When Lisa Marie Presley passed away earlier this year, she was survived by her three daughters and heiresses, Riley Keough and twins Harper and Finley Lockwood, who are still minors. Lisa Marie always made it clear that she wanted Riley to take over her estate and deal with the web of financial dramas set up by Priscilla Presley. Lisa Marie’s body was barely cold when Priscilla marched into court and tried to invalidate LM’s will and block Riley from taking over her mother’s estate. What followed was several months of legal shenanigans. Everything seemingly ended in June, when Riley gave her grandmother a one-time lump sum payment of about $1.4 million and Priscilla dropped her attempts to invalidate the will. It felt like Graceland – Elvis’s former mansion, now a massive tourist attraction – was still going to be under Priscilla’s purview in some way, but as it turns out, not so much. Riley now owns everything from her mother’s estate.
Riley Keough, the grandchild of Elvis Presley, today was named the sole trustee of the estate of her late mother, Lisa Marie Presley. The appointment was approved during a hearing Friday before Los Angeles Superior Court Judge Lynn Healey Scaduto.
Priscilla Presley had filed a petition to challenge the validity of her late daughter Lisa Marie’s will in January. The legal action disputed a 2016 amendment to Lisa Marie’s will that excised Priscilla as trustee of the estate. Priscilla Presley’s attorneys said she only became aware of the “purported 2016 amendment” after Lisa Marie’s death. Lawyers also contend the amendment was never delivered to their client during Lisa Marie’s lifetime. The amendment removes Priscilla and Lisa Marie’s former business manager, Barry Siegel, as co-trustees and replaces them with Lisa Marie’s eldest children Riley and Benjamin Keough. The latter died in 2020.
The Daisy Jones & the Six star filed a 73-page petition on June 12 in support of her bid for the appointment to head what the family has dubbed the Promenade Trust. Keough had earlier reached a settlement agreement with Priscilla Presley and Michael Lockwood, the guardian ad litem for her two younger half-siblings, 14-year-old twins Harper and Finley Lockwood. Lockwood was Lisa Marie’s fourth husband before they divorced.
The 34-year-old Keough, whose real name is Danielle Riley Keough, also will preside over the sub-trusts for her half-sisters. Priscilla Presley will be a special adviser to the trust and receive a monthly payment for her role. Priscilla Presley also will be allowed to be buried at Graceland, the Memphis, Tennessee former home of Elvis Presley, which Keough will now own.
All of this makes Riley the sole owner and guardian of Graceland. I’m surprised by the news that Riley reached an agreement with Michael Lockwood as well – Lisa Marie and Lockwood were engaged in a long-running custodial battle over Harper and Finley. I suspect that Riley is simply a good person with great lawyers – she never seemed to “go to the mattresses” with her grandmother or Lockwood. She dealt with everything privately and quietly and she walked away with all of the power. And, I mean, this is actually what Lisa Marie wanted – she wanted Riley to inherit everything, despite what Priscilla claims now. I feel so sorry for Riley though – she gave birth to her daughter late last year, then she was deeply grieving for her mom, and dealing with all of this family and financial drama.
Photos courtesy of Avalon Red.
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- Harper Vivienne Ann Lockwood, Lisa Marie Presley, Priscilla Presley, Riley Keough, Finley Aaron Love Lockwood attends the Handprint And Footprint Ceremony honoring Priscilla Presley, Lisa Marie Presley And Riley Keough at TCL Chinese Theatre on June 21, 2022 in Hollywood, California,Image: 701640210, License: Rights-managed, Restrictions: , Model Release: no, Pictured: Harper Vivienne Ann Lockwood, Lisa Marie Presley, Priscilla Pres, Credit line: – / JPI Studios / Avalon
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- Lisa Marie Presley, Priscilla Presley, Riley Keough attends the Handprint And Footprint Ceremony honoring Priscilla Presley, Lisa Marie Presley And Riley Keough at TCL Chinese Theatre on June 21, 2022 in Hollywood, California,Image: 701640237, License: Rights-managed, Restrictions: , Model Release: no, Pictured: Lisa Marie Presley, Priscilla Presley, Riley Keough, Credit line: – / JPI Studios / Avalon
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- HOLLYWOOD, LOS ANGELES, CALIFORNIA, USA – FEBRUARY 23: American actress Riley Keough wearing a Schiaparelli Couture dress arrives at the Los Angeles Premiere Of Amazon Prime Video’s ‘Daisy Jones & The Six’ Season 1 held at the TCL Chinese Theatre IMAX on February 23, 2023 in Hollywood, Los Angeles, California, United States.,Image: 758399948, License: Rights-managed, Restrictions: , Model Release: no, Pictured: Riley Keough, Credit line: Xavier Collin / Image Press Agency / Avalon
