Actress Riley Keough Agrees to Settlement with Priscilla Presley Over Family Trust Dispute

Actress Riley Keough Settles Dispute with Priscilla Presley Over Family Trust

In a recent development, actress Riley Keough has agreed to provide her grandmother, Priscilla Presley, with a lump-sum payment as part of a settlement to resolve a dispute over control of the family trust. Court documents made public on Tuesday reveal that Keough will pay Priscilla Presley $1 million as part of the settlement.

The dispute stemmed from a petition filed by Priscilla Presley earlier this year, challenging the validity of a 2016 document that removed her as an official of the Promenade Trust, established by her daughter Lisa Marie Presley, who passed away in January. With the settlement, Keough will become the sole trustee of the trust.

Additionally, Keough has agreed to cover Priscilla Presley’s legal fees, amounting to as much as $400,000, and retain her as a “special adviser” to the trust for a period of 10 years or until her death, whichever comes first. The terms of the agreement are pending approval by a judge in Los Angeles Superior Court.

The settlement marks the end of months of legal battles between Keough and Priscilla Presley, following the sudden death of Lisa Marie Presley at the age of 54. Priscilla Presley had challenged a 2016 trust amendment that removed her as a trustee, claiming it was invalid and potentially fraudulent.

The Elvis Presley estate, which continues to generate over $100 million annually, is managed through the Promenade Trust. The trust holds a 15 percent stake in Elvis Presley Enterprises and the Graceland estate, making it a valuable asset worth tens of millions of dollars.

The exact details of the settlement, including the lump-sum payment to Priscilla Presley, were redacted from the court documents. However, the agreement also grants Priscilla Presley the right to be buried at Graceland, alongside her former husband, Elvis Presley.

The settlement is set to be formally considered for approval at a hearing scheduled for August 4th. The resolution of this dispute will bring closure to the legal wrangling within the Presley family and ensure the continued management of the Elvis Presley estate.