Riley Keough to Pay Priscilla Presley to End Family Trust Dispute
The actress Riley Keough has agreed to provide Priscilla Presley, her grandmother and the former wife of Elvis Presley, with a lump-sum payment as part of a settlement that will resolve a dispute over control of the family trust, according to court documents made public on Tuesday.
Lawyers for the parties had sought to keep details of their agreement confidential, but the papers list what appears to be a payment of $1 million.
In the 95-page filing, Ms. Keough also agreed to pay as much as $400,000 to cover Ms. Presley’s legal fees related to the petition Ms. Presley filed earlier this year, challenging the validity of a 2016 document that removed her as an official of the entity known as the Promenade Trust. With the settlement, Ms. Keough will become the sole trustee of that financial instrument established by her mother, Lisa Marie, who died in January.
Ms. Keough also agreed to retain Ms. Presley as a “special adviser” to the trust, for which she would be paid an undisclosed annual amount for 10 years, or until her death, whichever came first.
Source: The New York Times
