The Presley family have reached settlement agreement over the dispute concerning Lisa Marie Presley’s estate.
Lisa Marie (Priscilla’s daughter and Riley’s mother), died suddenly in January of 2023, after suffering a cardiac arrest.
Less than two weeks after her death, Priscilla filed a court order questioning the “authenticity and validity” of Lisa Marie’s will, of which Riley was made the sole trustee in 2020.
The move, which left fans questioning if the court proceeding is anything more than formality, or a sign of something more sinister between Priscilla and Riley, seems to have finally reached a resolution.
“The parties would like to report that they’ve reached a settlement,” Ronson J. Shamoun, Priscilla Presley’s attorney, told Judge Lynn Scaduto at a court hearing in Los Angeles.
“The families are happy,” Shamoun told reporters outside court. “Everyone is happy, unified, together and excited for the future.”
Now that the dispute seems to have been solved, we’re taking a look back at what may have caused the drama to in the first place.
To understand today’s drama, we have to venture into the past. Below, everything we know about the alleged feud, from 1977 until now.
What Did Lisa Marie Presley Inherit From Elvis?
As the sole child of the late singer Elvis, Lisa Marie inherited his impressive fortune in 1977, when she was just nine. This included his Graceland property, as well as a stake in his wider estate, which in 2020 was reportedly estimated to have grown to be worth between US$400 million and $US500 million.
At the time of Elvis’s death however, his estate was said to only be worth about US$5 million, and it was ex-wife Priscilla who stepped in as executor to rebuild his fortune. She did this by setting up Elvis Presley Enterprises, and turning Graceland into the tourist attraction it is today.
By the time Lisa Marie turned 25 and was eligible to inherit the estate, it was reportedly worth approximately US$100 million.
What Did Lisa Marie Leave Behind In Her Estate?
After assuming legal control of the fortune, Lisa Marie appointed her mother, Priscilla, and business manager Barry Siegel to oversee her inheritance as co-trustee of the estate. In this role, however, Siegel sold 85 per cent of the trust’s interests in Elvis Presley Enterprises, in turn sending Lisa Marie into debt by 2015.
Lisa Marie sued Siegel in 2016 for mishandling her fortune, which he denied.
That same year, Lisa Marie quietly removed Priscilla and Barry as co-trustees, appointing instead her two eldest children, Riley and Benjamin. When Benjamin died in 2020, Riley became sole trustee.
Why Has Priscilla Presely Filed A Court Petition Against Lisa Marie’s Estate?
Priscilla’s lawsuit will challenge the 2016 amendment to Lisa Marie’s estate, citing inconsistent signatures and names being misspelt as evidence, per The Los Angeles Times. Priscilla is also arguing that the amendment “was never delivered to [her] during Lisa Marie Presley’s lifetime as required by the express terms of the Trust.”
Speaking to People at the time of filing, Los Angeles-based attorney David Esquibias said, “For some reason, Priscilla doesn’t want Riley to act as trustee without her. The 2010 trust permits Priscilla and Riley to act as co-trustees. The 2016 trust permits Riley to act as trustee alone. Priscilla doesn’t like this.”
Has Anyone Commented On The Court Proceedings?
Per ET Online, Joel Winshanker, a Managing Partner of Elvis Presley Enterprises appeared on SiriusXM’s Elvis Radio, saying Lisa Marie had been “very, very quite certain and quite direct” about who would be in charge of the estate.
“There was never a question in her mind that [Riley and Benjamin] would be the stewards, that they would look at it exactly the way she did. Obviously, when Ben passed, it really sat with Riley…” he continued.
Winshanker went on to say, “There was never a question, and anybody who’s speaking differently isn’t looking out for Elvis, isn’t looking out for Lisa, certainly isn’t looking out for Riley.”
Are Riley Keough And Priscilla Presley Feuding?
Despite taking legal action, Priscilla Presley has insisted there’s no truth to the rumours of a feud between her and her granddaughter.
According to the Mirror, Priscilla denied the rumours on-stage during her recent Evening With Priscilla Presley event, saying “We are just fine.”
Lisa Marie’s half-brother and Priscilla’s son, Navarone Garibaldi, also squashed the claims, saying, “Yes they are fine. No feud.”
Now that the family has come to a settlement agreement, it seems like all is well for the Presleys.
Related stories
Native ad body.
Native ad body.
Native ad body.
