Priscilla Presley Gets Millions in Elvis Money in Settlement with Lisa Marie Trust
Posted on: May 16, 2023, 02:34h.
Last updated on: May 17, 2023, 11:39h.
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 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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Last Comments ( 3 )
How much frickin money do those people need? Graveland is worth $718 million. And everyone is pissed that Priscilla might have gotten a few bucks? Geez It's all too sickening for me to even comprehend. All that money and they're still fighting. I guess by the time the girls are old enough to get their inheritances, PP might be dead and they can guiltlessly sell Graceland.
There would be no Graceland without Priscilla. Elvis left very little money. Lisa would have had nothing. It was Priscilla who turned Graceland into tourist attraction and it has made millions every year. Lisa Marie thanked her Mother in several interviews. After Lisa had spent all of her money Priscilla sold one of her own homes( that she had her Mother living in at the time) and gave the money to Lisa. When Lisa was going through her last divorce the Court was going to put her 8 year old twins in Foster Care because both Lisa and Michael Lockwood were accusing each other of terrible things. Once again, Priscilla stepped up. She took the twins to her home and took care of them so they wouldn’t go into foster care. Michael accused Lisa of using drugs( which apparently was true as she went off to rehab several times). Priscilla took his side and wanted Lisa to get help. She was angry with her Mother for taking her ex husbands side. Priscilla deserves respect for all that she has done to keep Elvis’ memory alive and for keeping Graceland financially solvent. Lisa and her children would have had nothing without Priscilla.
Priscilla had better not try to be buried at Graceland. Memphis will be burning if that greedy, creepy old witch gets to be buried on Presley property. She is not a Presley and has lived long enough off the name. I'm ashamed of the Probate Courts in California. They were wrong to let her have any more money from the Presley name. Who is she sleeping with in the system out there. Gotta be someone. She came to the party and left with a to-go plate. Shame on all of you. You let Priscilla rob the Presley family of Millions of more money once again. Shame on you.