After Benjamin’s passing in 2020, Riley became the only inheritor. In 2016, an amendment to her daughter’s will appointed Riley and her brother, Benjamin Keough, as the new co-trustees, replacing Priscilla and Lisa Marie’s previous business manager, Barry Siegel. This amendment was contested by Priscilla in February, just two weeks after Lisa Marie’s demise. However, the 33-year-old performer’s sorrow following her mother’s demise has been further burdened by the legal dispute between her and her grandmother, Priscilla Presley.
In February, an insider informed ET that Riley has been grieving the departure of her mother and is devastated to have to handle a disagreement over a trust with a relative. She is aware that her mother would never desire this and is saddened that this has evolved into a matter of public concern.
Continue reading for a summary of the couple’s relationship over the years and an examination of their current status.
LEGAL ISSUES
In 1977, at the time of Elvis’ passing, Lisa Marie was merely nine years of age. On her twenty-fifth birthday in 1993, Lisa Marie received the inheritance alongside Elvis’ father, Vernon Presley, and grandmother, Minnie Mae Presley, both of whom passed away prior.
In 1993, Lisa Marie was informed by people that she believed her mother had accomplished “an impressive task” of handling her finances, and they further remarked, “Everything remains unchanged, except for the fact that I am now part of the management team.”
Every year, approximately 650,000 tourists are drawn to the mansion, which has been designated as a National Historic Landmark. The worth of the property skyrocketed to more than $100 million, all thanks to Priscilla, who had served as a co-executor of Elvis’ will and was in charge of transforming Graceland into a lucrative destination for visitors. This was before Lisa Marie reached adulthood.
Riley and her sibling, Benjamin, were appointed as the fresh co-trustees, while Priscilla and Barry Siegel were dismissed as co-trustees in an alleged modification to her testament submitted by Lisa Marie in 2016, coinciding with her divorce from Michael. Lisa Marie terminated her marriage to her fourth spouse, Michael Lockwood, with whom she has her youngest offspring, 14-year-old twins Harper and Finley, and her association with Priscilla appears to have deteriorated during that period.
“For instance, Priscilla’s name is incorrectly spelled and the ‘alleged’ modification ‘was never given to [Priscilla] while Lisa Marie Presley was alive as mandated by the explicit terms of the Trust,’ following Lisa Marie’s demise, Priscilla submitted legal paperwork contesting the 2016 amendment merely a fortnight later.”
Priscilla also alleged that Lisa Marie’s signature on the amendment “seems to be incongruous with her typical and customary signature.”
After her passing, Lisa Marie had been “extremely, extremely certain and completely straightforward” regarding her desires for the estate, as stated by Joel Weinshanker, a Managing Partner at Elvis Presley Enterprises, while appearing on SiriusXM’s Elvis Radio.
He continued, “You can say that Elvis is really the only one who cares about money. It was never about money, she thought it was something in Elvis’ best interest. She couldn’t be pushed. Lisa couldn’t be bought.”
“From the very first day, she had always known and had a constant interest in being the director of an award-winning movie star, Riley. When Ben sat down with her, it was obvious that he would look at things exactly the same way they did, without any doubt in her mind that they would be the perfect stewards. Joel said with certainty that Ben and Riley were always there for Marie Lisa, who wanted to be in charge after her death.”
He continued, “We would always have hope, much sooner than it seems obvious.” “There is no question in anyone’s mind [because] Lisa had spoken about it, she had talked about it with many of her friends, and there are numerous amounts of written information about it. There was never a question, and nobody is certainly looking out for Riley, Lisa, or Elvis.”
The legal conflict surrounding the inheritance, following which an unidentified person made allegations against Priscilla, was subsequently revealed by Lisa Marie’s intention for Riley and Benjamin to receive the estate. This intention, which was not kept confidential, was confirmed by a source to ET.
I will always continue to forge a pathway of love, integrity, dignity, honesty, and respect for the legacy of Elvis, both for our fans and our family. Please ignore “the noise.” We need time to sort this out and work together. Please allow us the time. This person is not a representative of our family or Elvis. There is an individual who has bought their way into the family enterprise and is trying to speak on behalf of our family. It would be disrespectful to what Elvis left behind and a travesty to the legacy of our family if anything were to be done differently. For anyone who thinks otherwise, they should consider it as a result of our love. Lisa said in an early February statement, “It would be disrespectful to what Elvis left behind and a travesty to the legacy of our family if anything were to be done differently. For anyone who thinks otherwise, they should consider it as a result of our love. I loved Elvis as much as he loved me.”
