Subject: Re: Lisa Marie Presley's Estate Fri Mar 31, 2023 7:31 am
John Travolta Working To End Priscilla Presley & Riley Keough’s Feud Over Lisa Marie’s $35 Million Trust: Sources
John Travolta has been working privately behind the scenes to help heal Lisa Marie Presley’s family feud over her $35 million trust, RadarOnline.com has learned.
Sources close to the situation revealed that the Hollywood star, 69, is in talks with both Priscilla Presley and her granddaughter Riley Keough as they battle over the money left behind by Elvis’ only child.
As RadarOnline.com previously reported, 77-year-old Priscilla and 33-year-old Riley have become estranged as they fight for power.
Weeks after Lisa Marie’s death, Priscilla rushed to court demanding she is named co-trustee of her late daughter’s trust. She claimed Lisa Marie had appointed her and her ex-manager Barry Siegel as heads of the trust.
As we first reported, Lisa Marie died with $3-$4 million in debt but had life insurance policies totaling $35 million. The beneficiaries of Lisa Marie’s estate are Riley and her younger twins, Harper and Finley.
Priscilla demanded an alleged 2016 amendment to the trust not be enforced. The amendment removed Priscilla as co-trustee and placed Riley in full control.
Sources claim Riley has become upset with her “cruel” grandmother’s moves for power. Another insider said the actress is not pleased Priscilla has become close with Lisa Marie’s ex-husband Michael Lockwood, who is the father to the twins.
Sources claimed Travolta has been calling for a truce between Priscilla and Riley. “John has been a part of the family for going on 50 years and he wants to be a peacemaker,” said the insider.
“Lisa Marie’s death was tragic enough without having it tear the family apart!” the source added. After meeting Priscilla in 1975, John mentored her as she joined the Church of Scientology two years later – and the two were also briefly romantically linked, sources claimed.
Lisa Marie always considered the Grease icon part of the family — even after she left the controversial religion in 2012.
The insider said Travolta feels “like it’s his duty” to fix the family drama. “John has been on the phone with Riley, on the phone with Priscilla, not only talking about Lisa Marie, but what she would have wanted.”
“He knows things were frosty between Priscilla and Lisa Marie at the end, but he tells the surviving Presley women they need each other to get through these dark times,” said the source.
Subject: Re: Lisa Marie Presley's Estate Sun Apr 02, 2023 6:02 am
John Travolta has intentions to stop legal battle between Priscilla Presley and Riley Keough
As an Elvis Presley mega fan, John Travolta thinks he can stop the legal battle between his widow and his granddaughter
celebrity fans and he always tried to keep a close bond with his entire family after his death. When Lisa Marie Presley sadly passed away, she left behind an estate of roughly $35 million that her mother is currently fighting for against her daughter, Riley Keough. Priscilla Presley is alleging there was tampering with her daughter's signature of documents and this battle has already gotten quite nasty between both parts.
For John Travolta, watching his idol's family in the middle of this nasty legal bettle is heartbreaking and he decided to take matters into his own hands. According to Radar Online, the Hollywood actor made the decision to begin working privately to help heal the entire family as they go through this legal battle over Lisa Marie Presley's $35 million trust. He is reportedly in constant talks with both Priscilla Presley and Riley Keough in order to get them to cease all attacks against each other.
Can John Travolta help stop this PResley Family legal battle?
The issue here is money, to nobody's surprise. Priscilla Presley believes she is in the right just as much as Riley Keough and her siblings believe they have the truth about the case. Getting to them and making them feel empathetic for the other side won't be easy but John Travolta will do everything in his power to find a solution to this terrible conflict. Since Lisa Maria Presley passed away, both sides have been hurting tremendously as everybody surely misses her.
Even though Lisa Marie Presley passed away with around $4 million in debt, she did have an insurance policy that totaled those $35 million. In the estate's name area of beneficiaries, Lisa Marie included children Riley Keough and younger twins Harper and Finley. Priscilla Presley was left completely out of that document, which is why she decided to demand an alleged 2016 amendment to the trust not to be enforced. This amendment removed Priscilla as the co-trustee and placed Riley in full control.
