Riley Keough is asking the Los Angeles County Superior Court to officially name her the sole trustee of her late mother Lisa Marie Presley’s trust.
According to court documents obtained by NBC News, attorneys for Keough, 34, filed a petition in the Los Angeles County Superior Court on Monday for approval of last month’s settlement agreement with her 78-year-old grandmother, Priscilla Presley, among other family members.
The agreement puts Priscilla Presley as the trustee of the 1/9 sub-trust for her son Navarone Garibaldi Garcia — Lisa Marie Presley’s late brother who has no relation to Elvis Presley.
The remainder of the trust will be split among Keough and her 14-year-old twin sisters, Harper and Finley Lockwood.
Once the court approves the settlement, Keough will also become the trustee of sub-trusts for Harper and Finley. Keough’s attorney, Justin Gold, noted that the actor will not charge any fee for services as trustee, adding that “the beneficiaries all save money that would have gone to Priscilla, who was going to charge a trustee fee.”
According to Gold, the money provided to Keough via the trust “will be safeguarded and invested in a manner consistent with the needs of the beneficiaries, and not influenced by the desires of a trustee.”
Keough additionally filed the petition to ensure any third parties dealing with the trust and estate are aware of who has been named trustee, the documents state.
“In settling the claims pending in Priscilla’s Petition, the parties are saving significant legal fees by avoiding litigation, and they are likewise avoiding the spectacle of intra-family litigation that would have been inimical to Lisa’s wishes and not in the best interests of the family,” Gold wrote in the petition.
The documents state that Priscilla Presley was officially removed as trustee for the estate of late daughter, Lisa Marie Presley, who died in January.
Weeks after her daughter’s death, Priscilla Presley asked a court to find a “purported” amendment found in a 2016 document that removed her as co-trustee as invalid. The document “pertaining to be an amendment” of the trust instead named Riley Keough and the late Benjamin Keough as co-trustees.
Representatives for Riley Keough, Priscilla Presley and Navarone Garcia did not immediately respond to NBC News’ request for comment. The next hearing in the case is scheduled for Aug. 4.
Source: | This article originally belongs to Nbcnews.com
