Shocking Verdict: Lisa Marie Presley's Fortune and Graceland's Ownership Handed Over to Riley Keough After Intense Legal Battle

Riley Keough and Lisa Marie Presley. Steve Cohn/Shutterstock

Riley Keough, the 33-year-old actress known for her role in "Daisy Jones and the Six," has been named as the sole trustee of her late mother Lisa Marie Presley's estate, according to multiple reports. This decision was approved by Los Angeles Superior Court Judge Lynn Healey Scaduto on August 4th. Along with this appointment, Keough will also oversee the sub-trusts for her twin sisters, Harper and Finley, whom Lisa Marie shared with ex-husband Danny Keough. Additionally, Keough will continue to have sole ownership of her grandfather Elvis Presley's Graceland estate, which Lisa Marie inherited after his passing in 1977.

Lisa Marie, who was also the mother of Benjamin, who tragically died by suicide in July 2020, passed away in January at the age of 54 after suffering from cardiac arrest. Following an emotional memorial service at Graceland, Lisa Marie's mother, Priscilla Presley, disputed her daughter's will. Priscilla, who shares Lisa Marie with ex-husband Elvis, claimed that a 2016 amendment that removed her as the trustee and replaced her with Riley and Benjamin was fraudulent. The former "Dallas" actress alleged that the new documents lacked witnesses and notarization.

Although Riley did not publicly comment on the legal battle or Priscilla's accusations, it was confirmed in May that they reached a settlement. The two parties agreed to appoint Riley as the sole trustee of Lisa Marie's estate, with the twins serving as sub-trustees. As per the terms, Priscilla would receive a one-time lump sum payment of $1 million from the account.

According to an exclusive source, Riley and Priscilla have found peace in their relationship following the highly stressful experience involving Lisa Marie's trust and estate. After much negotiation, they were able to reach a satisfying compromise that left them both happy.

In response to the settlement, Priscilla issued a statement clarifying the situation. She shared that her family has resolved any confusion regarding their plea to the court and their request for document interpretation following Lisa Marie's untimely passing. Priscilla emphasized that the plea was never intended as a lawsuit against their beloved granddaughter. As a united family, they are content with the resolution they reached.

In June, one month after Priscilla and Riley's daughter was born, the couple gathered to celebrate Harper and Finley’s graduation from middle school. Priscilla expressed her joy on Instagram, sharing a photo of the four of them and exclaiming, "Happy Graduation girls! You're now in high school!!! ️️."