Elvis Presley's Granddaughter Officially Becomes Sole Trustee Of Lisa Marie's Estate

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 off on the documents making Riley the sole trustee of Lisa Marie Presley’s estate.

On June 12, 2023, Riley Keough filed to become the sole trustee of Lisa Marie Presley’s estate. The judge determined on August  that the decision was in the best interest of the Trust and approved the measure. The judge also noted that the settlement was in the best interest of the twins, Harper and Finley Lockwood.

The judge also noted that Michael Lockwood, who is serving as Guardian Ad Litem, is acting in the twins’ best interests and that his signature is both valid and binding. As such, Riley Keough is now the sole Trustee of the Promenade Trust, which is not a surprise to many who have been following the news.

As previously reported by The Blast, Riley said that she would not charge any fees for her services as the trustee, which saved money that would have been allocated to her mother, Priscilla Presley. As part of the settlement, Riley will also own Graceland. Priscilla, when she passes away, will be buried at the Meditation Garden on the Graceland property, close to where the King of Rock and Roll himself has been buried.

In court documents obtained by The Blast, the “Good Doctor” actress first petitioned the court to approve the settlement between herself, grandmother Priscilla Presley, and Michael Lockwood, who is acting as Guardian Ad Litem for the two minor Lockwood twins, in early June. As per the settlement, Riley will be the sole trustee for her estate and the sub-trusts set up for the 14-year-old Lockwood twins.

Riley has said that she will not charge for her services as the trustee of the estate. In the court documents, her attorney Justin Gold claimed that the decision “will save money that would have gone to Priscilla, who was going to charge a trustee fee.” Gold went on to emphasize 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.”

That being said, Priscilla 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 will also receive a lump sum payment from the Trust, although the exact amount has not been made public.

According to court documents obtained by The Blast, Priscilla was removed as the 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 compensate her for her services through monthly payments, although the sum of those payments has not been disclosed either.

One of the most important parts of the settlement was ensuring that Priscilla will be allowed to be laid to rest at Graceland. According to the documents, her final resting place will be arranged so that it is the “closest to Elvis Presley without moving any existing gravesite.” Ownership of Graceland has been given to Riley, which was initially bequeathed to Lisa Marie Presley when he passed away.

Elvis was already buried beneath his grandmother, Minnie Mae, and his father, Vernon Presley, so it is unclear how close she will be able to get to his resting place. It is worth noting that the Meditation Garden is also the final resting place for Elvis’ mother, Gladys Presley, Lisa Marie Presley, and her son, Benjamin, who tragically passed away in 2020.

As previously reported by The Blast, Lisa Marie Presley on January 12, 2023, after complications due to weight loss surgery.