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| LISA MARIE AND RILEY KEOUGH |
In a recent development regarding the estate of the late Lisa Marie Presley, it has been confirmed that her daughter, Riley Keough, has officially become the sole trustee of the million-dollar estate. This news comes after a settlement was reached between Keough and her grandmother, Priscilla Presley, in May, bringing an end to a legal battle that had captured public attention. Let's delve into the details of this settlement and what it means for the Presley family.
A New Trustee Takes Charge:
PEOPLE magazine has confirmed that Riley Keough, renowned actress and granddaughter of Elvis Presley, has successfully petitioned the court to become the sole trustee of her mother's estate. This move grants her the responsibility of managing and overseeing the assets and financial matters previously entrusted to Lisa Marie. Keough's lawyer, Justin Gold, highlighted the financial benefits to the beneficiaries and the avoidance of potentially detrimental family litigation through the settlement.
Investing in the Future:
In addition to assuming the role of trustee for her mother's estate, Riley Keough will also act as a trustee for her teenage twin sisters, Harper and Finley Lockwood. The court documents reveal that Keough will make investment decisions on behalf of her sisters, ensuring their financial interests are protected and nurtured for their future well-being.
Priscilla Presley's Role:
As part of the settlement agreement, Priscilla Presley, Lisa Marie's mother and former co-trustee, was removed from her position and will no longer have control over the estate. However, she will remain the trustee for her son, Navarone Garibaldi's sub-trust. The documents further indicate that Priscilla will receive a one-time lump sum payment, the details of which have not been disclosed.
The Legal Battle and its Resolution:
The legal dispute between Riley Keough and Priscilla Presley arose after Lisa Marie's passing, when Priscilla filed a petition questioning the validity of her daughter's will. The 2016 amendment to the will had removed Priscilla as co-trustee and appointed Riley Keough as the sole individual in charge. The settlement reached in May effectively resolved the differences between the parties, with Priscilla stepping aside and allowing Keough to assume control over her mother's estate.
A Stronger Family:
Earlier, Priscilla Presley had expressed that all the family's differences were resolved, emphasizing that their bond remained strong. While the legal battle undoubtedly caused strains within the family, the settlement and the subsequent appointment of Riley Keough as sole trustee signal a step towards unity and a collective focus on honoring Lisa Marie's wishes.
With Riley Keough officially becoming the sole trustee of her late mother's estate, the legal battle that unfolded within the Presley family has come to a close. As Keough takes on this significant responsibility, the focus now shifts towards managing and preserving Lisa Marie Presley's legacy. The resolution of the dispute brings hope for a harmonious future for the family, united in their efforts to honor and protect the assets and interests left behind by their beloved family member.
