Riley Keough and Priscilla Presley have reached a settlement in the legal battle over the estate of Lisa Marie Presley, according to the New York Times. As part of the agreement, Keough, who is Lisa Marie’s daughter, will make a lump-sum payment to Priscilla, bringing an end to the dispute.
The conflict arose following the sudden death of Lisa Marie earlier this year. It centered around an alleged 2016 amendment to Lisa Marie’s living trust, which sought to remove Priscilla and former business manager Barry Siegel as co-trustees. The amendment named Keough and her late brother, Benjamin, as the new co-trustees.
To resolve the matter, Keough has agreed to provide up to $400,000 to cover the legal fees incurred by Priscilla. In addition, Priscilla, who is the former wife of Elvis Presley, will continue to be involved in the trust as a “special adviser.” She will receive an undisclosed annual payment for a period of ten years or until her death, as compensation for her new role.
The details of the settlement were not disclosed when the agreement was announced by lawyers for Priscilla and Keough. The motion due date for finalizing the settlement was set for June 12th, and a follow-up hearing was scheduled for August 4th.
After the initial announcement of the settlement in May, Ronson J. Shamoun, Priscilla’s attorney, expressed satisfaction, stating that both families involved were happy, unified, and excited about the future.
This resolution brings an end to the legal dispute over Lisa Marie Presley’s estate, providing closure to the parties involved. Riley Keough will now serve as the sole trustee of her mother’s trust, ensuring the management and distribution of the assets according to Lisa Marie’s wishes.
The settlement highlights the importance of addressing estate matters in a fair and equitable manner, especially in complex family situations. While the details of the agreement remain private, the parties involved have found a resolution that allows them to move forward while honoring the legacy of Lisa Marie Presley.