It’s OVER! Priscilla Presley and Riley Keough reach a settlement in bitter family feud over Lisa Marie’s multi-million dollar estate
- Lawyers for Priscilla and Riley announced Tuesday at a Los Angeles probate court that the two had ‘reached a settlement’
- ‘Priscilla is happy,’ her attorney Ronson Shamoun told DailyMail.com ‘The families are happy and unified and together and excited for the future’
- Riley, 33, was reportedly furious when her grandmother went to court to protest the will after Lisa Marie’s death
The bitter family feud between Priscilla Presley and her granddaughter Riley Keough over the multi-million dollar estate of late Lisa Marie Presley is over.
Lawyers for Elvis’ widow and Riley – star of the hit Prime TV series Daisy Jones and the Six – announced Tuesday at a Los Angeles probate court that the two had ‘reached a settlement.’
‘Priscilla is happy,’ her attorney Ronson Shamoun told DailyMail.com ‘The families are happy and unified and together and excited for the future.’
Asked if Riley too was happy with the settlement, her attorney Justin Gold told DailyMail.com, ‘She would not have agreed to the settlement if she was not happy with it.’
Lawyers for Priscilla Presley and Riley Keough announced Tuesday at a Los Angeles probate court that the two had ‘reached a settlement’
Riley, 33, was reportedly furious when her grandmother went to court to protest the will after Lisa Marie’s death
Riley always supported her mother during her drawn out, often nasty divorce and child custody disputes with her fourth husband, musician Michael Lockwood, 61, father of Lisa Marie’s twin, 14 year-old daughters, Finley and Harper
Only two weeks after Lisa Marie’s death in January at the age of 54, her mother Priscilla filed a legal challenge to her daughter’s will – which gives control of Lisa Marie’s wealthy Promenade Trust to her daughter Riley.
Riley, 33, who was reportedly furious when her grandmother went to court to protest the will, did not file an objection to Priscilla’s challenge.
And on Tuesday it became clear why: she and her grandmother had buried the hatchet and settled their differences.
It’s unlikely that the terms of their settlement will become known to outsiders. After announcing to LA Superior Court Judge Lynn Scaduto that there was an agreement between the two, Gold added that he planned to file a motion to seal the details of the settlement to keep them from the public eye.
The lawyers also declared in court Tuesday that the women had reached a settlement on a second trust involving Lisa Marie’s insurance policies – thought to total $35million.
Judge Scaduto scheduled a hearing August 4 for the court to give official approval of both settlements.
Riley always supported her mother during her drawn out, often nasty divorce and child custody disputes with her fourth husband, musician Michael Lockwood, 61, father of Lisa Marie’s twin, 14 year-old daughters, Finley and Harper.
It’s been reported that Priscilla and Lisa Marie were ‘barely speaking’ just before the latter’s death after Priscilla sided with Lockwood over custody of the twins.
Just days after Lisa Marie’s memorial service, Priscilla filed a petition questioning the ‘authenticity and validity’ of her trust
Last month, a judge granted Lockwood’s petition to be appointed ‘guardian ad litem’ of Harper and Finley
The will contains the rights to the Graceland mansion (pictured) and a 15 percent stake in Elvis Presley Enterprises
Multiple sources told People that the mother and daughter were not on speaking terms, despite appearing at multiple events together, including the premiere for the Elvis biopic starring Austin Butler.
‘Riley was always on her mom’s side when it came to Michael (Lockwood),’ one source told the magazine. ‘It bothered her that her grandmother and Michael flew to (Lisa Marie’s) funeral together.’
Priscilla also helped Michael get into the ceremony at Elvis’s famous home, Graceland, despite her late daughter’s wishes.
‘Michael was not invited,’ a close friend of Lisa Marie told People. ‘He came to Memphis under the pretense that he had to chaperone the twins – and he forced his way in with Priscilla’s help.
‘The last thing Lisa Marie would have wanted was for Michael to be there.’
The rift between Riley and her grandmother began when Priscilla went to court – just days after Lisa Marie’s memorial service – to dispute her daughter’s decision in 2016 to change her will, remove Priscilla and her ex-manager Barry Siegel as trustees and replace them with Riley.
The will contains the rights to the Graceland mansion and a 15 percent stake in Elvis Presley Enterprises. Lisa Marie also had two life insurance policies, one believed to be worth $25million and another one for $10million.
As well as replacing Priscilla as a trustee and cutting her out of the will, Lisa Marie’s 2016 amendment also named Riley’s brother Benjamin as the other trustee. But Benjamin committed suicide in 2020 leaving Riley as sole named heir.
Priscilla’s challenging petition to the court questioned the ‘authenticity and validity’ of the trust, claiming that Lisa Marie’s signature was ‘inconsistent,’ and asked to be restored as a trustee.
The grandmother of four also claimed she was not aware Lisa Marie had changed the trust in 2016 until after her daughter passed away.
If Priscilla’s petition were granted, she and Riley would be made co-trustees of Lisa Marie’s estate.
Last month, Judge Scaduto granted Lockwood’s petition to be appointed ‘guardian ad litem’ of Harper and Finley – allowing him to represent the girls over their mother’s hotly-contested estate.
Harper and Finley are both beneficiaries of Lisa Marie’s trust while their father Lockwood is not.
But being declared their legal guardian gives him control over his daughters’ inheritance – at least until they reach adulthood at 18 – and his second chance to share in the Presley wealth after his first ended in a big fat zero in his divorce
Riley honored her late mom on the first Mother’s Day since since her passing, posting a photo of her mom and father, Danny Keough, 58, holding her as a newborn. ‘Lucky to have had the best and most deeply loving mama I could ask for’
Michael Lockwood and Lisa Marie spent years fighting about finances and were still negotiating up until her death
Lisa Marie – Elvis’ only child – filed for divorce from Lockwood in 2016 after 10 years of marriage. The two spent years fighting about finances and were still negotiating over child support for the twins up until her death.
Lockwood asked the divorce court in 2018 to order Lisa Marie to pay him $263,000 a year in spousal support so that he could ‘enjoy a lifestyle closer to my marital status of living’ – which included lavish entertaining, expensive vacations and flying on private jets.
And he tried to persuade the judge to tear up a post-nuptial agreement – in which he and Lisa Marie both signed away their rights to the other’s property and spousal support if they divorced.
But Lockwood ended up on the losing end, not getting a penny from Lisa Marie after openly admitting that he hadn’t read the post-nup and claiming his attorney at the time failed to explain it to him.
The judge upheld the post-nup and threw out Lockwood’s case, telling the court: ‘If Lockwood elected not to read the post-nup and accept the consequences that it would be upheld, that is his choice.’
Before her death, Lisa Marie and her ex were sharing custody of Finley and Harper and she was reportedly paying him $6,000 a month in child support.
But Lockwood – who is now re-married to hair stylist Stephanie Hobgood – was claiming $40,000 a month, insisting Lisa Marie had much more money than she revealed in court documents and saying his legal battles over the divorce and child custody had cost him more than $1 million.
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