Riley Keough has been officially appointed sole guardian of her late mother’s estate, Lisa Marie Presley, after a legal dispute that lasted for several months.
After the death of Lisa Marie Presley in January, questions arose as to who would control the estate of Elvis Presley’s daughter and Priscilla Presley’s daughter.
Now, nearly seven months after Priscilla Presley first asked a judge to determine the validity of Lisa Marie Presley’s will, the legal dispute has been resolved, with both the grandmother and granddaughter insisting they are on “good terms”.
In an August 23 interview with Hollywood ReporterPriscilla Presley acknowledged Keough as the estate’s “executor”, and said he “must be right”.
“Riley and I are on good terms,” ​​she said. “We were never on good terms. This was all publicity.”
earlier this month, Kyo defines their relationship With her grandmother in similar terms in an interview with Vanity Fair.
“Things will be happy with my grandmother,” said Qiu. “They were never happy.”
Here’s a timeline with everything you need to know about the legal dispute over Lisa Marie Presley’s trust:
What is the Promenade Trust?
The Promenade Trust essentially owns the entire estate of Elvis Presley. As her father’s sole heiress, Lisa Marie Presley established a living trust in 1993, which is a legal mechanism for protecting an individual’s assets and determining how they are distributed after his death. According to the American Bar Association.
Lisa Marie Presley was also the sole personal owner of Graceland Mansion in Memphis, Tennessee, according to the British Daily Mail. Graceland website.
According to court filings, the trust was “completely reconfigured” on January 27, 2010, with Priscilla Presley and Lisa Marie Presley’s former business manager, Barry Siegel, appointed as co-trustees.
Lisa Marie Presley sues Barry Siegel
In 2018, the singer-songwriter sued Sigel for negligence and mismanagement of her finances in a $100 million lawsuit. According to Reuters.
At the age of nine, Lisa Marie Presley left her father Elvis Presley’s heir after his death in 1977. In 1993, Siegel took over her finances when she received her inheritance.
By 2016, the fund had $14,000 in cash and more than $500,000 in credit card debt, Reuters reported based on her lawsuit.
At the time, Siegel filed an $800,000 lawsuit against Lisa Marie Presley, accusing her of squandering her inheritance over her lifestyle choices.
Death of Lisa Marie Presley
Lisa Marie Presley died on January 12th At the age of 54, after suffering a heart attack.
Earlier today, the Los Angeles County Fire Department and Lost Hills Police Deputies received a call regarding a woman who was not breathing near the 5900 Building on Normandy Drive in Calabasas.
NBC News reported that officials treated the woman at her home before taking her by ambulance to an area hospital.
Priscilla Presley asks to gain control of Lisa Marie’s confidence
Weeks after her daughter’s death.. Priscilla Presley asked the judge to confirm her will of the estate of Lisa Marie Presley and deemed the “alleged” modification of the trust invalid.
In a document dated March 11, 2016, “concerning a modification” of the fund, the rock ‘n’ roll icon’s ex-wife and Siegel were removed as co-trustees. Instead, they were replaced by two of Lisa Marie Presley’s sons, Riley Keough and Benjamin Keough, who He passed away in 2020 at the age of 27.
However, Priscilla Presley’s January filing alleged that “there are numerous issues surrounding the validity and validity of the alleged 2016 amendment.”
Riley Keough requests to be appointed sole guardian
In May, Priscilla Presley said The legal dispute over her daughter’s trust was settled out of court.
a month later, Keogh filed a petition To be appointed sole custodian of Lisa Marie Presley’s estate, with Priscilla Presley making a declaration of support the same day.
Priscilla Presley’s ad read in part: “My January 2023 petition has been misunderstood in the press as a ‘fight’ for my beloved daughter’s trust (The Promenade Trust).” That was not the intent. The petition was filed by a law firm and has since been terminated.
The settlement agreement designates the 78-year-old as trustee of her son’s 1/9 sub-fund Navarone Garibaldi Garcia, half-brother of Lisa Marie Presley Without any relation to Elvis Presley.
Keough and her 14-year-old twin sisters Harper and Finlay Lockwood will split the remainder of the fund, according to the filing. The documents also officially removed Priscilla Presley as trustee of her late daughter’s estate.
Riley Keough has been officially appointed sole guardian of her late mother’s estate
In August, the court granted Keough’s petition, making Lisa Marie Presley’s daughter sole guardian of her mother’s estate, according to documents obtained by NBC News.
What did Priscilla Presley and Riley Keough say about the feud?
In an August interview, Priscilla Presley explained that the process of determining the future of Lisa Marie Presley’s trust was a private matter for the family and “not something to play around with and say we don’t get along”.
She added that she and Kyo are on “good terms” and said she was meeting Kyo that night for dinner.
“We understand what needs to be done. I’m there for her. She knows it. She wants me there to help her,” said Priscilla Presley. Hollywood Reporter.
in Vanity Fair Article published on August 8, Kyo expressed similar sentiments When asked if things between her and her grandmother were “happy”.
Keough noted that “there was a little bit of turmoil” surrounding the legal battle, but said “everything will be as it was.”
“She’s a beautiful woman, and she was a huge part of creating the legacy of my grandfather and Graceland,” Keough said of Priscilla Presley. “He’s so important to her. He was the love of her life. Anything that might suggest otherwise in the press saddens me, because at the end of the day, all she wants is to love and protect Graceland, the Presley family, and the legacy.”
“This is her whole life,” she continued. “So it’s a huge responsibility that I’ve tried to take on. None of this stuff was part of our relationship before. It was just my grandmother.”
This article was originally published on TODAY.com