Riley Keough is officially filing to become the SOLE trustee of her late mother’s estate.
One month after coming to a settlement with grandma Priscilla Presley over Lisa Marie Presley’s estate, the Daisy Jones & the Six actress has filed to be the one and only trustee. In documents obtained by Entertainment Tonight Tuesday, Riley requested Los Angeles courts approve the settlement she and Priscilla came to last month after their months-long legal battle over the estate.
Related: Riley’s Touching Mother’s Day Tribute To Lisa Marie
As a refresher, Lisa Marie removed her mother as a trustee on her estate in 2016, replacing her with her oldest children, Riley and Benjamin, who later died of suicide in 2020. However, according to Priscilla, she was not aware of this change, and therefore contested it in court following the Storm & Grace singer’s tragic early death in January. From there, an intense legal battle took off, with Michael Lockwood, the father of Lisa Marie’s 14-year-old twins Harper and Finley, being roped in as well.
However, as we reported last month, the grandmother and granddaughter finally came to an agreement, which according to TMZ, seems to be a payout to Grandma in the MILLIONS, which left Priscilla and the rest of the family “unified” and “happy.” Now, Riley is left figuring out the details of her trustee role.
According to the outlet, the docs confirmed the existence of a life insurance policy at the time of Lisa Marie’s death. So that’s noteworthy. But the real juicy part comes in the description of Riley’s proposed role…
In the legal docs, Riley made clear that she will not be charging for her trustee role, which her lawyer, Justin Gold, says “will save money that would have gone to Priscilla who was going to charge a trustee fee.” Damn, that’s a little shady. She’s saying Priscilla was going to pay herself a fee from the trust — just for being a trustee?? Huh.
The legal specialist also writes in the docs that Riley plans to protect and invest Lisa Marie’s money “in a manner consistent with the needs of the beneficiaries, and not influenced by the desire of a Trustee.” Whoa! Now that sounds way shady! Tell us we aren’t the only ones reading between the lines that Riley is telling the court (and the rest of us) how she thinks Priscilla would have handled being a trustee! Sounds to us like she thinks that would have been more fueled by self-interest than looking out for her great-grandkids! Huh.
Related: Riley ‘Locked Out’ Priscilla From Graceland In The Heat Of Their Feud!
Innerestingly, Priscilla will have some degree of a trustee role, though, as she will apparently serve on the sub-trust for her son, Lisa Marie’s half-brother Navarone Garibaldi, who is set to receive 1/9 of the trust. The other 8/9 will be shared between Riley, Harper, and Finley. However, that’s about the extent of Priscilla’s role. According to the outlet, the settlement agreement she signed last month is binding, regardless of its status in court. But we have a feeling she’ll be fine with her reported millions. LOLz.
This all means that Riley will now be the owner of Graceland — where Elvis, Lisa Marie, Benjamin, and Elvis’s father and grandmother are all buried. On that note, remember how Priscilla requested to be buried next to her former lover post-mortem, and was denied? Well, it sounds like a compromise has been struck there, too. According to the docs, Riley will “to the extent of her authority” allow her grandmother to be buried on the Graceland property — just not RIGHT next to Elvis like she had requested. Instead, her burial location “will be at the location closest to Elvis Presley without moving any existing gravesite.” Fair enough.
Well, it sounds like everyone is pretty much getting what they wanted in the end. Are YOU happy to see all these legal troubles being resolved, Perezcious readers? Let us know in the comments down below!
[Images via Late Night with Seth Meyers/YouTube & Apega/Avalon/WENN]
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