Subject: Re: Lisa Marie Presley's Estate Thu Apr 13, 2023 4:49 am
Priscilla Presley gives rare update on million-dollar-legal battle with Riley Keough and where their relationship stands Priscilla and the Daisy Jones & the Six actress have been battling over Lisa Marie Presley's estate
Priscilla and the Daisy Jones & the Six actress have been battling over Lisa Marie Presley's estate
Priscilla Presley, amid months of an ongoing legal battle over her daughter Lisa Marie Presley's estate with her granddaughter Riley Keough, is maintaining that there is no rift within the family.
The two heirs to the Elvis Presley legacy and fortune have been marred with rumors of ill-will since Lisa Marie Presley's passing on January 12th, after Priscilla, days after her daughter's January 22 funeral, contested her daughter's decision to make the Daisy Jones & the Six star the sole trustee of her estate.
Now, while there has been no update on the legal front, the first and only wife of the King of Rock insists that everything is "fine" on the familial side of things.
Speaking at the Tyne Theatre and Opera House in Newcastle upon Tyne, she said her granddaughter was "great" and that there was no fight between them.
Additionally, she addressed rumors that she had been locked out of Graceland – she moved into the historic home when she was 18 after meeting Elvis when she was 14 – calling them "not true."
"We are just fine," she added of her family, which includes Lisa Marie's twin daughters with Michael Lockwood, Finley and Harper Lockwood.
The focus of Riley and Priscilla's legal battle has been an amendment the late singer made to her will in 2016 which made Riley, as opposed to Priscilla and her former business manager Barry Siegel, the sole trustee. Priscilla and Barry had been co-trustees since 2010, but in 2016, they were removed in favor of Riley and her late brother Benjamin Keough, who died by suicide at age 27 in 2020.
Being that Lisa Marie is the only daughter of Elvis, Graceland – which he bought in 1957 for $100,000 at age 22, and today generates millions of dollars per year in revenue – is at stake.
Also at risk is a 15 percent stake in Elvis Presley Enterprises, which since 2016 was meant to go to Riley. This contributes to the millions of dollars the Presley estate generates each year.
Since 2013, Authentic, formerly Authentic Brands Group, has owned the rights to Elvis, and though Lisa Marie remained owner of Graceland until her death, the deal called for new management of the property.
Subject: Re: Lisa Marie Presley's Estate Sun Apr 16, 2023 8:20 am
Locked and loaded! Lisa Marie Presley's ex-husband Michael Lockwood is appointed legal guardian of their twin daughters, 14, and takes control of their inheritance - taking a step closer to her millions
Lisa Marie Presley's ex-husband has been appointed the legal guardian of their twin daughters - a ruling that offers the widower a new opportunity get a chunk of the late star's millions he missed out on during their contentious 2021 divorce.
Along with granting the 61-year-old guitarist guardianship of Elvis' youngest granddaughters, the move allows Lockwood to represent the girls in an ongoing probate case over their mother's multi-million dollar trust.
The hotly-contested case has sparked a financial feud between the King's 77-year-old wife Priscilla Presley, and his grandchild Riley Keough - star of the hit Prime series, Daisy Jones and the Six.
Harper and Finley are both beneficiaries of Lisa Marie's trust, while their father was not. However, after today, the musician now has full reign over whatever their daughters inherit - at least until they turn 18.
Subject: Re: Lisa Marie Presley's Estate Sun Jun 11, 2023 5:37 am
Lisa Marie Presley’s Ex-Husband Locked Out Of Her $75 Million Fortune [You must be registered and logged in to see this link.] On Jun 6, 2023
There are new reports that say[You must be registered and logged in to see this link.]’s ex-husband, Michael Lockwood, has been locked out from getting anything from her $75 million fortune that she left behind after her death. In fact, he seems to be the odd man out in this family cash grab. Keep reading below for everything you need to know.
Lisa Marie Presley’s Ex-Husband Locked Out Of Her $75 Million Fortune
According to the latest edition of [You must be registered and logged in to see this link.], while both Lisa Marie’s daughter, Riley Keough, and her mother, Priscilla Presley, have managed to settle their differences over Elvis Presley’s estate, they also managed to squeeze out Michael Lockwood from seeing even a penny from his ex-wife’s estate.
To make matters worse, Michael is now worried that the family will try to shut him out completely by turning his daughters, Harper and Finley, from him, too.
One source close to the situation even put it this way, “Lisa Marie went to her death despising Michael and it’s no secret Riley considers it her duty to disenfranchise him. Now, he thinks she’s got Priscilla in her corner.”
