Riley Keough Officially Becomes Sole Trustee of Lisa Marie Presley's Estate
etonline.comRiley Keough won a bittersweet legal victory on Friday, when she was named the sole trustee of the estate of her late mother, Lisa Marie Presley.Things were made official when a judge signed off on Riley's June petition to approve the settlement agreement reached between her, her grandmother, Priscilla Presley, and Michael Lockwood, the Guardian Ad Litem for her two younger siblings.
The settlement terms, obtained by ET back in June, will see Riley serve as the sole trustee of her mother's estate and the sub-trusts for her sisters, 14-year-old twins Harper and Finley Lockwood.
For her part, Priscilla will serve as Trustee of the sub-trust for her son — Lisa Marie's half-brother, Navarone Garibaldi — who will be granted 1/9 of the Trust.
The remaining 8/9 of the Trust will be split among Lisa Marie's daughters — Riley, Finley and Harper.Additionally, Priscilla will receive a lump sum, one-time payment from the Trust for an undisclosed amount, and will now serve as a «Special Advisor to the Trust,» with Riley paying her an undisclosed monthly amount for the role.
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