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- HOLLYWOOD, CALIFORNIA – FEBRUARY 23: Riley Keough attends the Los Angeles Premiere of Prime Video’s “Daisy Jones & The Six” at TCL Chinese Theatre on February 23, 2023 in Hollywood, California.,Image: 758437267, License: Rights-managed, Restrictions: , Model Release: no, Pictured: Riley Keough, Credit line: Jeffrey Mayer / Avalon
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- Riley Keough attends the 2023 Vanity Fair Oscar Party Celebrating the 95th Annual Academy Awards Hosted By Radhika Jones at Wallis Annenberg Center for the Performing Arts on March 12, 2023 in Beverly Hills, California,Image: 762361908, License: Rights-managed, Restrictions: , Model Release: no, Pictured: Riley Keough, Credit line: – / JPI Studios / Avalon
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- BEVERLY HILLS, CALIFORNIA – MARCH 12: Riley Keough attends the 2023 Vanity Fair Oscar Party hosted by Radhika Jones at Wallis Annenberg Center for the Performing Arts on March 12, 2023 in Beverly Hills, California.,Image: 762898843, License: Rights-managed, Restrictions: , Model Release: no, Pictured: Riley Keough, Credit line: Jeffrey Mayer / Avalon
While doing the publicity for Daisy Jones and the Six, she seemed serene to me. Maybe because in that moment, she was just able to focus on her work. I was sad for her that her mom wasn’t there to support her because I bet Lisa Marie was excited that her daughter played a musician.
I’m glad this has been resolved. I absolutely think this is how Lisa Marie would have wanted it.
I thought she seemed sedated during the Daisy Jones press. I’m sure she was trying to compartmentalize the highest highs of her work on the show, her recent marriage and her new baby and the lowest lows of her mother’s and brother’s premature deaths and her grandmother’s law suit. Not to mention the dark halo of the Elvis movie and Austin Butler’s perma-accent.
100% sedated, and I don’t blame her, Riley’s been through hell the past three years.
And also having to grieve for her brother.
Priscilla is still leeching off the estate as she gets a monthly allowance for being a ‘special advisor’ and doesn’t her son from another marriage/relationship get a % of the money? Will be interesting to she how that pans out once Priscilla passes given that Riley owns everything, means she can change it when her siblings become of age.
Also I wonder how much money she gave to her ex-stepfather to make him go away.
Priscilla saved the estate from bankruptcy after Elvis died and she opened up Graceland as a tourist attraction which brought in huge amounts of money. She also invested the funds wisely and built up a huge fortune for Lisa Marie to inherit. I totally understand why she would want to have a hand in the estate given her past success
Which is utterly fascinating to me, given that Priscilla was Elvis’ ex-wife at the time of his death. I understand you can’t tell the story or Elvis without including Priscilla, nor can you even tell the story of Graceland without including Priscilla, but still. She was an ex. Why would an ex-spouse have any say in the estate?
I do concur with Scout: Priscilla turned the estate around – it was in terrible disrepair and being mismanaged. She tirelessly worked to revive the estate to become an attraction so that fans could see Graceland.
Priscilla is older and I think so much of what she did was a visceral / emotional reaction to Lisa Marie’s death (not to mention, Lisa Marie’s son died in 2020, so she was dealing with the death of her grandson). Perhaps her fighting for control was a way for Priscilla to keep the memories of Elvis & Lisa Marie alive. People often do nonsensical things out of grief as they can’t see of feel their way past their grief.
Priscilla maybe became a monster, but the reasons Elvis’s estate is still a good mine is because of the work she did. It was in RUINS.
Also she took over the estate “even as the ex-wife”
Because she was the living parent to Elvis’s only child, who was a minor.
From memory: Lisa Marie was Elvis’ only heir and she was a child. So Priscilla as LM’s mother had legal control of the estate. She did such a good job that Lisa Marie postponed taking control of the estate from her mother for quite a few years past the legal age.
@Beanie Elvis’s dad, Vernon, was named executor of Elvis’s estate, but he passed a couple of years after Elvis died. Priscilla was the guardian of Elvis’ sole heir, Lisa Marie, who was not of age when her dad died, so naturally she would want a say/role in how her daughter’s birthright was managed. I believe she and Vernon worked together to monetize the estate at first and then was the driving force behind the expansion and turning into the attraction it has become today.
