News

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.

Alex Nguyen

Share
Published by
Alex Nguyen

Recent Posts

Lorde Prepares For 2025 ‘Ultrasound’ Tour – Setlist & Ticket Info

Lorde will be joined on select dates by artists The Japanese House, Chanel Beads, Empress…

4 hours ago

After Trump Is Reminded He Called Sean Combs ‘A Good Friend,’ Rapper 50 Cent Vows To Stop President From Pardoning Him

Rapper 50 Cent vowed to stop President Donald Trump from pardoning Sean Combs. During a…

4 hours ago

Sir Ian McKellen Set To Open ‘Twelfth Night’ Adaptation With All Trans & Non-Binary Cast

Lord of the Rings star Sir Ian McKellen is set to open Trans What You…

5 hours ago

Disneyland Plans To Bring Walt Disney Alive As Animatron – Despite Protests From His Family

The July 17 debut of Walt Disney – A Magical Life will coincide with Disneyland’s…

10 hours ago

Prince Harry Considers Changing His Famous Surname – And Taking Late Mother Diana’s

Mountbatten-Windsor is the British royal family’s official surname used by some descendants of the late…

10 hours ago

Ben Stiller Reacts To Pat McAfee’s ‘Weird’ Commentary At Knicks-Pacers Game

Ben Stiller said sports analyst Pat McAfee had “weird” commentary at a basketball game. The…

11 hours ago