The tipster went on to say that while the family was torn apart after Lisa Marie’s death left a bitter battle over her estate, if there’s one thing they all agree on, it’s that everyone needs to keep their distance from Michael, for better or for worse.
They are worried that Michael might try to put his hands on Lisa Marie’s money through the twins that they shared. And now it seems like Riley has taken matters into her own hands to make sure that never happens for the sake of her sisters and the entire family for that matter.
Subject: Re: Lisa Marie Presley's Estate Sun Jun 11, 2023 5:38 am
Riley Keough Is Worried For Her Sisters And Their Money
The insider said, “Riley is galled that Michael has access to the twins’ cash. Priscilla was the only ally Michael had, but Riley wants her to cut ties with him and may have bought her off. He has every right to worry about being left out in the cold.”
So far Michael Lockwood himself has not made any comments about the matter. Watch this space.
Subject: Re: Lisa Marie Presley's Estate Sun Jun 18, 2023 7:54 pm
Riley Keough to Pay Priscilla Presley $1 Million and $400K in Legal Fees to Settle Family Trust Suit The 'Daisy Jones & the Six' actress is the sole trustee of her late mother Lisa Marie Presley's estate By [You must be registered and logged in to see this link.]
Published on June 14, 2023 05:55PM EDT
As Riley Keough [You must be registered and logged in to see this link.] of her [You must be registered and logged in to see this link.]’s estate, she’ll give her grandmother Priscilla Presley a $1 million lump-sum payment as part of a previous settlement reached by the pair, court documents obtained by PEOPLE seem to indicate.
Riley, 34, and Priscilla, 78, [You must be registered and logged in to see this link.], with lawyers saying at the time that terms of the settlement would be kept confidential. And while nearly all mentions of the payment are redacted in court documents filed Monday in Los Angeles, one line deep into the 95-page filing indicates the hefty price tag.
The documents state that a $400,000 payment Riley is to give Priscilla for legal fees and costs will come "at the same time as the one million payment as stated in Paragraph 6 of this Agreement."
The aforementioned Paragraph 6 mentions a sum to be paid to Priscilla by Riley, though the amount — which "shall be made within 10 days after Riley’s receipt of the life insurance proceeds" — is redacted. The $1 million amount was first reported by [You must be registered and logged in to see this link.].
In return for Priscilla resigning, Riley is to issue the payment “after receiving the proceeds of her mother’s life-insurance policy,” per the docs. Riley on Monday petitioned the court to approve the May settlement agreement, with her attorney Justin Gold writing that if it’s approved, the Daisy Jones & the Six actress won’t charge for her services as a trustee, something he says Priscilla would have done.
Even so, the documents indicate that Priscilla was officially removed as Trustee of her late daughter’s estate on May 11, and that the change will remain in place whether Riley’s petition is approved or not, as Priscilla signed a settlement agreement. Reps for Priscilla and Riley had no comment. Legal counsel for Priscilla and Riley reached an agreement over Lisa Marie’s trust in May, and [You must be registered and logged in to see this link.] that the “Presley family is stronger than ever.”
"They have reached a settlement. Families are happy," Ronson Shamoun, Priscilla's lawyer, told reporters. "Everyone is happy. Unified and together and excited for the future."
Gold added, "[Riley] would not have agreed to the settlement if she was not happy with it."
Priscilla had [You must be registered and logged in to see this link.] questioning the “authenticity and validity” of a 2016 amendment to Lisa Marie’s trust that removed her as co-trustee and put Riley in charge.
The trust — which includes Elvis Presley’s beloved Graceland property and a 15 percent stake in Elvis Presley Enterprises (EPE) — had previously listed Priscilla and Lisa Marie’s former business manager Barry Siegel as co-trustees. [color:7cb6=rgba(0, 0, 0, 0.949019607843137)][You must be registered and logged in to see this link.]
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Subject: Re: Lisa Marie Presley's Estate Sun Jun 18, 2023 7:59 pm
Priscilla Presley Feels 'Elvis Would Be Proud' of Settlement: 'His and Lisa's Wishes Are What Are Most Important' Priscilla Presley filed a declaration Wednesday that also praised granddaughter Riley Keough, with whom she reached a settlement agreement last month By [You must be registered and logged in to see this link.]
