Following the death of Elvis Presley in 1977, Graceland went from being a family home to being a tourist attraction. But, throughout the past 45 years, the Tennessee mansion has still remained connected to the family of the King. When the iconic star died, the home went to his father, his grandmother, and his only child, Lisa Marie Presley. Eventually, Lisa Marie became the sole beneficiary.
But now, following the shocking death of Lisa Marie at age 54, the home and museum is changing hands once again. Read on to find out about Graceland's future and who will be inheriting it.
Lisa Marie became the sole owner over 40 years ago.
According to the Graceland website, after the passing of Elvis' father Vernon Presley in 1979 and grandmother Minnie Mae Presley in 1980, Lisa Marie became the sole heir to his estate. But, because she was still a child, her inheritance was held in a trust until she was 25, as determined by Elvis' will.
When she turned 25, Lisa Marie became the owner of Graceland. At this point, she formed The Elvis Presley Trust in order to manage the property. Her mother and Elvis' ex-wife Priscilla Presley became a co-trustee, as did the National Bank of Commerce.
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Lisa Marie's children are next in line.
Following Lisa Marie's death, Graceland will benefit her three daughters, 33-year-old Riley Keough and 14-year-old twins Harper and Finley Lockwood, as reported by People. The mansion remains in the trust.
Lisa Marie welcomed Riley with her first husband, musician Danny Keough, in 1989. She welcomed the twins with her fourth husband, Michael Lockwood, also a musician, in 2008.
As reported by Entertainment Tonight, Lisa Marie discussed the future plans for Graceland in a 2013 interview.
"It is absolutely 100 percent mine and it has always been mine, Graceland," Lisa Marie said at the time. "It will always be. And when it is no longer mine, it will be my children's. And that is that."
She will be buried at the estate.
Lisa Marie will be laid to rest alongside other family members at Graceland, including Elvis, his parents Vernon and Gladys Presley, and his grandmother. Lisa Marie's son, Benjamin Keough, who died in 2020 at age 27, is also buried on the site.
"Lisa Marie's final resting place will be at Graceland, next to her beloved son Ben," a representative for Riley told People.
Graceland continues to be a popular tourist attraction.
Today, the Graceland site doesn't just include the home that Elvis purchased in 1957. The destination also encompasses restaurants, museums, and a hotel, and often plays host to live music events. According to the Graceland website, half a million visitors come onto the grounds each year, a number that's estimated to have an economic impact of $150 million annually on the city of Memphis.