Priscilla Presley settles dispute over Lisa Marie’s estate
Priscilla Presley settles dispute over Lisa Marie’s estate
Priscilla Presley is no longer beefing with her granddaughter Riley Keough. They just settled their dispute over Lisa Marie’s trust.
Priscilla and Riley’s legal teams were in court Tuesday where they reached a settlement over who controls Lisa’s trust, which reportedly includes the Graceland mansion and a stake in the lucrative Elvis Presley Enterprises.
Lisa Marie Presley passed away unexpectedly in January of 2023.
According to sources for TMZ, Lisa Marie’s estate paid an undisclosed sum of money to Priscilla to settle the dispute. The outlet claims their sources say the dollar amount is in the millions.
Priscilla’s attorney announced the settlement outside the courtroom after the hearing, saying “The families are happy. Everybody is happy and excited for the future.”
Questioning the amendments
Priscilla questioned the validity of the amendment. She claimed it was never delivered to her, the document misspelled her name, the date on the document was suspicious, and Lisa Marie’s signature appeared “inconsistent with her usual and customary signature.”
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A trust battle broke out in the wake of Lisa Marie’s death back in January, with her mom Priscilla challenging an amendment to Lisa Marie’s trust, which eliminated both Priscilla and Lisa Marie’s former manager Barry Siegel as trustees leaving Riley as the sole trustee.
A legal battle with former manager
Lisa Marie Presley first filed a $100 million lawsuit against Barry Siegel in February 2018 claiming that he treated her trust fund with “recklessness and negligence” in choosing investments to ensure the trust would last.
According to earlier reports, Lisa Marie was also in a drawn-out legal battle with her former manager, whom she fired years prior to her passing.
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She also claimed that he “enriched himself with exorbitant fees” and paid himself a salary of more than $700,000 per year. However, Siegel believed something different.
Siegel later counter-sued Lisa Marie for $800,000 in unpaid management fees and alleges that her financial woes stem from “uncontrollable spending habits” adding that she “squandered” her father’s fortune.
At the time of her passing, it was unclear to the public whether their case was quietly settled or still in the process of being settled.