Published on June 15, 2023 01:20PM EDT
[You must be registered and logged in to see this link.] feels her [You must be registered and logged in to see this link.] and their late daughter would be happy with how she's found peace with granddaughter [You must be registered and logged in to see this link.].
In a declaration filed Wednesday in Los Angeles and obtained by PEOPLE, Priscilla, 78, expressed her happiness with the [You must be registered and logged in to see this link.] she and Keough, 34, came to last month over the estate of Lisa Marie Presley, who [You must be registered and logged in to see this link.].
"My daughter's passing was both devastating and heartbreaking," she wrote. "We have learned that the fans realize that we are 'Just a Family.' Elvis would be proud and his and Lisa's wishes are what are most important to all of us."
The Agent Elvis actress continued: "My granddaughter, through her counsel, along with my team worked diligently and tirelessly to resolve all misunderstandings as a family."
Lisa Marie was the only child of rock legend Elvis Presley, to whom Priscilla was married from 1967 to 1973. She shared daughter Riley with [You must be registered and logged in to see this link.].
Priscilla filed the declaration in support of a motion that would seal the petition Riley previously filed to approve the pair's settlement agreement. Priscilla wrote that the petition she'd filed in January as a means of staying on board as the co-trustee of Lisa Marie's estate was "misconstrued" as “a 'fight' over my beloved daughter's trust." The actress added that that was not her intent, and that she has since fired the law firm that filed the petition. She said her goal in filing her declaration was to "resolve all potential uncertainty" surrounding the interpretation of the Trust. After reaching a settlement agreement in May with her grandmother, Riley petitioned the court on Monday to approve it.
"Everyone is happy. Unified and together and excited for the future," Priscilla's lawyer Ronson Shamoun, said in May. Added Keough's attorney, Justin Gold: "[Riley] would not have agreed to the settlement if she was not happy with it."
Regardless of whether the petition is approved, Priscilla's removal as Trustee of Lisa Marie’s estate will remain in place, as she signed a settlement agreement.
Though lawyers for both Riley and Priscilla had made efforts to keep the terms of the settlement confidential, court documents obtained by PEOPLE seem to indicate that Riley will give her grandmother a [You must be registered and logged in to see this link.].
While nearly all mentions of the payment are redacted, one line buried deep into the 95-page filing indicates the hefty price tag.
The documents state that a $400,000 payment Riley is to give Priscilla for legal fees and costs will come "at the same time as the one million payment as stated in Paragraph 6 of this Agreement."
The aforementioned Paragraph 6 mentions a sum to be paid to Priscilla by Riley, though the amount — which "shall be made within 10 days after Riley’s receipt of the life insurance proceeds" — is redacted.
Subject: Re: Lisa Marie Presley's Estate Sun Jun 18, 2023 8:05 pm
Riley Keough Becomes Sole Trustee of Lisa Marie Presley's Estate After Agreement with Priscilla Presley The 'Daisy Jones & the Six' actress and her grandmother came to an agreement last month
One month after [You must be registered and logged in to see this link.] and grandmother [You must be registered and logged in to see this link.][You must be registered and logged in to see this link.] over the late Lisa Marie Presley’s estate, the Daisy Jones & the Six star has become its sole trustee, PEOPLE confirms.
Riley, 34, petitioned the court to approve last month’s settlement agreement in documents filed Monday in Los Angeles and obtained by PEOPLE. [You must be registered and logged in to see this link.] was first to report the news.
The actress's lawyer Justin Gold writes that if the court approves the petition that Riley will not charge for her services as a trustee; therefore, “the beneficiaries all save money that would have gone to Priscilla who was going to charge a trustee fee."
In the documents, Gold adds: "In settling the claims pending in Priscilla's Petition, the parties are saving significant legal fees by avoiding litigation, and they are likewise avoiding the spectacle of intra-family litigation that would have been inimical to Lisa's wishes and not in the best interests of the family."
Riley — who will be the sole trustee of her mother’s estate and of the sub-trusts for her 14-year-old twin sisters [You must be registered and logged in to see this link.] — will also safeguard and invest the money “in a manner consistent with the needs of the beneficiaries, and not influenced by the desire of a Trustee,” according to Gold.
Priscilla, meanwhile, will be Trustee of the sub-trust of her son (and Lisa Marie’s half-brother) [You must be registered and logged in to see this link.], who will be granted 1/9 of the Trust, the documents reportedly state. The rest will be split among Riley, Finley and Harper, and Priscilla will also receive a one-time, lump sum payment from the Trust for an undisclosed amount.
