One more chapter in the family dispute of Elvis Presley . Actress Riley Keough, star of “Daisy Jones & The Six,” has agreed to provide Priscilla Presley, her grandmother and ex-wife of the King of Rock and Roll, a lump sum payment as part of an agreement that will resolve a dispute over the fund of the Presley family following the death of their only child, Lisa Marie, in January. The information is from the newspaper “The New York Times”, based on court documents made public this Tuesday (13).
Lawyers for both parties have tried to keep details of the settlement under wraps, but the documents list what appears to be a $1 million payment. In the suit, Keough also agreed to pay up to $400,000 (R$1,938,240) to cover Priscilla’s legal fees related to the petition she filed earlier this year, contesting the validity of a 2016 document that removed her as a official of the family entity, the Promenade Trust.
With the agreement, the actress will become the sole administrator of this financial instrument established by her mother.
Among the agreements is also the decision to retain Priscilla Presley as a “special adviser” to the trust, for which she would receive an undisclosed annual sum for ten years, or until her death, whichever comes first. The terms still need to be approved by a judge at the Los Angeles Superior Court, where they were filed.
The documents further say that in exchange for Priscilla’s resignation from the Promenade Trust, the “Daisy Jones” star would issue the payment after receiving the proceeds from Lisa Marie Presley’s life insurance policy.
“By resolving the pending claims in Priscilla’s petition, the parties are saving significant attorney fees, avoiding litigation and, likewise, avoiding the spectacle of intra-family litigation that goes against Lisa’s wishes and the family’s interest,” the file states.
The deal, if approved, would end months of legal dispute between Riley Keough and Priscilla Presley – granddaughter and grandmother.
understand the case
Shortly after Lisa Marie’s sudden death in January of this year, her mother and Elvis’ ex-wife filed court documents contesting a 2016 amendment to the Promenade fund, allegedly authorized by her daughter, which removed Priscilla and the former business manager from family, Barry Siegel, as trustees.
The amendment also designated brothers Riley and Benjamin Keough as co-trustees in the case of Lisa Marie’s death – Benjamin died in 2020 at age 27.
At the time, Priscilla’s lawyers argued that the amendment was invalid, saying it was never given to her while Lisa Marie was alive, as required by the language of the trust.
Court documents also alleged that the amendment was potentially fraudulent, stating that Lisa Marie’s signature was “inconsistent” with her usual handwriting. In the current fight, Priscilla asks the court to recognize her as a trustee.
At a hearing last month, lawyers for the “Daisy Jones & The Six” actress and Elvis’ ex-wife announced that the parties had reached an agreement, but did not publicly describe it. A hearing was set for August 4 to formally consider it for approval.
The Elvis brand earns more than US$ 100 million (R$ 481 million) a year. The Presley family’s share of these earnings is funneled to the Promenade Trust, which retains 15% of Elvis Presley Enterprises and the main house at Graceland in Memphis, Tennessee (USA), making it worth tens of millions of dollars.
The exact amount of the fixed payment that Priscilla must receive was written in two instances of court documents made public on Tuesday (13). But a paragraph discussing Riley Keough’s role in collecting attorney fees associated with the dispute said they would be paid at the same time as a “$1 million dollar payment” mentioned earlier in a paragraph discussing a lump sum.
The deal also gives Priscilla Presley the right to be buried at Graceland, near her ex-husband.
Source: CNN Brasil
I’m Robert Neff, a professional writer and editor. I specialize in the entertainment section, providing up-to-date coverage on the latest developments in film, television and music. My work has been featured on World Stock Market and other prominent publications.
