Rily Keough will manage the assets of her late mother, Lisa Presley
After reaching an agreement with her grandmother Priscilla Presley about a month ago, Riley Keough, Lisa Marie Presley’s daughter, now has legal authority over her mother’s multimillion-dollar estate. According to documents acquired by the news outlet PEOPLE, Riley, 34, sought the court to authorise the settlement over the estate in documents filed in Los Angeles.
Riley’s attorney Justin Gold said in the filings, “The beneficiaries all save money that would have gone to Priscilla who was going to charge a trustee fee.” The parties are saving enormous legal costs by resolving the allegations in Priscilla’s Petition, and they are also avoiding the spectacle of intra-family litigation, which would have been against Lisa’s desires and not in her best interests.
Harper and Finley Lockwood, who are twins and are 14 years old, are now in Riley’s custody as well. According to Gold, Riley will invest the money “in a manner consistent with the needs of the beneficiaries, and not influenced by the desire of a Trustee.”
Priscilla, 78, allegedly lost her job as Lisa’s estate trustee on May 11. However, she will act as Trustee of the sub-trust for both her son Navarone Garibaldi and the late Lisa’s half-brother. Garibaldi will get one-ninth of the Trust, with Riley, Finley, and Harper receiving the remaining shares. Priscilla will get a lump sum payment for the trust all at once. The amount is still being withheld.
According to Priscilla’s legal counsel, after she and Riley came to a settlement in May, Priscilla said that the “Presley family is stronger than ever.” “They have reached a consensus. According to Priscilla’s lawyer Ronson Shamoun, families are satisfied. “Everyone is happy. unified, working together, and excited about the future. Riley wouldn’t have agreed to the transaction if she had been dissatisfied with it, Gold continued.
Lisa and Priscilla were seen together at a number of occasions, including as the Elvis movie premiere, although some accounts claim that they had not spoken before Lisa passed away. According to a source, Riley was always on her mother’s side when it came to Michael [Lockwood]. She was angry that Michael and her grandmother had travelled to Lisa Marie’s funeral.