Riley Keough is requesting that the Los Angeles County Superior Court appoint her as the sole trustee of the trust left to her by the late Lisa Marie Presley.
According to court records obtained by NBC News, Keough’s 34-year-old attorneys petitioned the Los Angeles County Superior Court on June 12 to approve the settlement deal reached with her grandmother Priscilla Presley, 78, and other family members earlier that month.
The agreement names Lisa Marie Presley’s late brother Navarone Garibaldi Garcia, who is unrelated to Elvis Presley, as the trustee of the 1/9 sub-trust on behalf of Priscilla Presley.
Keough and her twin sisters, Harper and Finley Lockwood, also 14 years old, will each receive a portion of the remaining trust.
Keough will also take over as the trustee of the sub-trusts for Harper and Finley as soon as the court approves the arrangement. Keough won’t be paid for his trustee duties, according to Justin Gold, the actor’s attorney, who also said that “the beneficiaries all save money that would have gone to Priscilla, who was going to charge a trustee fee.”
The money given to Keough through the trust, according to Gold, “will be safeguarded and invested in a manner consistent with the needs of the beneficiaries, and not influenced by the desires of a trustee.”
The filings show that Keough also filed the petition to make sure that anyone working with the trust or estate on behalf of a third party is aware of the trustee’s identity.
Gold wrote in the petition, “By settling the claims pending in Priscilla’s Petition, the parties are saving significant legal costs by avoiding litigation, and they are also avoiding the spectacle of intra-family litigation that would have been contrary to Lisa’s wishes and not in the best interests of the family.
According to the records, Priscilla Presley was formally removed from her position as executrix of the estate of her late daughter Lisa Marie Presley, who passed away on January 12, 2023.
Priscilla Presley requested a court to declare illegal a “purported” change revealed in a 2016 document that removed her as co-trustee weeks after her daughter’s passing. Riley Keough and the late Benjamin Keough were designated as co-trustees in the document “pertaining to be an amendment” of the trust.
Priscilla Presley, Navarone Garcia, and Riley Keough’s representatives did not immediately respond to NBC News’ request for comment. The case’s subsequent hearing is slated for August 4.
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