Subject: Re: Lisa Marie Presley's Estate Sun Jun 18, 2023 8:13 pm
KED TO BE BURIED NEXT TO ELVISDuring Negotiations Over Lisa Marie's Trust
Priscilla Presley may have settled her dispute over Lisa Marie's trust for millions of dollars, but she lost out on one of her big asks ... being buried next to "The King" -- this according to sources with direct knowledge.
Our sources say ... while Priscilla and her granddaughter, Riley Keough, battled over Lisa Marie's trust ... Priscilla wanted something other than money ... a burial spot next to her ex-husband, Elvis Presley.
Elvis is buried at Graceland, his legendary Memphis estate, flanked by the gravesites of his mother and father. Thus the issue ... if Priscilla were to be buried next to Elvis, who moves?
We're told Priscilla's request was a non-starter, and she backed down without much discussion.
While Priscilla may not know her final resting place, she still walked away with an impressive settlement. We're told she will get millions in return for dropping her claims over who controls Lisa's trust, which includes the Graceland mansion and a stake in Elvis Presley Enterprises.
Priscilla tells TMZ ... "Although I don't plan on going anywhere anytime soon. It is my family's and my wish for me to be laid to rest with my daughter and the love of my life when that time comes. We appreciate the love from all of the fans."
Subject: Re: Lisa Marie Presley's Estate Sun Jun 18, 2023 8:20 pm
EXCLUSIVE: 'He is the ultimate peacemaker.' Elvis Presley's dearest friend and Lisa Marie's godfather Jerry Schilling - who officiated at Riley Keough's wedding - is the family 'rock' who helped broker Priscilla's trust settlement with her granddaughter
Elvis Presley's dear friend and mentor Jerry Schilling played a 'key' role in brokering the settlement between Priscilla Presley and Riley Keough in their bitter feud over Lisa Marie's multimillion-dollar estate, DailyMail.com has learned.
The King of Rock and Roll's ex-wife and her granddaughter finally reached an agreement over the late singer's trust on Tuesday - four months after she suffered a fatal cardiac arrest.
But according to a Las Vegas source close to the family, it was largely thanks to talent manager Jerry Schilling, 81 - who officiated Keough's wedding in 2015, spoke at Lisa Marie's memorial and stayed with Priscilla and Elvis at Graceland during her pregnancy - after he helped ease tensions behind the scenes. 'Schilling is the ultimate peacemaker, the source told DailyMail.com. He has been a 'rock' and 'key part' of the Presley family for nearly 70 years, was a godfather to Lisa Marie and is referred to by Keough as "Uncle Jerry",' the source told DailyMail.com.
Subject: Re: Lisa Marie Presley's Estate Thu Jul 27, 2023 5:55 am
Lisa Marie Presley’s Twin Daughters Lawyer Up In Battle for Elvis’ Money
The battle over the estate of Lisa Marie Presley is far from over, as two of the late star’s daughters retained lawyers to ensure they are getting a fair share of the Elvis Presley fortune.
In the new legal filing, obtained exclusively by The Blast, 14-year-old twins Harper and Finley Lockwood are requesting a guardian ad litem in Lisa Marie’s trust case that their sister Riley Keough filed back in June.
The twins want their legal protection because they are minors, and there remains a dispute over the distribution of the massive Presley estate. Basically, they want to ensure they get paid everything they are entitled to while the remaining family members all carve out their pieces.
Vivienne Ann Lockwood will apply ex parte to the Court for the appointment of a Guardian ad litem to represent her interest in this proceeding. In contrast, Finley Aaron Love Lockwood will apply ex parte to the Court for the appointment of a Guardian ad litem to represent her interests. Both twins are beneficiaries of the Trust.
In June 2023, Riley Keough, 34, and her grandmother, Priscilla Presley, 78, finally reached an agreement over the late Lisa Marie Presley’s estate. The “Daisy Jones & the Six” star became the sole Trustee. The 34-year-old had petitioned the court to approve May 2023’s settlement agreement in documents filed in Los Angeles.
Her lawyer, Justin Gold, had written that Riley would not charge for her services as Trustee if the court approved the petition. Gold wrote that “the beneficiaries all save money that would have gone to Priscilla, who was going to charge a trustee fee” in court documents obtained by The Blast.
