The funeral and memorial of Lisa Marie Presley was marred by the family’s internal bickerings on who should and shouldn’t execute her multi-million dollar estate.
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At the time of her death, the singer and actress had notably removed her mother Priscilla Presley as one of her trustees, making daughter Riley the sole trustee.
However, Priscilla refused to go down without a fight, and instead argued that Lisa Marie’s signature seemed forged.
She also pointed out that she wasn’t aware or present during the time she was removed as a trustee, so the new document shouldn’t be seen as legal. It took weeks, but the family was able to finally put their differences behind them to come to an agreement.
Riley Keough – Becomes Sole Trustee Following Agreement with Priscilla Presley
It’s been confirmed that Riley Keough, 34, is now the sole trustee of Lisa Marie’s estate a month after the “Daisy Jones and the Six” actress reached an agreement with her grandmother.
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On Monday, Riley petitioned the court to approve last month’s settlement agreement in documents filed in Los Angeles, per a report by Entertainment Tonight.
Riley’s lawyer, Justin Gold, notes that if the actress is approved as the sole trustee, she will not charge for her services, stating that “the beneficiaries all save money that would have gone to Priscilla who was going to charge a trustee fee.”
In the documents, Gold wrote: “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 also added that she will safeguard and invest the money “in a manner consistent with the needs of the beneficiaries, and not influenced by the desire of a Trustee.”
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Priscilla Presley is the trustee of the sub-trust of her son (and Lisa Marie’s half-brother) Navarone Garibaldi, who has been granted 1/9 of the Trust, per the documents. The rest will be split among Riley, Finley, and Harper, and Priscilla will also receive an undisclosed one-time, lump sum payment from the Trust.
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