Riley Keough To Pay Grandmother Priscilla Presley $1 Million To Settle Family Trust Lawsuit

Riley Keough will pay her grandmother, Priscilla Presley, a $1 million lump-sum payment as a settlement that will mark the end of the battle over the estate of her late mother Lisa Marie Presley.

In addition, Keough, 34, has agreed to pay $400,000 to cover Priscilla’s legal fees after her grandmother, 78, petitioned a judge to reject a 2016 amendment to their living trust as “invalid.”

The legal dispute began just a few weeks after Lisa Marie’s death earlier this year. Because she did not make a will, her living trust was made responsible for dealing with her assets. The debate focused on an amendment that took Priscilla and her former manager Barry Siegel off as co-trustees of Lisa Marie’s Promenade Trust and made Keough and her deceased brother, Benjamin, the co-trustees.

Priscilla, who is Elvis Presley’s former wife, will receive an unknown yearly payment for 10 years.

In the court documents, Justin Gold, Keough’s attorney, wrote, “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.”

Due to Benjamin’s death, Keough will be the sole trustee of her mother’s estate. She will also be in charge of the sub-trust for her 14-year-old twin sisters Harper and Finley Lockwood.

Priscilla will serve as the trustee of the sub-trust of her son and Lisa Marie’s half-brother, Navarone Garibaldi, who will receive 1/9 of the trust. The remaining assets will be split among Keough, Harper and Finley.

The Elvis brand reportedly earns over $100 million a year. All of the Presley family’s share of the money goes through the Promenade Trust.