“In settling the claims pending in Priscilla’s Petition, the parties are saving significant legal fees by avoiding litigation, and they are likewise avoiding the spectacle of intra-family litigation that would have been inimical to Lisa’s wishes and not in the best interests of the family,” Gold added in the legal filing.
Riley was named the sole Trustee of her mother’s estate and the sub-trusts for her 14-year-old twin sisters, Harper and Finley Lockwood. She is now charged with safeguarding and investing the money “in a manner consistent with the needs of the beneficiaries, and not influenced by the desire of a Trustee.”
Priscilla was named as the Trustt of the sub-trust of her son and Lisa Marie’s half-brother, Navarone Garibaldi, who has been granted one-ninth of the Trust, according to the court filing. The rest will be split among Riley, Finley, and Harper. Priscilla will receive a one-time, lump sum payment from the Trust for an undisclosed amount. According to the court documents, Priscilla, 78, was removed as the Trustee from her daughter’s estate on May 11.
Subject: Re: Lisa Marie Presley's Estate Sat Aug 05, 2023 4:28 am
Elvis Presley’s Granddaughter Officially Becomes Sole Trustee Of Lisa Marie’s Estate
Elvis Presley’s granddaughter Riley Keough has officially become the sole trustee of Lisa Marie Presley‘s estate.
According to court documents obtained by The Blast, on August 4, a judge in the Superior Court of California, in the county of Los Angeles, signed off on the documents making Riley the sole trustee of Lisa Marie Presley’s estate.
On June 12, 2023, Riley Keough filed to become the sole trustee of Lisa Marie Presley’s estate. The judge determined on August that the decision was in the best interest of the Trust and approved the measure. The judge also noted that the settlement was in the best interest of the twins, Harper and Finley Lockwood.
The judge also noted that Michael Lockwood, who is serving as Guardian Ad Litem, is acting in the twins’ best interests and that his signature is both valid and binding. As such, Riley Keough is now the sole Trustee of the Promenade Trust, which is not a surprise to many who have been following the news.
As previously reported by The Blast, Riley said that she would not charge any fees for her services as the trustee, which saved money that would have been allocated to her mother, Priscilla Presley. As part of the settlement, Riley will also own Graceland. Priscilla, when she passes away, will be buried at the Meditation Garden on the Graceland property, close to where the King of Rock and Roll himself has been buried.
In court documents obtained by The Blast, the “Good Doctor” actress first petitioned the court to approve the settlement between herself, grandmother Priscilla Presley, and Michael Lockwood, who is acting as Guardian Ad Litem for the two minor Lockwood twins, in early June. As per the settlement, Riley will be the sole trustee for her estate and the sub-trusts set up for the 14-year-old Lockwood twins.
Subject: Re: Lisa Marie Presley's Estate Sat Nov 04, 2023 8:47 am
Judge Approves Riley Keough and Priscilla Presley's Settlement, Confirming Priscilla's $1M Payment and Burial Near Elvis New, unredacted documents also reveal that Priscilla Presley will receive a $100,000 annual payment [color:9159=rgba(0, 0, 0, 0.949019607843137)][You must be registered and logged in to see this link.]
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Subject: Re: Lisa Marie Presley's Estate Wed Dec 27, 2023 3:27 am
Riley Keough Gets $7.5M From Lisa Marie Trust, Pays Priscilla $2.35M to be Sole Trustee of Estate: Settlement
By Chris Spargo
First Published: 11:05 AM PST, November 20, 2023
Lisa Marie's oldest daughter Riley Keough is one of the four beneficiaries set to inherit part of her mother's $25 million life insurance policy, according to legal filings obtained by Inside Edition Digital.
The court battle over who will control the estate of Lisa Marie Presley is officially over.
Riley Keough is now the sole trustee of her mother’s estate after a Los Angeles County judge approved the settlement agreement between her and grandmother Priscilla Presley earlier this month.
Lisa Marie's oldest daughter Riley Keough is one of the four beneficiaries set to inherit part of her mother's $25 million life insurance policy, according to legal filings obtained by Inside Edition Digital.
The court battle over who will control the estate of Lisa Marie Presley is officially over.
Just who would control the estate became uncertain for a brief period earlier this year when Priscilla filed a petition just a few weeks after her daughter’s death questioning the legitimacy of a 2016 amendment to one of Lisa Marie’s trusts that removed her as trustee.
