Riley Keough, the granddaughter of Elvis Presley, has reached an agreement with her grandmother Priscilla Presley regarding the family trust. In order to gain control of the trust, Riley, 34, has agreed to pay Priscilla, 78, a sum of $1.4 million. Tensions between the two arose following the passing of Riley's mother Lisa Marie Presley at the age of 54 in January 2023.
Recent reports reveal that Riley paid $1 million to Priscilla to relinquish control of Lisa Marie's estate, along with an additional $400,000 to cover legal fees incurred by Priscilla. These details were obtained by People from official documents. It's worth noting that as a consequence of the conflict, Lisa Marie lost the right to be buried alongside her husband at Graceland, according to The New York Post.
The legal affair
Riley took steps on June 12 to request the court's finalization of the trust arrangement, five months after her mother's death due to multiple cardiac arrests. Her legal team stated that completing the agreement would prevent a public court battle, which was not in line with Lisa Marie's wishes.
While the terms of the deal reached in May remain confidential, this recent development reflects Keough's efforts to take control of the family trust and resolve the disagreements with her grandmother.
'In settling the claims pending in Priscilla's petition, 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,' wrote Keough's lawyer Justin Gold.
Growing stronger as a family
Presley, in a statement provided to The New York Post, clarified the situation and emphasized that she did not file a lawsuit against her granddaughter. She stated, "My family has resolved all confusion as it relates to our plea to the court and request for document interpretation after my daughter Lisa Marie's untimely passing. Although the media identified such a plea as a lawsuit, I want to make clear that there was never any lawsuit filed against my beloved granddaughter."
Presley expressed her satisfaction in reaching a resolution together as a family and requested privacy during their time of grieving and personal bonding. She conveyed gratitude and love to everyone, affirming that the Presley family has grown stronger through this experience.
Wanting a drama-free relationship
In addition to being the sole trustee of Lisa Marie's estate, Keough also holds the responsibility of sub-trusts for her 14-year-old twin sisters Harper and Finley Lockwood. According to her lawyer, Keough intends to invest the funds in a manner that aligns with the needs of the beneficiaries and is not influenced by personal desires as a trustee.
This recent transaction follows the resolution reached in May when Keough and her grandmother came to an agreement. Lawyers for both parties announced the settlement in a Los Angeles probate court.
After enduring a contentious legal battle, Keough expressed a desire for a drama-free relationship with her grandmother. Sources close to the actress revealed that she is relieved to have settled the dispute over her mother's estate and is still grieving the loss of her mother, who tragically passed away at the age of 54 due to cardiac arrest at her Calabasas home in January.
During the period of legal conflict, Keough had hoped for a swift resolution. The tension with Priscilla has taken a toll on Keough, who is now prioritizing making cherished memories with her own daughter as she recently became a mother to a baby girl with her husband Ben Smith-Petersen.
