Priscilla Presley Accepts Riley Keough As Sole Trustee Of Elvis Estate – Hollywood Life

Priscilla Presley Breaks Silence On Granddaughter Riley Keough Becoming Sole Trustee Of Elvis Estate

Priscilla Presley reportedly believes Elvis Presley and their late daughter, Lisa Marie, would be thrilled with Riley as the sole trustee of the Presley estate.

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Priscilla Presley, 78, is satisfied with the agreement she and her granddaughter, Riley Keough, have come to over Lisa Marie Presley’s estate after her unexpected death in January. In a declaration she reportedly filed Wednesday in Los Angeles that PEOPLE claimed to have obtained, the 78-year-old ex-wife of Elvis Presley confirmed that Elvis and Lisa Marie would approve of the final settlement, which has Riley, 34, becoming the sole trustee of the entire Presley estate. “My daughter’s passing was both devastating and heartbreaking. We have learned that the fans realize that we are ‘Just a Family,'” she wrote, seemingly alluding to the reported drama that went down over the estate.

“Elvis would be proud and his and Lisa’s wishes are what are most important to all of us,” Priscilla continued. “My granddaughter, through her counsel, along with my team worked diligently and tirelessly to resolve all misunderstandings as a family.” Riley is the daughter of Lisa Marie and her ex-husband, Danny Keough. She also had twins Finley and Harper Lockwood with her ex-husband, Michael Lockwood. Lisa Marie is the only daughter of Elvis and Priscilla.

Priscilla Presley, Riley Keough
Priscilla Presley and Riley Keough arrive at The Humane Society of the United States Gala in 2016 (Photo: Shutterstock)

Weeks after the singer-songwriter’s death, it was reported that Priscilla was challenging Lisa Marie’s trust by claiming “fraud”, according to The New York Post. Priscilla reportedly found an amendment that cut her and her former business manager, Barry Siegel, as trustees and declared there were “multiple reasons why [the amendment] could be a fraud.” The report caused heavy speculation that Priscilla’s move was a huge upset to the family. At one point, it was reported that the Dallas star and Daisy Jones & The Six actress stopped communicating as their legal battle ensued.

“It has been a very tense and heartbreaking few weeks for both Riley and Priscilla. Riley has been mourning the loss of her mother and is heartbroken to have to deal with a trust dispute with a family member. Priscilla is adamant that she has a valid case and that she will prevail in court,” a Presley family insider claimed to  Entertainment Tonight in February. “Riley and Priscilla aren’t communicating at this time, but have been in communication through lawyers.”

Priscilla Presley, Lisa Marie Presley, Riley Keough'Mad Max: Fury Road' film premiere
Priscilla Presley, Lisa Marie Presley, and Riley Keough pose at the ‘Mad Max: Fury Road’ film premiere in 2015 (Photo: Shutterstock)

Amid reports that Priscilla was after her late husband’s money, she released a statement and adamantly denied such motives. “I loved Elvis very much as he loved me. Lisa is a result of our love. For anyone to think anything differently would be a travesty of the family legacy and would be disrespectful of what Elvis left behind in his life,” she wrote. “Please allow us the time we need to work together and sort this out. Please ignore ‘the noise.’ As I have always been there for Elvis’ legacy, our family, and the fans, I will continue to forge a pathway forward with respect, honesty, dignity, integrity, and love.”

As noted above, the trust agreement was finalized in May. Shortly after, PEOPLE reported that Riley is expected to give Priscilla $400,000 for legal fees as well as a $1 million payment. In return, she will be the sole trustee of the family estate.