Lisa Marie Presley’s Daughter Riley Keough Named Sole Trustee of Estate

Riley Keough has been named the sole trustee of her late mother Lisa Marie Presley’s estate, according to The Hollywood Reporter.

The Daisy Jones & The Six actress moved to approve the deal on Monday (June 12) in Los Angeles Superior Court, and her grandmother Priscilla Presley will be paid an undisclosed amount to drop her petition challenging a 2016 amendment to her late daughter’s will that replaced her as a co-trustee. She argued that the amendment was never delivered to her while her daughter was alive, as required by the trust’s terms.

Following the death of her father Elvis Presley and his parents, Lisa Marie became the sole inheritor to the King of Rock ‘n’ Roll’s estate, which was managed by Priscilla, who was married to Elvis from 1967 to 1973. When the trust was dissolved on Lisa Marie’s 25th birthday in 1993, she formed a new trust to continue the management of the estate with Priscilla Presley as co-trustee.

Lisa Marie died at age 54 on Jan. 12 after being hospitalized for suffering cardiac arrest. “It is with a heavy heart that I must share the devastating news that my beautiful daughter Lisa Marie has left us,” Priscilla said in a statement announcing the news. “She was the most passionate, strong and loving woman I have ever known.”