Riley Keough To Pay Priscilla Presley $1 Million To Settle Family Trust Dispute
Priscilla Presley and Riley Keough attend an event for the Humane Society in 2016. Jason LaVeris via Getty Images
Riley Keough and Priscilla Presley have finally resolved their trust issues.
Keough settled a six-month trust dispute with Presley by agreeing to pay her grandmother — the former wife of legendary singer Elvis Presley — a lump sum to become the sole trustee of her late mother Lisa Marie Presley’s estate, according to multiple outlets, including the New York Times and USA Today.
Lawyers for both parties sought to keep details private, but the Times reported court documents show a payment of $1 million. The newspaper also reported that the “Daisy Jones & The Six” star agreed to retain Priscilla Presley as a “special adviser” for which she would be paid an undisclosed annual amount for 10 years, or until her death. Keough will also cover $400,000 for her grandmother’s legal fees involving Priscilla Presley’s lawsuit questioning the authenticity of her daughter’s will.
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Lisa Marie Presley died of cardiac arrest in January, leaving her estate to Keough and her 14-year-old twin sisters, Harper and Finley Lockwood.
Keough and Lisa Marie Presley at an Elle event in 2017. Neilson Barnard via Getty Images
The terms of the agreement still need to be approved by a judge in Los Angeles Superior Court. If they are, Keough will be the owner of Graceland mansion — the famed Memphis, Tennessee, home of the “Don’t Be Cruel” crooner — and will receive 15% of Elvis Presley Enterprises, which is funneled into the Promenade Trust, the legal entity that controls Lisa Marie Presley’s estate.
Although Priscilla Presley had been denied a request to be buried next to her former husband at Graceland, the settlement specifies that she will be buried there as near as possible to Elvis. Graceland is also where her daughter, Lisa Marie Presley, was laid to rest.
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Source: HuffPost
