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Priscilla Presley Comments on Settling Lisa Marie Presley's Estate With Granddaughter Riley Keough - Details Revealed About the Agreement

16.06.2023 - 02:25

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Priscilla Presley is speaking out after coming to terms regarding the handling of Lisa Marie Presley‘s estate.

The former wife of Elvis Presley contested a document that gave control of her daughter’s trust to her granddaughter Riley Keough after Lisa Marie tragically passed away in January.

Four months later, Riley and Priscilla came to an agreement in May. On Wednesday (June 14), Priscilla filed a declaration about the terms of their settlement with the court.

In it, she addressed how she feels about the agreement she and Riley came to and mentions Elvis.

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who died in January.In addition, Keough agreed to keep Priscilla as a “special adviser” to the trust, for which she would be paid an undisclosed sum for 10 years or until her death, whichever came first.“In settling the claims pending in Priscilla’s petition, the parties are saving significant legal fees by avoiding litigation, and they are likewise avoiding the spectacle of intra-family litigation that would have been inimical to Lisa’s wishes and not in the best interests of the family,” the filing said.The terms of the settlement, which was first announced last month though not detailed, need to be approved by a judge in the Los Angeles Superior Court where they were filed. The paperwork stipulates that Keough would pay Presley after Presley resigns from the trust and after Keough receives the proceeds of her mother’s life-insurance policy.The trust battle began after Lisa Marie’s memorial in January when Priscilla’s lawyers filed a petition in Los Angeles challenging the authenticity of a 2016 amendment to Lisa Marie’s living trust.

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13.06.2023 / 11:53

Riley Keough Files to Become Sole Trustee of Lisa Marie Presley's Estate After Priscilla Presley Settlement

Riley Keough is set to become the sole trustee of Lisa Marie Presley's estate, according to new legal documents filed on Monday in Los Angeles. In the docs obtained by ET, Riley petitions the court to approve the settlement agreement reached between her, her grandmother, Priscilla Presley, and Michael Lockwood, the Guardian Ad Litem for her two younger siblings. The settlement terms will see Riley serve as the sole trustee of her mother's estate and the sub-trusts for her sisters, 14-year-old twins Harper and Finley Lockwood. Keough will not charge for her services as trustee, which her lawyer, Justin Gold, writes, «will save money that would have gone to Priscilla who was going to charge a trustee fee.» Her lawyer also states in the docs that Riley intends to safeguard and invest the money «in a manner consistent with the needs of the beneficiaries, and not influenced by the desire of a Trustee.» For her part, Priscilla will serve as Trustee of the sub-trust for her son — Lisa Marie's half-brother, Navarone Garibaldi — who will be granted 1/9 of the Trust.

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