LOS ANGELES, CALIFORNIA: Lisa Marie Presley's mother and daughter have reached a settlement regarding her multi-million-dollar estate. On Tuesday, May 16, legal representatives for Riley Keough and Priscilla Presley reached an agreement at a Los Angeles courthouse. Riley's side is preparing to submit a request for settlement under seal for an insurance trust and the Promenade.
According to Priscilla's lawyer, Ronsen Shamoon, "They have reached a settlement. The families are happy, everyone is unified and excited for the future." Riley's attorney, Justin Gold, added, "She would not have agreed to the settlement if she were not happy with it." The motion for approval and the upcoming hearing in the case is scheduled for August 4, 2023, as reported by the Daily Mail.
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The battle over Lisa Marie's million-dollar estate
Lisa Marie passed away at the age of 54 in January 2023 following a cardiac arrest. Shortly after her memorial, a legal battle over her trust emerged, beginning in January. Priscilla, Elvis Presley's ex-wife and Lisa Marie's mother, raised concerns about a 2016 amendment to the late singer's living trust, questioning its "authenticity and validity."
The amendment removed Priscilla and Lisa Marie's former business manager, Barry Siegel as cotrustees and granted control of the trust to Lisa Marie's daughter Riley and son Benjamin. The trust encompasses the renowned Graceland mansion and a 15 percent stake in Elvis Presley Enterprises (EPE).
Priscilla contended that the 2016 amendment should be nullified, claiming she was unaware of the change until after her daughter's death. She further asserted that, according to the trust's terms, Lisa Marie had not informed her of the alterations.
'Priscilla doesn't want Riley sole control'
"Lisa wanted Riley and Ben to be the trustees, and she intended for all her children to be beneficiaries of the trust," said a friend of Lisa Marie. If the 2016 amendment is voided in court, Riley and Priscilla would become cotrustees.
"Priscilla doesn't want Riley to have sole control because then she wouldn't have any say. On the other hand, Riley doesn't want Priscilla interfering," shared a family insider with the People. "It's a very unfortunate situation. Riley is surprised that Priscilla is contesting the amendment," added a source close to Riley.