Daisy Jones & the Six actress Riley Keough has been named the sole trustee and heir of her late mother Lisa Marie Presley’s estate, which includes Graceland, the former Memphis home of her music legend grandfather, Elvis Presley.
Deadline reported the outcome of Friday’s hearing in Los Angeles Superior Court.
Lisa Marie’s mother, Priscilla Presley, Elvis’ ex-wife and former business manager Barry Siegel will no longer be co-trustees of the estate.
Keough, 34, will also oversee sub-trusts for her two younger half-siblings, 14-year-old twins Harper and Finley Lockwood, as part of the legal arrangement.
Priscilla, 78, will be paid as a special adviser to the trust and allowed to be buried at Graceland when she dies.
She will be the sub-trust trustee for her son — Lisa Marie’s 36-year-old half-brother, Navarone Garibaldi.
“The settlement is in the best interests of minors Harper Lockwood and Finley Lockwood, and confirm that Michael Lockwood‘s signature on their behalf, as Guardian Ad Litem, is valid and binding,” Judge Lynn H. Scaduto wrote in court documents.
According to legal documents obtained by People, Keough’s lawyer Justin Gold wrote that the trust money “will be safeguarded and invested in a manner consistent with the needs of the beneficiaries, and not influenced by the desires of a trustee,” about Harper and Finley as the beneficiaries.
Earlier in June, Priscilla shared how proud Elvis would be of settling with Keough.
“My daughter’s passing was both devastating and heartbreaking,” Priscilla wrote, according to People. “We have learned that the fans realize that we are ‘Just a Family.’ Elvis would be proud and his and Lisa’s wishes are what are most important to all of us.”
Lisa Marie died on Jan. 12, 2023, of complications from a small bowel obstruction. She was 54.
