Finley Aaron Love Lockwood Age, Heritage, and Estate Truths: Clearing up the Presley Family Myths
By James H. Sterling
Following Lisa Marie Presley’s sudden death from a small bowel obstruction on January 12, 2023, the family faced immediate scrutiny over who controlled the finances. The focal point of the legal dispute was the Promenade Trust, which holds Lisa Marie's remaining 15% stake in Elvis Presley Enterprises and 100% sole ownership of the iconic Graceland mansion in Memphis, Tennessee.
Priscilla Presley initially filed a petition in Los Angeles Superior Court challenging a 2016 amendment that removed her and former business manager Barry Siegel as co-trustees, replacing them with Lisa Marie's adult children, Riley and the late Benjamin Keough. Speculation erupted across entertainment news that the family was headed toward a protracted, bitter trial. However, the matter was resolved within months through mediation.
In May 2023, the family reached an extensive formal settlement, later approved by Judge Brenda Penny in August 2023. Riley Keough assumed the role of sole trustee of the Promenade Trust. As part of the court agreement, Priscilla Presley received a one-time lump-sum payment of approximately $1 million, along with $400,000 to cover legal fees, funded by Lisa Marie’s life insurance policy, while serving as a paid special adviser to the trust. Crucially, the underlying equity and real estate holdings remained preserved entirely for Lisa Marie’s three surviving daughters: Riley, Harper, and Finley.
James Sterling reports on renewable energy developments, climate policy, ecological conservation, and green tech innovations around the globe.
