Actress Riley Keough has reportedly agreed to pay her grandmother, Priscilla Presley, over $1 million to become the sole trustee of her mother Lisa Marie Presley’s estate. Keough will give Priscilla a $1 million lump-sum payment and an additional $400,000 to cover legal fees. The settlement was reached after Priscilla was removed as a trustee, and while the details were kept confidential, it was revealed that she was denied her request to be buried next to her late husband, Elvis Presley.
Riley Keough has reportedly agreed to pay her grandmother, Priscilla Presley, $1.4 million to become the sole trustee of her mother Lisa Marie Presley’s estate, according to court documents obtained by People.
Title: Riley Keough Settles Dispute Over Lisa Marie Presley’s Trust with Priscilla Presley
Introduction:
In recent news, Hollywood actress Riley Keough has reportedly reached an agreement in the legal battle over the estate of her mother, Lisa Marie Presley. According to court documents obtained, Keough, 34, is said to have agreed to pay her grandmother, Priscilla Presley, a substantial sum of money in order to become the sole trustee of the estate. The settlement details were initially kept confidential, but a recent filing sheds light on the agreement.
Settlement Details:
According to the court documents filed in Los Angeles, Riley Keough has agreed to pay Priscilla Presley a lump sum of $1 million, along with an additional $400,000 to cover legal fees. These substantial payouts are to be made “at the same time” as Keough receives the proceeds of her mother’s life insurance policy. This arrangement comes after Priscilla was officially removed as the trustee of Lisa Marie’s estate earlier in May, with Keough taking over the role.
Priscilla’s Denial and Statement:
Although Priscilla Presley received a significant financial settlement, her request to be buried next to her late husband, Elvis Presley, was allegedly denied during the negotiation talks. Following the settlement, Priscilla provided a statement to Page Six, clarifying that there was never a lawsuit filed against her beloved granddaughter. She emphasized that the family had resolved all confusion and was grateful for the privacy needed to grieve Lisa Marie’s passing. Priscilla also expressed her appreciation for the support received, emphasizing that the Presley family is now stronger than ever.
The Legal Battle and Aftermath:
The legal dispute arose when Priscilla contested the validity of Lisa Marie’s will, aiming to challenge an alleged 2016 amendment that removed her as a trustee and appointed Riley Keough, along with Lisa Marie’s late son Benjamin Keough, as co-trustees. Sources revealed that the legal battle took its toll on the family dynamic, leading to strained relations between the two women. The insider confirmed that Riley and Priscilla were not on speaking terms, and the once-close relationship was changing. The heartbreaking situation prompted concerns about Riley’s need for support, particularly from her grandmother, during this difficult time.
Conclusion:
Riley Keough’s settlement with Priscilla Presley brings an end to the dispute over Lisa Marie Presley’s trust. While financial aspects have been resolved, the emotional toll on the family remains evident. As the Presley family mourns Lisa Marie’s untimely passing, they hope for privacy and unity during this period of grief. Riley Keough’s agreement brings about a new chapter in the family’s journey, as they navigate through their loss and find strength in their shared bond.