Lisa Marie Presley’s Daughter Agrees To Pay Millions To Estranged Grandma Priscilla, Ending Fight Over $35 Million Trust
May 16 2023, Published 2:01 p.m. ET
Lisa Marie Presley’s oldest daughter Riley Keough has reached a settlement with her estranged grandmother Priscilla in the fight over her mother’s trust worth $35 million, RadarOnline.com has learned.
On Tuesday, Priscilla’s attorney announced the deal outside the courthouse. He said, “The families are happy. Everybody is happy and excited for the future." A source said the agreement has Riley paying Priscilla millions to drop her fight to be co-trustee of Lisa Marie’s trust.
As we previously reported, weeks after Lisa Marie’s death, Priscilla rushed to court demanding to be put in control of the trust. Lisa Marie was heavily in debt at the time of her death but had life insurance policies that paid out $35 million.
The beneficiaries of the estate are Riley and her two younger sisters Harper and Finley. Priscilla claimed that Lisa Marie had appointed her and her ex-business manager Barry Siegel as co-trustees of the trust.
However, Priscilla said there was an alleged 2016 amendment to the will that was floating around. In the alleged amendment, Priscilla was removed as co-trustee and Riley was to be the sole person in control of the trust, which includes Graceland and a stake in Elvis Presley Enterprises.
In court documents, Priscilla claimed the signature on the amendment did not appear to be that of her late daughter. She claimed it appeared, “inconsistent with her usual and customary signature."
The settlement brings an end to the entire battle. All signs point to Riley taking over the trust after paying out her grandmother.
Harper and Finley are being taken care of by Lisa Marie’s ex-husband Michael Lockwood. He was awarded primary custody of the girls after Elvis’ only child’s death.
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Sources claimed Priscilla and Michael became close after Lisa Marie’s death which infuriated Riley, who was never a fan of him.
“Lisa Marie was at constant war with Michael even after their five-year divorce ended in 2021 and she was barely speaking to Priscilla during the last years of her life,” said an insider.
Riley has yet to comment on the settlement.
