The Presley family reached a settlement Tuesday to avoid potential litigation over the estate of Lisa Marie Presley, the only recognized daughter of the King of Rock and Roll.
According to lawyers and family representatives, Priscilla Presley, Elvis' ex-wife, and Riley Keough, his granddaughter, agreed to a new distribution of the bequeathed assets following Lisa Marie's death from cardiopulmonary arrest in January 2023.
Negotiations began when Priscilla Presley questioned the legitimacy of Lisa Marie's will after inconsistencies were found in the document. Two weeks after Lisa Marie's death, Priscilla's lawyers set to work to bring the case to trial.
Now with this settlement, "the families are happy, united and excited about the future," according to statements by one of the family's attorneys, Ronson Shamoun.
The Graceland Mansion will be beautifully lit in red, white, and blue for All-American Weekend, July 1-2! Join us in Memphis to celebrate our nation’s independence at Graceland with rock ‘n’ roll, fireworks, and BBQ! DETAILS: https://t.co/191S7Kd47y pic.twitter.com/jdZMDoqgSS
— Graceland (@VisitGraceland) May 13, 2023
Graceland Heritage
At the center of this heritage is Graceland, the Presley family mansion and grounds, where most members of the family are buried. In the 1980s, after the death of the king of rock and roll, Priscilla transformed the place into a house museum dedicated to Elvis. It then became the second most visited home in the UnitedStates, behind only the White House. Lisa Marie was named sole heir to Graceland, so upon her death the property must be bequeathed in full. What was once an emergency measure to save the Presley family accounts is now a lucrative business loaded with symbolism.
Along with Graceland, Lisa Marie Presley was also believed to be worth an estimated $400 million to $500 million in 2020. This fortune was raised largely through the initiatives of Priscilla, who managed Lisa Marie's assets and property until 1993.
