What happened between Priscilla and Riley?
On January 25, Priscilla Presley, 78, contested her late daughter’s will. She had been removed as the sole trustee of Lisa Marie’s estate. Despite contests, Riley Keough has been named sole heir to her late mother’s estate.
3 months ago, Riley settled the court battle over Lisa Marie‘s estate with her grandmother according to reports.
Consequently, Supreme Court Judge Lynne Healey Scaduto ruled in the 34-year-old’s favour. Naming Keough as the sole trustee.
Additionally, Keough will now oversee the trust for her 14-year-old twin sisters Harper and Finley.
Subsequently, Riley had retained sole ownership of her grandfather’s estate Graceland. The estate her mother inherited after her father’s death in 1977.
Credit Image: Pascal Le Segretain/Getty Images
However, Priscilla cited the 2016 amendments as a forgery. It is alleged that the documents were not properly notarised.
“Riley and Priscilla are at peace in their relationship after the very stressful ordeal over Lisa Marie’s trust and estate,” a source told Us Weekly.
“There was a lot of back and forth, but they reached a middle ground that makes them both happy,” according to sources.
Credit Image: Getty Images for Festival of Arts
Priscilla released a statement of her own to clear up some matters.
“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.”
“I want to make clear that there was never any lawsuit filed against my beloved granddaughter,” she said.
Priscilla ended by saying, “As a family, we are pleased that we resolved this together.”
What was the agreement between Priscilla Presley and Riley Keough?
Previously Riley, 34, and Priscilla, 78 had reached an agreement in May.
Lawyers for the pair said, “that the terms of the settlement would be kept confidential.”
Of course, documents obtained by People, revealed the final ruling by the courts.
Subsequently, Riley had to give $400,000 to Priscilla for legal fees and costs.
This will come “at the same time as the one million payments as stated in Paragraph 6 of this Agreement,” the source said.
Additionally, Riley is to issue the payment “after receiving the proceeds of her mother’s life-insurance policy,” as stated in the documents.
Finally, the above payment “shall be made within 10 days after Riley’s receipt of the life insurance proceeds.”
Also, Riley’s attorney Justin Gold made a statement.
“In settling the claims pending in Priscilla’s Petition, the parties are saving significant legal fees by avoiding litigation.”
Also, adding that “they are likewise avoiding the spectacle of intra-family litigation that would have been against Lisa’s wishes and not in the best interests of the family.”
Published by HOLR Magazine