After a lengthy legal discussion about who should inherit everything, Riley Keough, Lisa Marie Presley’s eldest living child, was finally named heir to her and her father’s estate.
Lisa Marie Presley, the only child of the King of Rock ‘N Roll, Elvis Presley, passed away in January of this year. She was the sole inheritor of his father’s wealth and Graceland estate. When she too, was gone, there came a debate on who should be the heir.
Priscilla Presley, her mother, came forward and contested for ownership of everything Lisa Marie left behind. It has been more than half a year since Priscilla made her intentions clear. However, the lengthy battle was finally resolved with the courts declaring Riley Keough the sole heir of the Presley wealth at the Los Angeles Superior Court last Friday, August 4.
This means she is now the owner of all of her mother’s wealth, properties, and even the Graceland estate of her grandfather. In addition to that, Keough was also named as the executor for the time being of the inheritance left to her twin siblings who are both 14 years old. The twins were named as sub-trustees for the fortune as well.
There were rumors that the case was settled internally in May, with Priscilla agreeing to a one-time lump sum payment of $1 million. Although there was no official word confirming this piece of gossip, Priscilla has since come forward about the issue.
Priscilla said, “Although some media identified such a plea as a lawsuit, I want to make clear that there was never any lawsuit filed against my beloved granddaughter. As a family, we are pleased that we resolved this together.”
Furthermore, sources close to the family confirmed that there is no bad blood between Priscilla and her granddaughter Riley. “Riley and Priscilla are at peace in their relationship after the very stressful ordeal over Lisa Marie’s trust and estate. There was a lot of back and forth, but they reached a middle ground that makes them both happy.”
Riley Keough is in the Entertainment Industry Herself
Riley Keough herself, is now in showbusiness, following her mother and grandfather’s footsteps. She has recently appeared in the musical drama “Daisy Jones and the Six” in its television adaptation of the bestselling book with the same title.
Keough welcomed her baby with her husband Ben Smith-Petersen last year. She is also set to appear in the television mini-series “Under the Bridge” which is currently in post-production. Although her past roles were mostly on the small screen, she is steadily paving her way in the entertainment industry just like her mother and grandfather.
She expressed how much she was influenced by her mother in a letter read by her husband during the late Lisa Marie’s memorial service at Graceland, “Thank you for showing me love is the only thing that matters in this life. I hope I can love my daughter the way you loved me, the way you loved my brother and my sisters. Thank you for giving me strength, my heart, my empathy, my courage, my sense of humor, my manners, my temper, my wildness, my tenacity. I’m a product of your heart, my sisters are a product of your heart, my brother is a product of your heart.”