Rolling Stone journal in 2020 was price between $400 and $500 million.
It additionally makes her the brand new proprietor of Graceland, Elvis’ former mansion in Memphis, Tenn., which Lisa Marie inherited upon her well-known father’s demise in 1977.
Lisa Marie, the one little one of the late rock legend, was the only beneficiary of a belief that included the Graceland and 15% of the profitable Elvis Presley Enterprises. In 1993, she appointed her mom after which enterprise supervisor, Barry Siegel, as co-trustees.
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A number of weeks after Lisa Marie died instantly in January at age 54, from what was later decided to be a small bowel obstruction attributable to bariatric surgical procedure, Priscilla filed a petition disputing a 2016 modification to her daughter’s will. That modification eliminated her and Siegel as trustees of the property and changing them with Lisa Marie’s 4 kids: Riley; her 14-year-old twin half-sisters Harper and Finely Lockwood; and Benjamin Keough, who died by suicide at age 27 in 2020.
Priscilla’s attorneys claimed she solely grew to become conscious of the modification after her daughter’s demise. They argued that the modification was by no means delivered to their consumer throughout Lisa Marie’s lifetime. They usually argued that the modification misspelled Priscilla’s title, wasn’t witnessed or notarized, and that “Lisa Marie’s signature seems inconsistent together with her regular and customary signature.”
In Could, Riley, Priscilla, and Michael Lockwood — Harper and Finley’s father and Lisa Marie’s fourth husband earlier than they divorced — privately settled their dispute, declining to disclose the precise particulars.
Priscilla will function particular adviser to what’s now her granddaughter’s property, receiving a month-to-month stipend for her function. She may even be allowed to be buried at Graceland.