With the death of Lisa Marie Presley, some might be wondering what will happen to Graceland, the former home of her father, King of Rock and Roll Elvis Presley.
Lisa Marie Presley was the owner of the mansion, the land surrounding it and the items inside the home, WHBQ reported.
Lisa Marie died Thursday after being taken to a Los Angeles hospital for a possible cardiac arrest, The Associated Press reported. She was 54 years old.
According to the Graceland website, upon the death of Elvis Presley on Aug. 16, 1977, the singer’s father — Vernon Presley — served as executor and trustee of his estate. Vernon Presley, Elvis’ grandmother Minnie Mae Presley and Lisa Marie were the beneficiaries. When both Vernon and Minnie Mae died in 1979 and 1980 respectively, it left Lisa Marie as the only heir. Her inheritance was held in trust, per her father’s will, until she turned 25 on Feb. 1, 1993.
Vernon Presley’s death named three co-executors/co-trustees to oversee the estate — the National Bank of Commerce in Memphis, accountant Joseph Hanks and Priscilla Beaulieu Presley, Elvis’ ex-wife and Lisa Marie’s mother.
The original trust dissolved when Lisa Marie turned 25, but Elvis’ daughter created The Elvis Presley Trust to manage the estate. Lisa Marie took control of the management starting in 1998 and eventually served as owner and chairman of the board of Elvis Presley Enterprises — the business arm of the trust, formed in 1981 — until she sold the major interest in the company in 2005.
Graceland is managed by Elvis Presley Enterprises and opened as a tourist destination in 1982. It welcomes more than 500,000 people every year and was designated as a National Historic Landmark in 1991.
Lisa Marie Presley’s representatives told Entertainment Tonight that the estate will go to her daughters — Riley Keough, 33, Harper Lockwood, 14, and Finley Lockwood, 14.
Lisa Marie had talked about her intention of leaving Graceland to her children during an interview in 2013.
“It is absolutely 100 percent mine and it has always been mine, Graceland,” she told Entertainment Tonight. “It will always be. And when it is no longer mine, it will be my children’s. And that is that.”
Lisa Marie will be laid to rest near her father and son at Graceland, with a public memorial service being held on the front lawn at 9 a.m. on Sunday, WHBQ reported.
Several members of the Presley family are interred at the estate including Elvis, his parents, his grandmother and Lisa Marie’s son Benjamin Keough, who died by suicide in 2020. There is also a memorial stone for Elvis’ twin Jessie who died at birth, Entertainment Tonight reported.
0 of 11
©2022 Cox Media Group
