In a touching turn of events, Priscilla Presley has announced the resolution of a previously contentious dispute concerning the estate of her late daughter, Lisa Marie Presley, who passed away earlier this year.
This agreement was reached with her granddaughter, marking a significant moment for the family.
Tuesday brought news from the courtroom, as legal representatives for both Priscilla Presley, aged 77, and her granddaughter Riley Keough, aged 33, revealed to a judge their reached settlement regarding the control of Lisa Marie Presley’s trust.
The conflict arose when Priscilla contested a will that positioned Keough at the helm of the trust’s management.
Clarifying her stance, Priscilla expressed in a statement that her challenge was not aimed at her granddaughter but sought legal clarification and document interpretation.
“This was about coming together as a family and making peace with the situation,” she stated, emphasizing the unity and desire for privacy as they mourn and spend crucial time as a family unit.
The specifics of the trust, which encompasses the vast legacy of Elvis Presley, remain undisclosed to the public.
However, it is known that Priscilla played a pivotal role in rescuing Elvis’ estate from financial peril and sought to continue her stewardship over the trust, as indicated by her legal filings earlier in the year.
While the particulars of their agreement remain private, it is known that an amendment made in 2016 had shifted the trusteeship from Priscilla and business manager Barry Siegel to Keough, sparking the initial dispute.
Priscilla’s challenge centered on her lack of notification regarding her removal as trustee and questioned the legitimacy of the amendment to her daughter’s will—specifically pointing out discrepancies in the signature purported to be Lisa Marie’s and the presence of the signature on a blank page not detailing the amendment.
Notably, the amendment also listed Lisa Marie’s son, Benjamin Keough, as a trustee until his untimely death in 2020.
Graceland Mansion, the former residence of Elvis Presley located in Memphis, Tennessee, stood as a significant asset solely owned by Lisa Marie.
This 13-acre estate has since been transformed into a major tourist attraction, showcasing a vast collection of Elvis’ personal belongings.
