Thanks to a trust set up in 1993, Lisa Marie Presley held complete authority over Graceland, the beloved home-turned-museum of her late father Elvis Presley. After Lisa Marie, 54, dies away on January 12, 2023, find out what will happen to the iconic Memphis, Tennessee estate.

Who Will Own Graceland After Me?

The aforementioned trust is said to have been used to divide the Graceland fortune among Lisa Marie’s three kids. Harper and Finley Lockwood, twins who are all 14 years old, and Riley Keough, a 33-year-old child from her first marriage to singer Danny Keough, were born to Lisa Marie during her second marriage to Michael Lockwood.

After creating Lisa Marie’s trust in 1993, the musician updated the will in 2016 to add Riley and her son Benjamin Keough as cotrustees in place of mother Priscilla Presley and business manager Barry Siegel. Riley was chosen to serve as the only trustee following Benjamin, who went away in 2020 at the young age of 27.

About two weeks after her daughter passed away, Priscilla filed a legal challenge questioning the will’s legality, citing the 2016 amendment as the basis for her skepticism. Elvis’ ex-wife asserted that Lisa Marie’s “inconsistent” signature and the 2016 adjustment’s misspelling of her name pose legal difficulties in a legal suit dated January 26, 2023. She said that Lisa Marie never informed her that her role as a cotrustee had been terminated. Since then, Lisa Marie’s friends have been upset with Priscilla for starting the legal dispute; according to one source who spoke to NBC News, it was just a “money grab.”

The insider stated on January 30, 2023, “Lisa’s intent was fairly obvious for her children to inherit her trust.” Priscilla wasn’t familiar to Lisa, thus she “really didn’t feel that Priscilla was acting in her best interest.”

Lisa Marie Presley’s journey to Graceland.
The late “King of Rock and Roll” and his sole spouse, Priscilla Presley, had one child together, Lisa Marie. Following his death in August 1977, just three individuals were named as beneficiaries in Elvis’ will: his father Vernon, grandmother Minnie, and his daughter, who was nine years old at the time. Vernon and Minnie had both gone away by the year 1980, leaving Lisa Marie as the only heir to Elvis’ fortune. Until she reached 25 on February 1st, 1993, the singer of “Hound Dog” and Graceland put their $100 million inheritance into a trust. She then assumed exclusive legal possession of the house.

According to the Graceland website, the trust was automatically dissolved on Lisa Marie’s birthday. She subsequently made the decision to create a new trust, The Elvis Presley Trust, with Priscilla and the National Bank of Commerce continuing to act as cotrustees in order to successfully handle the estate. Graceland was preserved, but due to Barry, her previous business manager, making poor investments, Lisa Marie regrettably lost a large portion of Elvis Presley’s money.

After Elvis passed away, the estate needed to pay roughly $500,000 in taxes and upkeep each year. His cunning ex-wife Priscilla made the decision to keep the home alive by converting it into a museum. Graceland is the second-most visited house in the nation behind the White House, with more than 600,000 visitors each year. On June 7, 1982, the location formally started giving tours.

Graceland is where Lisa Marie Presley was buried.
The “Over Me” singer was interred in Graceland next to her father and other family members. Benjamin, Lisa Marie’s only child, is buried in Graceland beside Elvis and his parents. Ben committed suicide in July 2020. At the meditation garden, he was laid to rest next to Lisa Marie. On January 22, 2023, at 9:00 a.m., a memorial ceremony was held for Lisa Marie on Graceland’s front lawn.