Global Courant
Riley Keough asks the court to approve a previously announced settlement about the estate of her late mother Lisa Marie Presley.
Keough’s attorney, Justin Gold, filed legal papers in Los Angeles on Monday, nearly a month after a settlement was reached in the case between Keough, her grandmother. Priscilla Presley and Michael Lockwood, Lisa Marie Presley’s ex-husband who serves as Guardian Ad Litem to their 14-year-old twin daughters Finley and Harper.
According to court documents Monday, Keough is petitioning the court to approve the agreement, which sees her acting as sole trustee of her late mother’s trust and the subtrusts for her younger sisters.
The documents state that Keough will not charge for her services as a trustee of her late mother’s trust, which will “save money that would have gone to Priscilla, who would charge a trustee fee.”
Priscilla Presley, who signed the agreement last month, resigned as administrator of her late daughter’s estate – a move that is binding whether or not this agreement is approved by the court. She will receive an undisclosed, one-time payment from the trust and will serve as a “special adviser” to the trust going forward, with Keough paying her an undisclosed monthly fee for her new, “non-fiduciary” role.
Priscilla Presley will also serve as trustee of her son Navarone Garibaldi’s subtrust. Garibaldi, Lisa Marie Presley’s half-brother, would receive 1/9 of the trust.
Keough and her sisters would split the remaining 8/9 of their mother’s trust.
Harper Vivienne Ann Lockwood, Lisa Marie Presley, Priscilla Presley, Riley Keough and Finley Aaron Love Lockwood attend the handprint ceremony honoring Three Generations of Presley’s at the TCL Chinese Theater on June 21, 2022 in Hollywood, California.
Axelle/Bauer-Griffin/FilmMagic via Getty Images, FILE
In addition, the documents note that the trust’s funds “shall be protected and invested in a manner consistent with the needs of the beneficiaries, and unaffected by the wishes of any trustee.”
Under the agreement, Keough would become the owner of Graceland and agree to let Priscilla Presley obtain all of her personal belongings from the Memphis estate or the storage units it manages. Keough will also, “to the extent of her authority”, allow Priscilla Presley to be buried in the Meditation Garden at Graceland and hold a memorial service on the grounds, with her burial being “at the location closest to Elvis Presley without any displacement.” existing grave.”
Lisa Marie Presley, the only child of music legend Elvis Presley, died January 12 at the age of 54. She was buried in Graceland’s Meditation Garden on January 19 and a Memorial service was held at the estate on January 22.
At the time of the agreement last month, Priscilla Presley’s attorney, Ronson Shamoun, told reporters out of court on May 16 that the “families are happy” and that “everyone is happy and united and together and excited for the future.”
Priscilla Presley had previously disputed what she typified an “alleged 2016 amendment” to the trust of her deceased daughter earlier this year.
The court is expected to approve the settlement at the next hearing.
“Good Morning America” has reached out to Priscilla Presley for comment. A Keough representative declined to comment.