Marie’s Lisa felt that Priscilla’s actress, at that time, was going against the wishes of her mom. ET told Riley, as a source.
The source stated, “Although she feels that her grandmother’s actions are pushing the family further apart, Lisa wants to keep Marie’s positive legacy alive and keep the family together in a light and positive manner.” “While they are not close at this time, Riley doesn’t want to upset her by wanting to have a relationship with Priscilla.”
Before her demise, the informant states that Lisa Marie had an unhealthy or distant bond with Priscilla in relation to herself, further mentioning that their dynamic was “extremely intricate.”
According to the source, Lisa Marie consistently sensed that Priscilla was attempting to exert influence over her. Lisa Marie faced challenges and this certainly created tension in her relationship with her mother.
The source from ET’s stated that Priscilla and Riley were not on good terms amidst their ongoing legal battle, which had been very tense and heartbreaking for the family for the past few weeks.
“They are both preparing for a legal battle, but Riley would rather resolve this conflict in a confidential manner,” the source disclosed, mentioning that while “Priscilla is firm in her belief that she has a strong argument and will succeed in court,” Riley is currently grieving the loss of her mother and is devastated to find herself entangled in a familial disagreement over a trust.
According to the source, Riley’s highly discussed Prime Video series, Daisy Jones & The Six, has been uplifting her spirits as both her daughter and husband have been supporting her. Currently, Riley is experiencing a lot of stress and is making an effort to maintain a positive mindset and optimism in anticipation of her upcoming series. She is deeply saddened that this situation has become public and is aware that her mother would never have desired such a turn of events.
Regarding the trust of her deceased daughter, the informant stated that the matriarch of the family was acting in accordance with her heartfelt convictions, particularly in regard to Priscilla.
“According to the source, she firmly believes that the ancient manuscripts were counterfeited.”
A spokesperson for Graceland dismissed the rumors that Priscilla had been barred from the iconic property in mid-March, stating that no locks at Graceland have been altered since Lisa Marie’s demise. The spokesperson emphasized that these reports are completely false.
Additionally, Priscilla’s guidance appears to be relevant to all her other grandchildren – nevertheless, the guidance appears to be particularly relevant when it comes to Lisa Marie’s twin daughters, Harper and Finley, who were only eight years old at the time. When asked about how she approaches the task of explaining her late ex-husband’s charismatic and influential personality to her grandchildren, Priscilla appeared. ET had the opportunity to interview Priscilla during the commemoration of the 40th anniversary of Elvis’ passing at Graceland in 2017, where both Priscilla and Lisa Marie were present.
She explained, “It naturally occurs. We don’t want to force anything.” We don’t force him, so we handle the situation cautiously and naturally, but they are in awe. They will ask him a question and they now know a few songs. That’s your grandaddy singing, they said when he came on the radio, of course.
He deserved all the critical acclaim and awards for his portrayal of Austin Butler as the music icon in the biopic, and his performance was praised by the Marie and Lisa, along with the Butler family. Last week, Priscilla and Riley made public appearances together, celebrating their agreement in the biopic.
I couldn’t think of a better place for the premiere of ELVIS in America than Graceland. Thank you, @baz Luhrmann, for bringing the film to this special weekend. All the performers, including @kelvharrjr, @olivia_dejonge, and @austinbutler, have done outstanding work. We’re thrilled to be in Memphis with @elvismovie. Riley shared a sweet photo on her Instagram, captioning it with her grandmother and mother.
FAMILY LIFE
“Publicist Paul Block mentioned that everyone is extremely joyful,” expressing that Priscilla, a new grandmother, was also overjoyed, in the birth declaration in The Los Angeles Times, where Riley was delivered in Santa Monica, California, on May 29, 1989, merely five days following her grandmother’s 54th birthday. He informed that “both mother and child are in superb condition.”
In 1977, Lisa Marie acquired Graceland, which became Elvis Presley’s only successor following his demise, and she resided in both L.A. And Graceland with her mother. During her childhood, Riley divided her time between her father in Hawaii and Los Angeles, and she resided with her father in both Hawaii and Los Angeles. Despite her parents’ separation when Riley was only five, her father, Danny Keough, and she remained dear friends.
From 1994-96, she was wedded to her mother, reminiscing that she “adored” Michael Jackson during her formative years. In a 2017 interview with The New York Times, Riley candidly discussed the prominent connections her mother had. However, one particular reminiscence that Riley cherishes is her unconventional upbringing.
She described her visit to Michael’s notorious residence, Neverland Ranch, saying, “Toys were scattered all around, animals were abundant, and children were present everywhere.” “It felt as if I was at Disneyland for the entire day.”
