LOS ANGELES, CALIFORNIA: Riley Keough has submitted a formal request to the court, seeking to become the sole trustee of her late mother Lisa Marie Presley's estate. This development comes after Keough and her grandmother, Priscilla, reached an agreement, effectively bringing an end to their bitter estate dispute. However, as part of the settlement, Priscilla had to give up her desire for a burial spot next to her ex-husband, Elvis.
The paperwork filed by the 'Daisy Jones & the Six' star aims to finalize the arrangement regarding her mother's trust, five months after Presley's death at the age of 54, after having multiple cardiac arrests. The resolution between Keough and Priscilla was publicly announced by their respective lawyers in May during a probate court session in Los Angeles.
Riley Keough is ready to move on from the drama
Sources close to Keough revealed her desire for a drama-free relationship with her grandmother. The 'Zola' actress is relieved to have resolved the dispute over her mother's estate and is focused on "making memories with her own daughter now," an insider told People. Details of the settlement between Keough and Priscilla are likely to remain confidential as the attorneys involved intend to file a motion to seal the information from public access.
Priscilla's attorney, Ronson Shamoun, expressed her satisfaction with the settlement, stating that "the families are happy and unified and together and excited for the future." Keough's attorney, Justin Gold, claimed she was content with the settlement, saying, "She would not have agreed to the settlement if she was not happy with it." Furthermore, throughout her mother's divorce and custody disputes with Michael Lockwood, Keough consistently stood by Presley's side.
What happened at Lisa Marie Presley's funeral?
Priscilla and Presley were reportedly "barely speaking" before the latter's untimely death, with the former aligning herself with Lockwood during the custody proceedings. Despite their public appearances together, including the premiere of 'Elvis', tensions persisted between the mother and daughter. "Riley was always on her mom's side when it came to Michael [Lockwood]," sources reportedly claimed, adding, "It bothered her that her grandmother and Michael flew to [Lisa Marie's] funeral together."
A close friend of Presley's reportedly said, "Michael was not invited. He came to Memphis under the pretense that he had to chaperone the twins - and he forced his way in with Priscilla's help. The last thing Lisa Marie would have wanted was for Michael to be there."
Moreover, the initial conflict between Keough and Priscilla arose when the latter contested Presley's decision in 2016 to modify her will, removing her mother and her former manager as trustees and appointing Keough instead. The will included rights to the Graceland mansion and a 15% stake in Elvis Presley Enterprises.
Priscilla Presley's bitter feud
Just two weeks after Presley's death in January, Priscilla initiated a legal proceedings, questioning the authenticity and validity of the trust. She also claimed to be unaware of the changes made by her daughter in 2016 until after her death. If approved, Priscilla and Keough would have become co-trustees of the estate.
In a separate ruling, Judge Scaduto granted Lockwood's request to be appointed guardian ad litem of twins, Harper and Finley.
This grants Lockwood control over the twins' inheritance until they reach adulthood. Lockwood and Presley had been embroiled in heated disputes over their divorce and child custody arrangements for several years. The settlement also encompasses a second trust linked to Presley's insurance policies, estimated to be around $35M. A hearing is scheduled for August 4, where the court will review and grant official approval for both settlements. However, the precise details of the trust's assets have not been disclosed publicly.
