Riley Keough Files to Become Sole Trustee of Lisa Marie Presley's Estate After Priscilla Presley Settlement
Riley Keough is set to become the sole trustee of Lisa Marie Presley's estate, according to new legal documents filed on Monday in Los Angeles. In the docs obtained by ET, Riley petitions the court 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 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. Keough will not charge for her services as trustee, which her lawyer, Justin Gold, writes, «will save money that would have gone to Priscilla who was going to charge a trustee fee.» Her lawyer also states in the docs that Riley intends to safeguard and invest the money «in a manner consistent with the needs of the beneficiaries, and not influenced by the desire of a Trustee.» 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.