Riley described that relationship by saying, “My mom is a strong woman,” but it’s worth noting that Lisa Marie was also briefly wedded to Nicolas Cage from 2002-04.
MOVING FORWARD
She concluded, “You love everyone and we, Lisa, have our hearts broken.” After reading a brief statement and a poem, she spoke at Priscilla’s memorial at Graceland, where the majority of her remarks consisted of a poem written by one of her granddaughters, Marie.
Lisa Marie’s initial grandchild and Priscilla’s initial great-grandchild, an actress, had received a daughter. At the occasion, Ben Smith-Petersen, her spouse, presented a declaration on behalf of Riley, but refrained from addressing the public. Riley partook in the Graceland memorial of Lisa Marie.
“I am the result of your love, my sisters are also the result of your love, and my brother is as well,” Ben read aloud on behalf of his wife. “Thank you for instilling in me tenacity, wildness, temper, manners, sense of humor, courage, empathy, heart, and strength. I hope to love my sisters and brother the way you have loved me, and to be a daughter that you can be proud of.”
Before departing for the U.K., Priscilla Presley, during An Evening to Remember With Priscilla Presley, a fan Q&A event in the U.K., Informed the crowd that in April 2023, Priscilla briefly refuted rumors of a conflict with Riley.
“She exclaimed, ‘Everything’s fantastic!'” Jackie Howse, a devoted attendee of the event, disclosed to ET, relaying Priscilla’s statement: “‘You know, I had dinner with her prior to my arrival here.'”
“They were not genuine… It was extremely short, but she simply stated, ‘Do not trust what has been stated,'” Howse conveyed, concerning speculations of a supposed disagreement, Priscilla assured.
On Video Prime, the Six and Daisy Jones series is discussing the success of her granddaughter while getting emotional, and Priscilla Howse added, “I am also getting well along with Riley,” said Priscilla.
“How incredibly proud she was of her family,” Howse remarked. “It was evident in her expression, the immense pride she felt for her accomplishments. ‘I am genuinely proud of her. Truly proud,’ she explicitly stated. She exuded a strong sense of pride.”
REACHING AN AGREEMENT
On May 16, 2023, ET confirmed that Riley, Priscilla and Michael Lockwood had all come to an agreement regarding Lisa Marie’s estate.
Priscilla’s attorney, Ronson J. Shamoun, informed ET during that period, “All parties have come to an agreement and the families are content. “They are extremely thrilled about what lies ahead.”
Riley’s attorney, Justin Gold, concurred, telling ET, “Riley is extremely content. She is an extraordinary individual and her prospects are promising.”
Priscilla said in a statement to ET that any speculation of a rift between family members, which has been overblown by the media, has been had been overblown by the media following their agreement.
Priscilla stated that her family has resolved any confusion regarding their plea to the court and their request for document interpretation following the unfortunate death of her daughter Lisa Marie. She emphasized that there was never a lawsuit filed against her beloved granddaughter, despite some media incorrectly labeling the plea as such.
Family Presley, we appreciate and love you all stronger than ever. We hope that everyone will grant us the privacy we need to properly grieve and spend personal time together,” she added. “As a family, we are pleased that we have resolved this together.”
The settlement terms were revealed when Riley filed legal documents petitioning for Lockwood Finley and Harper, who are 14 years old, to become the sole trustee of Marie’s Lisa’s sub-trusts and estate on June 13, 2023.
According to the documents, Riley’s attorney asserts that she will act in a manner that aligns with the beneficiaries’ requirements, without being swayed by the Trustee’s wishes. In the legal paperwork, Riley’s lawyer, Justin Gold, explains that Riley will financially benefit by avoiding the trustee fee that would have been charged by Priscilla. Riley, on the other hand, will not levy any fees for her services as a trustee.
Between Riley, Finley, and Harper, the remaining majority of the trust will be divided. Navarone Garibaldi, Lisa Marie’s half-sibling, who will receive one-ninth of the trust, will act as the trustee of the sub-trust for her son – Priscilla, on her behalf.
Whether approved by the court or not, this modification becomes legally enforceable as soon as she affixed her signature to the settlement contract, according to the documents. On May 11, 2023, Priscilla was dismissed as the trustee of Lisa Marie’s estate. Furthermore, Priscilla will be given a single, undisclosed payment of an unspecified sum from the trust.
Riley was formally designated as the exclusive administrator of her mother’s property on August 4, 2023, and subsequently, a judge made a decision regarding the conditions of the arrangement.