Actress Riley Keough will become the sole trustee for her mother Lisa Marie Presley’s estate and the owner of her grandfather Elvis Presley’s famous Memphis mansion, Graceland, according to court documents obtained by The Washington Post.
In the settlement, she agreed to pay her grandmother Priscilla Presley — the former wife of Elvis Presley — a lump-sum payment, the amount of which was not specified in the court documents.
Keough also agreed to reimburse Priscilla Presley up to $400,000 in legal fees and costs. It will be made at the same time as a separate $1 million payment.the 95-page settlement document, Keough agreed to pay to keep Presley as a “special adviser” to the trust for an unspecified amount for 10 years — or until she passes away.
The actress’s lawyer, Justin Gold, wrote in the filing that the settlement will allow the parties to save “significant legal fees by avoiding litigation, and they are likewise avoiding the spectacle of intrafamily litigation that would have been inimical to Lisa’s wishes and not in the best interests of the family.
Keough first petitioned the court in May to approve a settlement she reached with her grandmother over the estate, which had been the source of much contention with the Presley family, according to the According to Wednesday’s settlement court document, Lisa Marie had appointed her mother, Priscilla, and business manager, Barry Siegel, as co-trustees of the trust in 1993.But when her daughter passed away earlier this year, Priscilla Presley said she found an amendment to her will that replaced her and Siegel as trustees with Keough and her brother, Benjamin Keough, according to the
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