The legal fight over Lisa Marie Presley’s estate ended Tuesday in a settlement between Priscilla Presley and Riley Keough.
Keough, 33, was given control of a trust worth tens of millions of dollars after her mother’s death in January. Priscilla, 77, filed a challenge a few weeks later, arguing that a 2016 amendment that cut her out of the trust was illegitimate.
The two sides settled Tuesday in Los Angeles County Superior Court, and Keough will seek to keep the deal under seal, according to People magazine.
“Everyone is happy. Unified and together and excited for the future,” Priscilla’s lawyer, Ronsen Shamoon, told reporters outside the courthouse.
Lisa Marie’s estate was publicly valued at $35 million. It also included control of the Promenade Trust, which manages Graceland and has a 15% stake in Elvis Presley Enterprises, two business concerns that generated a reported $110 million in 2022 alone.
The trust was created in 1993, and Lisa Marie initially named Priscilla and former business manager Barry Siegel as co-trustees.
But in 2016, Lisa Marie apparently amended the trust to name her children with musician Danny Keough — Riley and Benjamin — as co-trustees instead. Benjamin died by suicide in 2020, meaning Riley would have had full control of the trust.
Priscilla claimed that the amendment was fishy, alleging that her name was misspelled and Lisa Marie’s signature “appears inconsistent with her usual and customary signature.” She also said she was never notified of the change, which was required under the rules of the trust.
Keough was reportedly stunned by her grandmother’s legal filing.
“It’s a very sad situation,” a source close to the actress told People. “Riley is shocked Priscilla is contesting the amendment.”
One of Lisa Marie’s friends also claimed Priscilla had been intentionally removed from the trust.
“I can assure you, in the last seven years of Lisa’s life, she never discussed with Priscilla any business,” the pal told People. “Lisa wanted Riley and Ben to be the trustees.”