What will happen to her inheritance?
After the death of Lisa Marie Presley, ownership of Elvis Presley’s Graceland estate must also be dissolved. What happens to the pilgrimage site now?
On August 16, 1977, rock and roll pioneer Elvis Presley was found dead by his fiancée, Ginger Alden, in the bathroom of his Graceland home in Memphis, Tennessee, at the age of just 42. He was buried first in a cemetery, and after a few weeks permission was given to bury Presley in the Meditation Garden at Graceland. A place of pilgrimage has been created for Elvis fans around the world.
Presley moved into the property in the spring of 1957, shortly after his breakthrough. He only paid about $100,000 for it at the time. His parents, Vernon and Gladys Presley, chose the house for their son and stayed with him for some time.
Presley also lived at Graceland with girlfriend Priscilla Beaulieu for five years before they married in Las Vegas in 1967. Their daughter, Lisa Marie Presley, spent her early years there. Shortly before Presley’s death and her parents’ divorce, she moved to California with her mother.
After his death, his only daughter, Lisa Marie Presley, who died Thursday at the age of 54, inherited the property. First, her grandfather, Vernon, and then her mother, Priscilla Presley, served as executors. Graceland has been open to the public since 1982. Because the enormous maintenance costs had to be funded somehow. Since then, about 650,000 Elvis fans have made the pilgrimage to Graceland each year to be close to and remember their late idol.
Fans can be close to their idol
With a tour of Graceland, fans can learn details from Presley’s life. The tour leads through the living rooms and kitchen, shows the TV and the billiard room installed in the basement – including the bar, the ‘jungle room’ can also be visited. It was first Presley’s study and later his recording studio. There are also many exhibits to see. The Graceland episode ends at Elvis Presley’s grave. Cost point: between 80 and 215 euros.
It is also said that Lisa Marie Presley found her final resting place at the property. A public memorial service is scheduled for Sunday. After his death in 2020, the family buried their only son, Benjamin Keogh, there.
Nothing will change in the company.
Graceland is in a fund that now benefits Lisa Marie Presley’s three daughters – 33-year-old Riley Keough and 14-year-old twins Harper and Finley Lockwood. This reports the Los Angeles Times. “There will be no operational or management changes,” a Graceland spokesperson told the newspaper.
In addition to Graceland, Lisa Marie Presley’s estate also includes her father’s fashions, cars, trophies, and other property, which she managed until her death. A legal expert told The Times that complications can arise “when one owner of wealth dies and his wealth passes to several people because they may have different needs and desires”.
The daughters may not want to keep the estate because they have no personal relationship with Elvis Presley and they can’t keep Graceland and pay the high taxes. It is very likely that it will be sold, and it is also possible that people who want to claim the property will appear.