Agree.
And, frankly, isn’t it better left managed by Priscilla than by a 34 yr old girl (no disrespect at all to Riley)? And for what PP has achieved over the decades building Elvis’s enduring memory globally AND the massive success of Graceland, I’d say the ‘pay-off’ is the least she’s due.
The tourist attraction and much of the day-to-day running of the business side of Elvis’s legacy was sold by Lisa Marie some years ago. She retained ownership of the physical house and the grounds and a piece of the business. So Riley was never going to be involved in things like what the price of a ticket to the museum is, but even trust’s reduced stake in the business of Elvis is still worth millions in annual revenues.
Unblinkered- Riley is a mature, fully grown 34 year old WOMAN who seems pretty level-headed, not a girl. I just thought your comment seemed a little odd, like you don’t think a 34 year old is responsible enough to be given authority over and manage that kind of wealth, which isn’t the case.
@unblinkered. Priscilla was 34 when her ex- father in law passed, same
Age Riley is now. She can do this.
I’ve been helping set up a trust for my grandfather and, yes, Riley is now completely in charge as sole trustee, but she doesn’t necessarily “own everything.” I’d find it highly unlikely that she does, as I’m sure Lisa Marie left money to both of her younger daughters.
Being sole trustee just means Riley is solely in charge of making sure everything goes where it’s meant to go.
She is the sole Trustee and not owner or heir. Her sisters are likely equal beneficiaries and will probably have the right to become trustees when they turn 21.
Mimi is 100% correct. As trustee, you technically ‘own’ the estate assets but in trust for the heirs.
The story needs some context. In 2014, Lisa Marie sold 85 percent of Elvis Presley Enterprises to a company called SFX Entertainment for $100 million. Lisa Marie retained ownership of the Graceland house and estate grounds in the transaction. But the museum complex across the street and things like likeness rights went to the company. That company has been running the attraction, licensing and merchandising ever since. But the value of the estate and cut of the profits is still a pretty penny.
I think Priscilla is credited with getting Graceland and the rest of the Elvis Presley estate to its current status. It’s essentially a consolidated business with assets and a considerable value, which was not the case just a few decades ago. These things don’t happen by themselves and she’s been very protective of his legacy. Sadly, I’m sure no one expected Lisa Marie to pre-decease Priscilla. What a series of sad tragedies for that family. RIP
Sounds like Priscilla was very reluctant to give up control. when the amendment was made, why did she need to know about it? is it because she was a trustee? Lisa Marie likely did not tell her because she did not want her to know – as simple as that? The old girl creating all this drama… I think Priscilla might be a bit of a bitch. There, I said it.
Priscilla dumped LM off with the Scientologists when LM was still a child so yeah… I’m not sure she’s a great person/mother.
I read an interview about the Scientology thing. Lisa Marie was a teenager and getting into drugs. Hanging out with the wrong people. Getting taken advantage of. So Priscilla looked around for the toughest anti-drug program she could find. That was Scientology. And that’s why they joined. This was also in the early 1980’s before all of the craziness about that cult was known. So I don’t judge her so harshly for doing that back then…
@ Scout, in the ‘80’s, there are many highly reputable and respected centers across the country that specialize in drug and alcohol treatment. Priscilla could have chosen besides Scientology. I don’t think that Scientology was or is a good fit for any form of addiction.
Maybe Priscilla knew how creepy that final husband was before Lisa Marie found out/believed it? And so she was concerned that guy would be in control of the estate?
Priscilla joined Scientology when Lisa was still a small child, she wasn’t doing drugs or anything at that point. Priscilla took the side of Lisa’s ex husband during the custody battle that’s why they initially fell out, she’s fully on his side and tried teaming up to go after the estate/Riley. It’s all about money for them, nothing else. The estate should lie with Riley, period.
@ AnnaKist, I too see Priscilla in a bad light here too. It takes some chutzpah to file an appeal of your daughter before she is even buried to contest the will. It makes Priscilla look like a bitch because she IS!!! It was of no concern for LM to tell her mother of her changes to her will. That is a personal decision and matter that she herself made. Priscilla wanted to ensure she got her own “handout” and it made her look selfish and greedy. Plus she put her own grandchildren into a tail spin of emotions and turmoil when she didn’t need to. Pricilla should have accepted LM’s wishes and left it at that!
@BOTHSIDESNOW actually it was Priscilla’s business just because being a trustee and per the agreement she was supposed to be informed of any changes.
