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Dannielle Maguire

What happens to Graceland after Lisa Marie Presley's death?

Elvis Presley's former home, a mansion on more than 5 hectares of land, is a major tourist destination in Memphis in the US state of Tennessee. 

As his only child, daughter Lisa Marie Presley, played a big role in preserving the home and his memory. 

Presley died aged 54 on Thursday after a reported cardiac arrest. 

So what's going to happen to one of America's most famous homes after her death?

Did Lisa Marie Presley own Graceland?


Elvis Presley died aged 42 on August 16, 1977, with his will naming his father Vernon Presley as the executor and trustee. 

There were only three beneficiaries — Elvis's father, his grandmother Minnie Mae Presley and his daughter Lisa Marie Presley. 

Elvis and Priscilla Presley divorced in 1973.  

Vernon Presley died two years after his son in 1979 and Minna Mae Presley died in 1980, which left Lisa Marie Presley as the sole heir to her father's estate. 

But the will stated that her inheritance would be held in a trust for her until she turned 25.

Before he died, Vernon Presley named three co-trustees to succeed him:

  • The National Bank of Commerce in Memphis 
  • Elvis and Vernon's accountant Joseph Hanks — who died in 1990
  • Priscilla Presley 

When Lisa Marie Presley turned 25 on February 1, 1993, the trust dissolved. 

She then formed The Elvis Presley Trust to keep running the estate, with her mother and the National Bank of Commerce serving as co-trustees.

In 2005, she sold 85 per cent of Elvis Presley Enterprises, the trust's business entity, hanging on to the other 15 per cent.

She also retained ownership of the mansion, its grounds and the contents of the home — including her father's costumes, cars and awards — after the sale of her interests in the company.

What will happen to Graceland?

"Nothing will change with the operation and management of Graceland," Graceland spokesperson David Beckwith told the Daily Memphian newspaper. 

Graceland's website says more than 500,000 visitors tour the grounds each year.

Who owns Graceland now?

The mansion is in a trust that will go to the benefit of Lisa Marie Presley's three living children, a spokesperson told the Associated Press.

Who are Lisa Marie Presley's children?

Lisa Marie Presley gave birth to four children.

She had two children with former husband Danny Keough:

  • Riley Keough, born in 1989
  • Benjamin Keough, born in 1992

She also had twins with former husband Michael Lockwood, born in 2008:

  • Harper Lockwood
  • Finley Lockwood

Benjamin Keough died by suicide in 2020, aged 27. 

Presley was married to Keough from 1988 to 1994.  

She married Lockwood in 2006 and began divorce proceedings in 2016. 

While the their divorce still hasn't been resolved, Presley and Lockwood were declared single in 2021. 

Presley was also previously married to Michael Jackson and Nicolas Cage. 

Where will Lisa Marie Presley be buried?

"Lisa Marie's final resting place will be at Graceland, next to her beloved son Ben," a spokesperson for her daughter Riley Keough said. 

Elvis Presley is buried alongside his father, grandmother, and mother Gladys Presley in the estate's Meditation Garden. 

Graceland's website says visitors are able to see the gravesites for free most mornings, with the Meditation Gardens open for a designated timeslot between 7:30am to 8:30am.

ABC with Wires

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