Riley Keough reportedly settled on paying her grandmother Priscilla Presley’s legal fee along with the settlement amount agreed upon in their legal battle over Lisa Marie Presley’s estate.
According to court documents obtained by People Magazine, the Daisy Jones & The Six star, 34, will be giving Priscilla, 78, a $1 million lump-sum payment in addition to another $400,000 to cover her legal fees.
In a 95-page filing, the documents state that a $400,000 payment Riley is to give Priscilla for legal fees and costs will come “at the same time as the one million payment as stated in Paragraph 6 of this Agreement,”
The aforementioned clause mentions that the amount which “shall be made within 10 days after Riley’s receipt of the life insurance proceeds.”
Riley will now be the sole trustee of the Elvis Presley’s Graceland estate as she petitioned the court to approve last month’s settlement agreement in documents filed Monday in Los Angeles.
Per the documents, Priscilla, 78, was officially removed as Trustee of the estate on May 11th, 2023, and that the change will remain in place whether Riley’s petition is approved or not, as Priscilla signed a settlement agreement.
According to Riley’s lawyer, Justin Gold, the estate will be saving money if the court approves Riley since she will not charge for her services as a trustee; therefore, “the beneficiaries all save money that would have gone to Priscilla who was going to charge a trustee fee.”
The lawsuit was first filed by Priscilla, two weeks following the death of her daughter, Lisa Marie Presley, in January, in which she challenged the legitimacy of the 2016 amendment in her late daughter’s will that left Riley in-charge and ousted her and business manager Barry Siegel as trustees.