After the death of Lisa Marie Presley, several fans were left wondering who would inherit Elvis Presley’s famous estate. The Memphis Tennessee property, which is a trust, will benefit Riley Keough, 33, and twins Finley and Harper Lockwood, 14, according to the representative for Graceland.
Not only did Lisa Marie grow up in Graceland, but it was also where Elvis died back in 1977 at the age of 42, when she was only nine. Graceland was officially left to Lisa Marie, who was Elvis’ only child, as part of her inheritance and trust that was dissolved on her 25th birthday in 1993. At that point, she became the sole owner of the famous property.
Graceland Stays in The Family
In order to continue the successful management of the estate, Lisa Marie went on to choose to form a new trust, The Elvis Presley Trust, with her mother, 77-year-old Priscilla Presley, and the National Bank of Commerce. Over the years, the trustees went on to open Graceland up to the public via a variety of overnight stays and tours.
Elvis originally purchased the home in 1957 for $100,000. In 2020, according to Rolling Stone, it is estimated to be worth as much as $500 million. When it came to the property, Lisa Marie was adamant to keep it in the family.
“Graceland was given to me and will always be mine,” she said back in 2013. “And then passed it to my children. It will never be sold.”
On Monday, the Pressley family announced that they will be holding a public memorial service for Lisa Marie on Graceland’s front lawn on January 22nd at 9:00 a.m. Representatives for the family had previously told news outlets that Lisa Marie would be laid to rest next to her dad and son, Benjamin Keough, who died by suicide in July 2020 at the young age of 27.
Lisa Marie Presley died on January 12th at the age of 54 after going into cardiac arrest at her home and coding multiple times at West Hill Hospital and Medical Center. According to an insider, there appeared to be no drugs on the scene.
Lisa Marie shared Riley and Benjamin with Danny Keough, who she was married to from 1988 to 1994. She also co-parented her twins with Michael Lockwood, who she was married to from 2006 to 2016.
Lisa Marie was also married to Michael Jackson from 1994 to 1996, as well as actor Nicolas Cage from 2002 to 2004.