Ever since Lisa Marie Presley passed away on January 12, her family, friends, and closest constituents have been fighting over who should have control over her trust – her mother, Priscilla Presley, or her daughter, Riley Keough. Both sides continue to mourn over their loss, but not without a lot of drama.
On one side of the equation, Riley and her brother, Benjamin Keough (who passed away in 2020), were given control of the trust after Lisa Marie filed an amendment in 2016 – which removed Priscilla and Lisa Marie’s former manager (Barry Siegel) as co-trustees. If the amendment is valid, Riley gains control.
On the other side of the equation, Priscilla is arguing that Lisa Marie didn’t follow proper protocol when filing the amendment. Since Priscilla wasn’t notified about the amendment until after Lisa Marie’s death, she’s arguing that the amendment isn’t valid or authentic – if it isn’t, Priscilla and Riley are both trustees.
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Priscilla Presley filed the petition four days after the memorial for her daughter, but it appears the drama started well before that. A source close to the situation, according to PEOPLE, says tension between Riley and Priscilla really began at the memorial, when an uninvited person unexpectedly showed up.
That uninvited person was Michael Lockwood – Lisa Marie’s former husband, who she shares twins with (Harper and Finley Lockwood). Lisa Marie filed for divorce in 2016 and a custody battle ensued – a battle that saw Priscilla side with Lockwood, while Riley sided with Lisa Marie. That’s what started the ‘feud.’
“Michael was not invited. He came to Memphis under the pretense that he had to chaperone the twins — and he forced his way in with Priscilla’s help. The last thing Lisa Marie would have wanted was for Michael to be there,” the source told PEOPLE – adding that Riley and Priscilla aren’t seeing eye to eye.
This might come as a surprise, considering the family – including Priscilla, Riley, the twins, Lockwood, and Lisa Marie’s half-brother – appeared to be united at the memorial. In the background, Riley was extremely upset and ‘bothered’ (according to the source) that Priscilla flew to the funeral with Lockwood.
Riley Keough is Shocked That Priscilla Presley Filed the Petition
More sources, according to PEOPLE, are coming forward as they offer their personal opinions over the situation. A friend of Lisa Marie is assuring everyone that Lisa Marie ‘never discussed with Priscilla any business’ in the 7 years leading up to her death. In fact, she was intent on her children gaining control.
“She wanted each of her four children to have 5 percent of the estate,” said Lisa Marie’s friend of her final wishes – adding that Lisa Marie ‘inquired on multiple occasions what it would take’ to make that happen (which would require her to buy back some of the stake). That was the whole reason for the amendment.
Another source put the feud simply. “Priscilla doesn’t want Riley solely in charge, because then she has no say. Meanwhile, Riley doesn’t want Priscilla to butt in.” Other sources have called it a ‘sad situation,’ adding ‘Riley is shocked Priscilla is contesting the amendment.’ Nonetheless, the feud continues.
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As of right now, both sides are waiting and preparing for April 13, when a court hearing will take place. In the meantime, Riley Keough is focusing her efforts on her acting career and her first child with husband Ben Smith-Petersen – also the first grandchild of Lisa Marie and first great-grandchild of Elvis Presley.
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