Written by Peter Burditt
On Monday (June 12), Riley Keough became the lone trustee of Lisa Marie Presley’s estate, according to The Hollywood Reporter. The news comes a month after an agreement was finalized between Keough and her grandmother, Priscilla Presley.
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The Daisy Jones and The Six actress approved the deal in a Los Angeles superior court after her grandmother, Presley, disputed the action on the basis that she was never aware of the changes in the will during her late daughter’s lifetime.
The agreement Presley and Keough came to was that Keough would become the solitary trustee of the estate. Presely, in return, would receive a settlement to withdraw all petitions regarding her late daughter’s will.
If Presley were to dispute the deal’s terms, both parties would have to spend hoards of money on legal fees and, more importantly, run the risk of potential familial damages if the case were to be taken to court and be viewed in the public eye.
Furthermore, the arrangement in place has “the beneficiaries all save money that would have gone to Priscilla, who was going to charge a trustee fund,” writes Keough’s lawyer, Justin Gold (quote via People). That being so, Keough and Presley are not the sole members of the famed family who will profit from this endeavor, as Keough will now be in control of her twin sisters’, Harper and Finley Lockwood, sub-trust. Which will most likely be controlled “in a manner consistent with the needs of the beneficiaries,” says Gold.
Between last year’s release of Elvis, the death of Lisa Marie, Keough’s performance in Daisy Jones and The Six, and now this; it’s safe to say that the last year for the Presley family has been an emotional roller coaster ride.
Lisa Marie Presley, the only child of the singer Elvis Presley and his former wife Priscilla, died on January 12 after suffering cardiac arrest. She was 54 years old.
(Photo by Christopher Polk/Getty Images for Wonderwall)