@ANAKIST Yes it was because she was trusty that it was legally necessary for Priscilla to be informed. Priscilla’s name is legally on these agreements and documents and if changes were made without her knowledge and things took a bad turn it comes back to her. It’s common practice that trustees no matter the situation being formed of any changes legally.
I don’t have anything of importance to add, other than to say that I am huge fan of Riley as both an actor and a person.
Same. Just sending Riley healing wishes as she continues to navigate her grief journey and more joy than she can imagine with her baby and career.
I like her too-but the Scientology thing does give me pause. I know she was raised in it, much like Elisabeth Moss, but ugh.
I hope this sets up Riley and her sisters for life. The situation is so sad. Maybe they can all reconcile at some point, because they have all lost a lot in such a short period of time.
I’m soft on Priscilla for this one. Without her, there would be no estate. Not only did she preserve Elvis’s home, she preserved his legacy. I remember seeing a TV series about Elvis in the early pre-fame years and was shocked by how good it was. Then I read that Priscilla received endless proposals for films, movies, docs on Elvis – so if it went forward, it had to be good.
I agree. The hate she gets baffles me. I believe she loves Elvis deeply and has always honored him. He loved her very much as well and they remained close friends until his death. I’m glad she will be buried with him and her family when the time comes.
@amando; the book I read some years ago said that Elvis used the promise of marriage as a ploy to get Priscilla ‘s parents to agree to let her move to Graceland with him when she was 14. Although fond if her he never intended to marry her until her parents put the pressure on him to make things right. Also his manager and handlers were afraid of the bad publicity if he reneged on his promise. He married her to avoid scandal. I agree that she was in love with him, though.
Her daughter’s will should have been honored without all this extra happenings. It was her choice and at the end of the day she decided to leave everything behind to her girls. Priscilla should have made an arrangement with her daughter while she lived not try to make one while she is gone. It’s petty.
I haven’t kept up with Priscilla over the years. When I would see a picture of her I noticed that staying young was a priority. To each their choice, you know? Lisa Marie sold 85% of the business–retaining the mansion and grounds, and getting a share of the new business–at the end of 2004. I can’t imagine there was much left for the Trustee to do other than maintain the real property.
I have no doubt that Priscilla earned an income for being Trustee, so she had been compensated for making the business what it was up until the end of 2004. I have no doubt that she will continue to earn an income for being an ‘advisor’. From my perspective not knowing much about her or Lisa Marie, I think she wanted the income to continue. In this deal with Riley, her income is assured.
Why do I have a feeling that if the ‘advisor’ has anything to say it will be said to Riley’s attorney in future?
Before you make final judgment on Priscilla and her motives please Google people magazine/ Lisa Marie Presley Sues her manager.
People magazine is to be trusted from what I’ve gathered from comments posted on other topics.
Lisa Marie was broke. She is suing the manager because since about 2006 she says he’s been mismanaging the money. She sued in 2018
It took her 12 years. No disrespect to her but I believe much like her father she didn’t do the business end of things and left that to others.
In her divorce with Lockwood she was ordered to pay $114,000 in legal fees and she didn’t have it. She claims that she’s broke. The deal where 85% of the Elvis Presley Enterprise sold. She claims the manager swindled her on that
I’m just saying that Lisa much like her father was just not good with the money. Priscilla turn this thing around for her again. I believe the reason Priscilla insisted on being one of the trustees was to make sure there was something left to leave for future generations. I’m not saying that was her only motive but truth be told Lisa was not good with the money and towards the end she wasn’t well. She had just enough to be able to take care of herself yet alone anything else.
A thought that came to mind to me was that when Priscilla Lockwood to Lisa’s funeral perhaps just perhaps it was so that they could be on good terms so he wouldn’t take the twins and cut them off from everybody.
Do I know this for a fact no. Just as we don’t know anything else really for a fact about this situation. I’m just saying I don’t think Priscilla is the bad guy here. I don’t really think there is a bad guy.
I think it’s a case of a young woman Lisa who just lost a handle on things.
Could there be bad intentions on Priscilla’s part of course. Do I jump to that conclusion immediately. I do not
I’ve dealt with strong addictions in my family and it’s not easy. Priscilla lost her mother, her grandson, and her daughter in a very short period of time and I believe she deserves some grace. Do we not always say on here that people grieve differently. That there’s no one way to grieve
Riley Lost just gave birth lost her great grandmother, mother and brother so please stop with the excuses. Priscilla is the bad guy for adding to Riley trauma over money.
Riley has been through so much in just a few months (some of which her grandmother dragged her through). She does seem like a level-headed person with good lawyers so I think Graceland is in great hands.