That trust is The Promenade Trust, and it represents the last vestiges of the Elvis Presley estate controlled in full or in part by his family.
This includes Graceland mansion, all of Elvis’ personal effects contained in the Graceland archive, and a 15 percent share in Elvis Presley Enterprises Inc.. The family had complete ownership of Elvis Enterprises until 2005, when Lisa Marie agreed to sell an 85 percent share for $97 million in cash, debt relief, and stock.
Lisa Marie's oldest daughter is also one of the four beneficiaries set to inherit part of her mother's $25 million life insurance policy according to legal filings related to the settlement agreement obtained by Inside Edition Digital.
Just who would control the estate became uncertain for a brief period earlier this year when Priscilla filed a petition just a few weeks after her daughter’s death questioning the legitimacy of a 2016 amendment to one of Lisa Marie’s trusts that removed her as trustee.
That trust is The Promenade Trust, and it represents the last vestiges of the Elvis Presley estate controlled in full or in part by his family.
This includes Graceland mansion, all of Elvis’ personal effects contained in the Graceland archive, and a 15 percent share in Elvis Presley Enterprises Inc.. The family had complete ownership of Elvis Enterprises until 2005, when Lisa Marie agreed to sell an 85 percent share for $97 million in cash, debt relief, and stock.
The remaining share, the famed mansion, and Elvis' effects will now be controlled by Riley, with Priscilla agreeing to both step down as trustee and withdraw her petition in exchange for payments totaling at least $2.35 million over the next 10 years, according to the settlement agreement. The approved settlement agreement states that these payments include:
$50,000 paid by Riley in May for “Priscilla’s immediate resignation” as trustee
$1 million to be paid from “off the top of Lisa Marie’s irrevocable trust and be borne by all beneficiaries of Lisa Marie’s irrevocable trust in proportion to their respective interests”
$300,000 “for legal fees and costs relating to the petition” to be paid by Riley, or as much as $400,000 provided an “accounting with receipts totaling said additional sums”
$100,000 “per annum, payable in monthly installments, for her role as Special Adviser to the trust” with duties to be determined by Riley and to be paid by Riley as trustee of The Promenade Trust “for a guaranteed term of 10 years”
In addition, the approved settlement agreement filed in Los Angeles County Court states that “Riley agrees to allow Priscilla to be buried upon her death in the Meditation Garden of Graceland. The burial location will be at the location closest to Elvis Presley without moving any existing gravesite.”
Riley also agrees to “assist Priscilla in retrieving all of Priscilla’s personal belongings whether owned by her individually or jointly owned with another person or entity, that remain at Graceland,” according to the settlement agreement.
The settlement agreement also includes Lisa Marie’s irrevocable trust in full, which she signed in 1993 at the same time she created The Promenade Trust.
Her irrevocable trust will be equally distributed in nine parts, with one part going to her half-brother Navarone Garcia, and Lisa Maria’s three daughters - Riley, Harper, and Finley - each receiving an equal share of the remaining 8/9 of the estate.
That means Garcia is set to receive $2.78 million, of which $111,111 will be taken and put towards Priscilla’s $1 million payment.
The three girls will each receive $7.41 million, of which $296,296 will be taken and put towards Priscilla’s $1 million payment. In addition the three girls will each receive an equal share of the Elvis assets owned by the family as detailed in The Promenade Trust.
Only Garcia will actually be able to access his full share of the irrevocable trust at this time however under the guidelines set by Lisa Marie.
The trust she signed in 1993 states that her beneficiaries may access a third of their inheritance at the age of 30, half by the age of 35, and their full distribution from the estate at the age of 40.
As such, Riley, 34, only has access to a third of her funds until next May, while sisters Harper and Finley will not be able to access their trusts for another 15 years.
Riley will serve as the trustee for both of her sisters’ trusts while their father Michael Lockwood will continue to serve as guardian ad litem for the two girls.
Riley is also required to “not make any mandatory distribution of income or principal directly related to a Beneficiary, so long as Trustee reasonably believes or suspects that the Beneficiary is dependent upon or addicted to illegal drugs, any controlled substances, or alcohol,” as per a special provision included in Lisa Marie’s irrevocable trust.
