Priscilla Presley, Riley Keough Settle Legal Battle Over Lisa Marie’s Will
Priscilla Presley and Riley Keough have reached a settlement over the estate of Lisa Marie Presley, CNN reports.
Lawyers for Priscilla (Lisa Marie’s mother) and Keough (Lisa Marie’s daughter) announced the agreement at a court hearing in Los Angeles Tuesday, May 16. Details of the agreement were not divulged, and the settlement request itself will be submitted under seal. The motion must be filed by June 12, while a follow-up hearing has been scheduled for Aug. 4.
The dispute — which emerged just a few weeks after Lisa Marie’s sudden death earlier this year — centered around an amendment in Lisa Marie’s living trust, which Priscilla claimed was “invalid.” The document, dated March 11, 2016, reportedly sought to remove Priscilla and former business manager Barry Siegel as co-trustees of her daughter’s Promenade Trust and name Keough and her now-deceased brother, Benjamin, as co-trustees.
Priscilla, however, argued that the document was “never delivered” to her during Lisa Marie’s lifetime, as required by “express terms” of the trust agreement. They also argued its validity was dubious because the amendment misspelled Priscilla’s name, wasn’t witnessed or notarized, and that “Lisa Marie’s signature appears inconsistent with her usual and customary signature.”
In a statement shared with Rolling Stone, Priscilla said, “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. As a family, we are pleased that we resolved this together. My family and I hope that everyone will grant us the privacy we have needed to properly grieve Lisa Marie and spend personal time together. We love and appreciate all of you and the Presley family is stronger than ever.”
After the hearing where the settlement was announced, Priscilla’s attorney, Ronson J. Shamoun, told reporters, “The families are happy. Everyone is happy, unified, together and excited for the future.” Keough’s lawyer, Justin Gold, added that Keough is “very content” with the agreement.
The Promenade Trust is a major beneficiary of the big business that is the Elvis Presley estate. The Trust retains a 15 percent interest in Elvis Presley Enterprises, the company that controls Graceland and the licensing of Elvis’ intellectual property. (As Rolling Stone previously reported, in 2005, Lisa Marie sold the other 85 percent of the trust, netting about $40 million after taxes and retaining ownership of Graceland and Elvis’ possessions, including his clothes, cars, and musical instruments.)
While the dispute appears to have been settled swiftly and amicably, there certainly was potential for it to become a contentious battle between grandmother and granddaughter. But Priscilla insisted she always acted with her family’s interests in mind.
A few weeks after Priscilla filed the court documents, she issued a statement on what would’ve been Lisa Marie’s 55th birthday saying, “My wish is to protect my three grandchildren and keep our family together. From the first moment I held Lisa in my arms, I’ve protected, loved and guided her, as I have my son. Our hearts are broken, and I am having to learn to live without my only daughter.”