Princess Elena was the wife of the Despot Stephen Štiljanović who is also venerated as a Saint. After his death around 1515, she fled to Germany in order to escape from the Turks.
Later, a light appeared at his grave by night, which led to the discovery of his holy relics. The Saint's body was kept for a long time in the monastery of Šišatovacnto at Fruška Gora. When she learned that her husband's incorrupt relics had been uncovered, Saint Elena went to the monastery to venerate them. After witnessing the miracles which took place at his grave, she decided to remain there with the monastic name Jelisaveta. According to Tradition, she founded the Monastery of Petkovica in 1522.
After a life of asceticism, Saint Elena reposed in 1546. There is reason to believe that she was buried at the Convent of the Most Holy Theotokos in Sremski Karlovci.