Lastly, Riley will step down as trustee of Garcia’s trust and hand over the reins to celebrity attorney Marty Singer according to an amendment to the settlement agreement filed just days before the judge signed off on the court filing.
Riley steps into her new role after spending the last two decades achieving great success on her own merits. She is an Emmy-and Golden Globe-nominated actress thanks to her critically acclaimed work on the television series “Daisy Jones and the Six” and “The Girlfriend Experience” and had early success at the box office thanks to featured roles in films such as “Mad Max: Fury Road” and “Magic Mike.” As a producer, Riley joined an elite group that includes Jim Jarmusch, Mira Nair and Steve McQueen when she picked up the prestigious Caméra d'Or for her film “War Pony” at the 2022 Cannes Film Festival.
Subject: Re: Lisa Marie Presley's Estate Sat Feb 10, 2024 8:22 am
Riley Keough was spotted out in Los Angeles for the first time after making headlines about deciding not to pay off her late mother Lisa-Marie Presley's $1.6M loan
Subject: Re: Lisa Marie Presley's Estate Sat Feb 10, 2024 8:24 am
Keough's mother - the late Lisa-Marie Presley, the only child of Elvis Presley - bought Coes Hall,[You must be registered and logged in to see this link.].
She purchased the property with a loan from Barclay's Bank - and now the financial institution is allegedly claiming Presley had an outstanding balance of $1.6 million with them for the estate, according to a legal filing made by Keough, [You must be registered and logged in to see this link.] reports.
Barclay's allegedly claims Presley personally guaranteed payment at the time she received the loan, and they are now looking at her trust to fulfill the personal guarantee. Keough, who was named sole trustee of her mother's estate following her death last year, has now asked a judge to declare that the trust is not responsible for the payment in a new legal filing submitted by her.
In the filing, she claims there are several reasons why the trust is not obligated to pay the loan, perhaps the most important of which is the statute of limitations has expired.
The bank had until January 12, 2024 - the one year anniversary of Presley's death - to file any sort of claim - which they allegedly failed to do.
Keough also alleges her late mother only promised interest payments on the loan from 2010 to 2015. Therefore, the trust is not responsible for the outstanding principal, according to the filing. The judge has yet to make a decision on the matter.
Presley purchased the 11-bedroom manor with her then-husband Michael Lockwood in 2010 before she finally sold it off in 2021 for £3.35 million. Presley, the daughter of rock legend Elvis Presley and Priscilla Presley, died back in January 2023 after suffering cardiac arrest at her Calabasas, California home.
It was later found that she died from a 'small bowel obstruction' caused by a bariatric surgery that she had undergone according to the autopsy.
In August, Riley was named the sole trustee of her mother's estate and owner of Graceland following a legal battle with her grandmother Priscilla Presley. A judge approved the settlement in November.
The approval confirmed that Priscilla would be receiving a $1million lump-sum payment, funded by Lisa Marie's life insurance policy, as part of the settlement, according to documents obtained by [You must be registered and logged in to see this link.].
Subject: Re: Lisa Marie Presley's Estate Wed Mar 20, 2024 6:54 am
All Shook Up: Lisa Marie Presley’s Ex-Husband Demands Her Daughter Riley Cough Up Six Figure Sum Over Bills For Elvis' Granddaughters
Lisa Marie Presley’s ex-husband Michael Lockwood asked a court to order her daughter Riley Keough to pay him $153k to cover his legal bills related to Elvis' granddaughters.
According to court documents obtained by RadarOnline.com, Lockwood, who was married to Presley from 2006 to 2021, was named Guardian Ad Litem for the two daughters he had with Elvis’ only child after her death in January 2023. He was also awarded primary custody of the girls.
Lockwood and Presley had twins — Harper and Finley. Presley’s only child was her oldest daughter Keough who was named administrator of her late mom’s estate, The Promenade Trust.
In his petition, Lockwood said, “After Lisa Marie’s death, the Promenade Trust was the subject of litigation, primarily focused on who should be the trustee. To protect and represent their interests in this litigation, Finley and Harper sought and secured the court appointment of their father, Michael Lockwood, to serve as their Guardian Ad Litem."
He added, "Through the significant efforts and contributions of the parties, including Mr. Lockwood and his counsel, all disputes surrounding Lisa Marie’s estate were amicably and efficiently resolved, and that settlement was approved by this Court on August 4, 2023.”
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