Riley Keough & her two sisters inherited the trust which operates Graceland
Lisa Marie Presley passed away last Thursday in Los Angeles. So far, no one is saying much (on the record) about what will happen to Lisa Marie’s 14-year-old twin girls, Harper and Finley. Lisa Marie was still fighting with her last ex-husband Michael Lockwood over custodial issues regarding Harper and Finley. I suspect (but have not seen confirmed) that Lockwood will probably have full custody of the girls now, although it does seem like the custody issue will go to court. For now, everyone is trying to figure out what will happen with Lisa Marie’s estate, which includes full ownership of Graceland.
Elvis Presley’s iconic Memphis, Tenn. mansion, Graceland, will stay in the Presley family. Following the death of Lisa Marie Presley on Thursday, the property, which is in a trust, will benefit Lisa Marie’s three daughters, Riley, Harper and Finley, a representative for Graceland confirms to PEOPLE.
The King of Rock and Roll’s former home was passed down to his only daughter, Lisa Marie, after he died in 1977. It is now open for a variety of tours and overnight stays.
Lisa Marie had two children from her marriage to Danny Keough: Riley, 33, and Benjamin, who died by suicide at age 27 in July 2020. She married Michael Lockwood in 2006 with whom she had her now 14-year-old twin daughters, Harper and Finley. Presley and Lockwood split in 2016 and their divorce was finalized in 2021.
According to the official website of Graceland, the estate was left to Lisa Marie in trust when she was only nine years old, and the trust officially dissolved upon her 25th birthday in 1993 giving her full ownership of the home. She then formed The Elvis Presley Trust to manage the property alongside her mother, Priscilla Presley, and the National Bank of Commerce.
It was smart for Lisa Marie to form the trust to take care of Graceland and keep it open as a museum and tourist destination. I would also imagine that Lisa Marie left specific instructions in her will, for Graceland and the distribution of her assets. Do you think everything will be split equally between Riley, Finley and Harper? Or will Riley get more because she’s older?
Photos courtesy of Avalon Red.
LA Premiere Of Sony Pictures Classic's "Maiden",Image: 447800086, License: Rights-managed, Restrictions: , Model Release: no, Credit line: FayesVision / Wenn / Avalon 
WEST HOLLYWOOD, LOS ANGELES, CALIFORNIA, USA – NOVEMBER 13: Actress Riley Keough arrives at the Baby2Baby 10-Year Gala 2021 held at the Pacific Design Center on November 13, 2021 in West Hollywood, Los Angeles, California, United States.,Image: 643098991, License: Rights-managed, Restrictions: , Model Release: no, Credit line: Xavier Collin / Avalon 
Harper Vivienne Ann Lockwood, Lisa Marie Presley, Priscilla Presley, Riley Keough, Finley Aaron Love Lockwood attends the Handprint And Footprint Ceremony honoring Priscilla Presley, Lisa Marie Presley And Riley Keough at TCL Chinese Theatre on June 21, 2022 in Hollywood, California,Image: 701640210, License: Rights-managed, Restrictions: , Model Release: no, Pictured: Harper Vivienne Ann Lockwood, Lisa Marie Presley, Priscilla Pres, Credit line: – / JPI Studios / Avalon
Harper Vivienne Ann Lockwood, Lisa Marie Presley, Priscilla Presley, Riley Keough, Finley Aaron Love Lockwood attends the Handprint And Footprint Ceremony honoring Priscilla Presley, Lisa Marie Presley And Riley Keough at TCL Chinese Theatre on June 21, 2022 in Hollywood, California,Image: 701640266, License: Rights-managed, Restrictions: , Model Release: no, Pictured: Harper Vivienne Ann Lockwood, Lisa Marie Presley, Priscilla Pres, Credit line: – / JPI Studios / Avalon 
Harper Vivienne Ann Lockwood, Lisa Marie Presley, Priscilla Presley, Riley Keough, Finley Aaron Love Lockwood attends the Handprint And Footprint Ceremony honoring Priscilla Presley, Lisa Marie Presley And Riley Keough at TCL Chinese Theatre on June 21, 2022 in Hollywood, California,Image: 701640279, License: Rights-managed, Restrictions: , Model Release: no, Pictured: Harper Vivienne Ann Lockwood, Lisa Marie Presley, Priscilla Pres, Credit line: – / JPI Studios / Avalon 
LOS ANGELES, CA – JUNE 22: Riley Keough attends “The Terminal List” Los Angeles premiere at DGA Theater Complex on June 22, 2022 in Los Angeles, California.,Image: 702161804, License: Rights-managed, Restrictions: , Model Release: no, Pictured: Riley Keough, Credit line: Jeffrey Mayer / AvalonncG1vNJzZmivp6x7pLHLnpmirJOdxm%2BvzqZmcWhga4R5e9Gio56xj6CysMHGoZahnaKUwbi7vqygrKyVp8Cgtc2hnKuhpJqxoMDHnpatqqWowaDDx6KaoZefpbKzrdOeqpifopawprjAp5to