Priscilla Presley and granddaughter Riley Keough agree huge settlement after Lisa Marie’s death
Posted by  badge Boss on Nov 02, 2023 - 09:40PM
Lisa Marie Presley’s estate has been settled between Priscilla Presley, Riley Keough, and the family (Picture: Axelle/Bauer-Griffin/FilmMagic)

The extent of ’s settlement with her granddaughter after a lengthy legal battle had been revealed.

, 34, was named as belonging to her late mother, , who from cardiac arrest, aged 54.

’ daughter’s will had thrown the relationship of , 78, and Riley l after she disputed the ‘authenticity and validity’ of an amendment made to the late star’s living trust.

This amendment had removed Priscilla as trustee and replaced her with and her brother Benjamin, who died in 2020.

After 10 months, the bitter family dispute was brought to an end with Riley named as the owner of Elvis’ Graceland mansion in Memphis, Tennesse.

Recently, a Los Angeles Superior Court judge officially approved the settlement which will see a lump sum given to ex-wife Priscilla.

Priscilla and Riley had become estranged before the financial dispute (Picture: Jason LaVeris/FilmMagic)
Elvis’s home Graceland will be managed by Riley with Priscilla as a special advisor (Picture: Bettmann Archive)

The actress initially reached an agreement with her grandmother in August but the documents acquired by are said to be un-redacted pages of the final settlement.

It claims Priscilla, who in 1973, will receive a $1million (£824k) lump-sum payment which is funded by Lisa Marie’s life insurance policy.

On top of this, she will act as special advisor of the promenade trust related to its shareholder interest in Elvis Presley Enterprises, a non-fiduciary role.’

With this role comes monthly payments of $100k (£82k), guaranteed for the next 10 years regardless of whether Riley removes Priscilla from this position.

The family were seen together at the Elvis premiere before Lisa Marie’s death (Picture: FilmMagic)
The ex-wife of Elvis will be buried next to him when she dies (Picture: Daniele Venturelli/WireImage)

Her son Navarone Garibaldi, who is the half brother of Lisa Marie, is also listed as a beneficiary of the estate.

In a hugely emotional agreement detail, Priscilla will also be buried next to her late ex-husband when her time comes.

Riley will also preside over the sub-trusts from the estimated $500 million (£410 million) estate, which are held for her half sisters Harper and Finley – the daughters of Lisa Marie and her fourth husband, Michael Lockwood.

Her brother Benjamin was named in the amendment, which was thought to be made in 2016, but in 2020, aged 27.

The legal action disputed this amendment, with Priscilla’s attorneys claiming she had not been aware of the change until after Lisa Marie’s death.

Riley is the sole trustee of her mother’s estate (Picture: PA)
Riley had been supportive of her mum throughout her custody battle with Michael Lockwood (Picture: Evan Agostini/Getty Images)

The authenticity of her daughter’s signature was questioned along with the validity of other changes.

Discontent emerged between the family when Lisa Marie split from ex-husband Michael Lockwood, with Riley supporting her mother and Priscilla siding against her.

A custody battle over the couple’s twin children Harper and Finley ensued, with the divorce stretched out from 2016 20 2021.

Priscilla flew to Lisa Marie’s funeral with Michael, said to increase the tension with her granddaughter but they did attend the premiere for the Elvis biopic starring Austin Butler together.