LOS ANGELES — The granddaughter of Elvis Presley, Riley Keough, has been named the sole trustee of the estate of her late mother, Lisa Marie Presley, and is the new owner of Graceland.
During a hearing Friday, Los Angeles Superior Court Judge Lynn Healey Scaduto approved Keough as the sole trustee over her mother’s estate, according to Deadline.
Lisa Marie Presley died at the age of 54 on Jan. 12 at a hospital in West Hills, California, after a cardiac episode, the Los Angeles Times reported. Hours after her hospitalization, Priscilla Presley’s publicist announced that Lisa Marie Presley had died. Her cause of death was identified as sequelae, which is a condition that comes from a pre-existing illness. A small bowel obstruction often happens because of scar tissue, a hernia, or cancer, CNN reported. If surgery doesn’t happen, the bowel tissue can die or perforate, which leads to death.
Keough, 34, will also be presiding over sub-trusts for her 14-year-old half-sisters, Finley and Harper Lockwood, People magazine reported. She will also own Elvis’ former estate, Graceland in Memphis, Tennessee. Elvis gifted the estate to his daughter when he died in 1977.
On June 12, Keough filed a 73-page petition with the court to approve an earlier settlement agreement she made between the Lockwoods and Priscilla Presley, People reported.
Priscilla Presley will be a special adviser to the trusts and will receive a monthly payment. According to Deadline, she will be allowed to be buried at Graceland.
Following Lisa Marie Presley’s death, her mother filed a petition to challenge the validity of her will, according to Deadline. It disputed a 2016 amendment that was made in Lisa Marie Presley’s will that “excised Priscilla as trustee of her estate.” Priscilla Presley and her attorneys claimed she only learned of the amendment following her daughter’s death.
Following Lisa Marie’s death, Priscilla sent a statement to E! News discussing her family as her priority.
“I loved Elvis very much as he loved me. Lisa is a result of our love,” Priscilla said, according to E! News. “For anyone to think anything differently would be a travesty of the family legacy and would be disrespectful of what Elvis left behind in his life.”
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