Priscilla Presley and Riley Keough reached a legal agreement over control of Lisa Marie Presley’s funds. The grandmother and granddaughter have been making headlines because of their dispute over Lisa Marie Presley’s trust fund. The legal battle has finally come to an end with a win-win situation. Priscilla benefits from a million dollar settlement and Riley only controls the $35 million trust.
Priscilla Presley Says Elvis Presley Would Be Proud Of Riley Keough Deal
Lisa Marie Presley, who was the sole heir to legendary singer Elvis Presley’s trust fund, passed away in January 2023. Lisa suffered a cardiac arrest which led to her death. The singer is survived by three daughters, Riley Keough and twins Finely and Harper. The world was shocked when Riley was named the sole administrator of her estate, which was estimated to be around $35 million. Lisa Marie Presley’s mother, Priscilla, took the matter to court and claimed the trust. As the matter dragged on, Riley decided to offer her grandmother, Priscilla, an offer to settle. The latter walked away with a multi-million dollar settlement after giving up her claim to the trust fund.
A legal statement filed by Priscilla states that she is happy that Riley has put the matter behind her and has decided to settle. “The death of my daughter was devastating and heartbreaking,” the statement read. “We have learned that the fans realize that we are ‘Just a family.’ Elvis would be proud, and his and Lisa’s wishes are the most important to all of us.”
Priscilla added: “My granddaughter, through her attorney, along with my team worked diligently and tirelessly to resolve all misunderstandings as a family.”
Priscilla Presley claims there was no ‘fight’ with Riley Keough
As Priscilla took the matter to court, reports of an argument between her and Riley kept surfacing. She clarified in the document that there was no fight and that she was “misunderstood.” “My January 2023 petition was misconstrued by the press as a ‘fight’ over my beloved daughter’s trust,” she wrote Priscilla. “That was not the intention. The petition was filed by a law firm that has since been terminated,” she concluded, adding, “I filed the petition to resolve any potential uncertainties surrounding the interpretation of the Promenade Trust.”
People magazine acquired documents indicating that Riley would pay Priscilla $400,000 to pay her legal fees and $1 million to settle.
READ ALSO: Riley Keough takes over as sole trustee of Lisa Marie Presley’s estate with Priscilla Presley’s nod
