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Riley Keough, Lisa Marie Presley’s daughter, and her grandmother Priscilla Presley came to an arrangement about a month ago, and Riley Keough now officially has control over her mother’s multimillion-dollar fortune. Riley, 34, asked the court in filings filed in Los Angeles to approve the settlement over the estate, according to records obtained by the news source PEOPLE.
“The beneficiaries all save money that would have gone to Priscilla who was going to charge a trustee fee,” Riley’s lawyer Justin Gold said in the documents. “In settling the claims pending in Priscilla’s Petition, the parties are saving significant legal fees by avoiding litigation, and they are likewise avoiding the spectacle of intra-family litigation that would have been inimical to Lisa’s wishes and not in the best interests.”
Her 14-year-old twin sisters Harper and Finley Lockwood are now under Riley’s care as well. Riley will invest the funds, in accordance with Gold’s words, “in a manner consistent with the needs of the beneficiaries, and not influenced by the desire of a Trustee.”
On May 11, Priscilla, 78, reportedly lost her position as Lisa’s estate trustee. She will, however, serve as Trustee of the sub-trust for both the late Lisa’s half-brother and her son Navarone Garibaldi. One-ninth of the Trust will be given to Garibaldi, with the remaining shares going to Riley, Finley, and Harper. For the trust, Priscilla will get a lump sum payment at a single time. The sum is still kept secret.
When Priscilla and Riley reached their agreement in May, according to Priscilla’s legal team, Priscilla declared that the “Presley family is stronger than ever.” “They have come to an agreement. Families are content, according to Priscilla’s attorney Ronson Shamoun. “Everybody is content. united, cooperative, and enthusiastic about the future. If Riley had been unhappy with the deal, she would not have consented to it, Gold continued.
Priscilla and Lisa were together at several events, including the premiere of Austin Butler’s Elvis movie, but according to several sources, they were not speaking prior to Lisa’s passing. When it came to Michael [Lockwood], Riley was always on her mother’s side, a source claimed. She was upset because Michael and her grandma flew to Lisa Marie’s burial.