After dragging on for months, Lisa Marie Presley‘s mom Priscilla and daughter Riley Keough reached an agreement on their ongoing trust battle. Priscilla, via her legal team, filed a petition in Los Angeles four days after Lisa’s memorial in January. The petition questioned the authenticity of the 2016 amendment to the legend’s living trust, which cut off Priscilla and former business manager Barry Siegel as co-trustees in favor of her daughter, Riley, and son Benjamin Keough who died by suicide in 2020.
Months later, legal representatives from both parties seem to reach a settlement at a Los Angeles court on Tuesday, May 19. According to People, Riley’s party would “submit a settlement request under seal, for both the Promenade and an insurance trust.” Speaking to reporters, Priscilla’s lawyer Ranson Shamoon confirmed that the family was happy with the agreement, as were all involved parties. He divulged,
“Everyone is happy, unified, and together and excited for the future.”
Priscilla and Riley Keough Want a Piece of Lisa Marie Presley’s Trust
Prior to reaching a settlement on the trust battle, an insider revealed that Riley Keough and Priscilla Presley remained at loggerheads, with their differing opinions. While Riley opposed the idea of Priscilla butting into the dealings of Lisa Marie Presley’s trust, Priscilla did not want Riley to take sole charge of the trust in her brother’s absence. Another insider revealed that Priscilla’s decision to contest the amendment left her granddaughter saddened and disappointed.
Priscilla claims she had no idea about the 2016 amendment to the trust, which gave Riley and Benjamin control of the Graceland mansion. It also gave her a 15% stake in Elvis Presley Entreprises worth millions. Benjamin’s death three years back ultimately makes Riley the sole trustee. However, complying with Priscilla’s intention to void the amendment would ultimately make Lisa Marie Presley’s mom and daughter co-trustees.
The exact terms of the agreement remain unknown, but the statements from the legal counsel show it benefits both parties and put an end to the brewing family feud. A hearing and motion for approval would take place on August 4, 2023.