A familial dispute between Riley Keough and Priscilla Presley, involving the Presley family trust, became public two weeks following the unexpected demise of Lisa Marie Presley in January, at the early age of 54.
At the core of this legal turmoil was a contested 2016 amendment to the Presley family trust. This amendment, allegedly authorized by Lisa Marie, eliminated Priscilla Presley and the family’s former business manager, Barry Siegel, from the beneficiary list. This critical amendment sparked the contentious legal battle between Keough, Lisa Marie’s daughter, and Priscilla Presley, her mother.
Despite rigorous efforts to maintain confidentiality by the legal parties, the details of the settlement found their way into the public domain. As part of an agreement to terminate the conflict over Lisa Marie Presley’s estate, Riley Keough will make a substantial lump-sum payment exceeding $1 million to Priscilla Presley.
Furthermore, Priscilla’s legal fees pertaining to the petition challenging the inheritance of Lisa Marie’s trust, which could amount to as much as $400,000, will be covered by Keough. The terms of the settlement also lay out the future roles of both parties in the trust. Keough will assume the position of the sole trustee of her late mother’s trust.
Meanwhile, Priscilla Presley will undertake a role as a “special adviser” to the trust. For this advisory position, she will receive an undisclosed annual sum for the next 10 years, or until her death. This latest development seems to bring an end to a legal saga that has been under intense scrutiny and interest.
