Lisa Marie Presley’s Ex-Husband Claims Riley Keough Approves of His Six-Figure Demand from Elvis Trust

Lisa Marie Presley’s ex-husband Michael Lockwood is back in court pleading for his request for $150k in legal fees to be reimbursed by Elvis Presley's trust — run by Riley Keough — In Touch can exclusively reveal.

According to court documents obtained by In Touch, Michael, 63, claimed there were conversations with Lisa Marie’s daughter Riley, 35, about the fees being covered before he filed his motion in March.

Michael was appointed as guardian for Harper and Finley, the 15-year-old twins he had with Lisa Marie, following her tragic death in 2023.

Riley was appointed as sole administrator of The Promenade Trust, which holds most of Elvis’ estate, after her grandmother Priscilla Presley dropped her court fight to be named coadministrator.

To settle the matter with Priscilla, 79, Riley agreed to pay $1 million to her grandmother and make regular payments from the trust. In addition, Riley agreed to pay $400k to cover Priscilla’s legal fees. Michael claimed he racked up legal bills while representing Harper and Finley in the aftermath of Lisa Marie’s death.

In his petition, Michael’s lawyer said, “After Lisa Marie’s death, the Promenade Trust was the subject of litigation, primarily focused on who should be the trustee. To protect and represent their interests in this litigation, Finley and Harper sought and secured the court appointment of their father, Michael Lockwood, to serve as their Guardian Ad Litem.”

He continued, “Through the significant efforts and contributions of the parties, including Mr. Lockwood and his counsel, all disputes surrounding Lisa Marie’s estate were amicably and efficiently resolved, and that settlement was approved by this Court on August 4, 2023.”

Michael said he helped Riley and Priscilla work out the settlement. His lawyer said, “from the outset, Michael and his counsel played a central role in helping keep the parties focused on resolving those issues with minimal court intervention.” He asked the court to approve his request to be reimbursed $153,647.32 spent in legal fees.

At a recent hearing, the judge decided not to rule on the issue until “additional evidence” was presented. In his newly filed motion, Michael revealed Riley allegedly signed off on the legal fees being paid. His lawyer claimed, “However, at all relevant times during the settlement negotiations, the parties – specifically Riley Keough, as Successor Trustee of the Promenade Trust – understood that, following the execution of the Settlement Agreement, Mr. Lockwood would seek reimbursement for his legal fees from the Promenade Trust once approved by this Court.”

Further, he said the payment could be deducted from the “shares of the Promenade Trust established for Finley Aaron Love Lockwood and Harper Vivienne Ann Lockwood in equal shares.”

He added, “Importantly, if Mr. Lockwood’s request that his fees and costs be paid from his daughters’ share of the Promenade Trust was inconsistent with the terms or spirit of the parties’ settlement agreement, rest assured that Ms. Keough, as trustee, would have objected. She has not objected because it was anticipated that Mr. Lockwood’s fees would be paid by the trust.” A judge has yet to rule on the matter.

A hearing has been set for later this month.