Priscilla Presley Gets Millions in Elvis Money in Settlement with Lisa Marie Trust
Posted on: May 16, 2023, 02:34h.
Last updated on: May 16, 2023, 02:49h.
Priscilla Presley, ex-wife of the late Elvis Presley, has settled a dispute with her own granddaughter, Riley Keough, over the late Lisa Marie Presley’s will. According to TMZ, a settlement “in the millions” was struck by legal teams representing Presley and Keough in an LA courthouse hearing on Tuesday.
Lisa Marie, the only child of the late rock legend, was the sole beneficiary of a trust that included the Graceland mansion and 15% of the lucrative Elvis Presley Enterprises. In 1993, she appointed her mother and then business manager, Barry Siegel, as co-trustees.
When Lisa Marie died suddenly of cardiac arrest on January 12 at age 54, Priscilla, who divorced Elvis four years before his 1977 death, said she discovered a 2016 amendment to the trust removing both her and Siegel and replacing them with Lisa Marie’s eldest children, Riley Keough, 33, and Benjamin Keough, who died in 2020 at age 27.
Lisa Marie fired Siegel in 2018, suing him for alleged financial mismanagement that left her more than $16 million in debt that year, according to the LA Times. Siegel countersued, accusing Presley of owing him money.
Following Lisa Marie’s funeral in January, Priscilla challenged the validity of the trust’s 2016 amendment in court. Her filing claimed it wasn’t made by her daughter, since the signature didn’t match Lisa Marie’s and was neither witnessed nor notarized. She also claimed the amended trust wasn’t delivered to her while her daughter was alive, as the trust required, and that it even misspelled Priscilla’s first name.
The families are happy,” Priscilla’s attorney, Ronson J. Shamoun, told reporters outside the courthouse. “Everyone is happy, unified, together, and excited for the future.” Justin Gold, attorney for Keough, told CNN her client “is very content.”
Attorneys for both parties said they plan to file a motion to seal the settlement agreement. Their deadline to do that is June 12.
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