Riley Keough to Pay Priscilla Presley $1 Million to Resolve Elvis Estate Dispute
thewrap.comwho 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.
Read more on thewrap.com