It would be an understatement Lisa Marie Presley’s tragic death at age 54 earlier this year had a serious impact on her family. They eventually came together as a family to lay her to rest in Graceland not far from her famous father, Elvis. However, shortly after, Lisa Marie’s daughter, Riley Keough, and mother, Priscilla, engaged in a legal battle over her trust. Things seemed contentious for a while but, ultimately, both sides reached a settlement. It would appear that we now have some additional information on the terms of the deal. Most interestingly, newly surfaced legal documents indicate the matriarch of the family was asked to drop her petition for what’s been referred to as an undisclosed sum.
This entire legal debacle was initiated by a signed document filed in 2016, which stipulated that Priscilla Presley would be removed as one of the co-trustees of her daughter’s will. She reportedly had an issue with this and as a result, chose to contest the decision with a petition worth $35 million. When it comes to her reasoning for taking that course of action, Presley said that she was looking to “protect” Riley Keough and her other two grandchildren and ultimately “keep our family together.”
The settlement news was reported weeks ago, but the deal was officially approved by the Daisy Jones & The Six star on Monday, according to THR. Under this new agreement, the actress will serve as the sole trustee of Lisa Marie Presley’s estate. As for Priscilla, the trade didn’t specify her compensation for no longer contesting the “authenticity and validity” of the aforementioned amendment. This could be an indication, however, that she’s receiving a considerable amount of cash. Such a notion lines up with previous reports that indicated that she’d be walking away with a lot of money following the settlement. Not only that, but she’s also now permitted to be buried alongside her husband in Graceland. That's rather significant since that request was previously denied by her granddaughter.
Based on the information presented, it would seem the dissolution of this estate battle could end up being beneficial for both parties. The filing even mentions that the two sides are set to save a significant amount of money in legal fees:
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.
Priscilla Presley released a statement shortly after the settlement was reported to have been reached. While speaking out, she sought to point out a mistake that she believes the public made while analyzing the situation. Presley asserted that she never filed a “lawsuit” against her granddaughter. Riley Keough, for her part, hasn’t released too many statements on the matter. Sources did claim that the back-and-forth was wearing on her and, in the aftermath, it was said that Keough was “relieved” to have finalized everything.
So all in all, it would appear that the legal drama between the members of the Presley/Keough family has now come to an end. Details like the exact sum Priscilla is receiving likely won’t be made public, and the lawyers for her and her granddaughter aren’t commenting. But if anything, this resolution will now seemingly allow the famous brood to move on with their lives.
