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Riley Keough reportedly agreed to give her grandmother, Priscilla Presley, over $1 million in order to become the sole trustee of mother Lisa Marie Presley’s estate.
According to court documents obtained by People, the “Daisy Jones & The Six” star will be giving Priscilla a $1 million lump-sum payment in addition to another $400,000 to cover her legal fees.
The documents, which were filed in Los Angeles on Monday, allegedly state that the hefty payouts will happen “at the same time” after Riley, 34, receives “the proceeds of her mother’s life-insurance policy.”
The filing indicates that Priscilla, 78, was officially removed as trustee of her late daughter’s estate on May 11, after she and Keough agreed the latter would take over as the official beneficiary.
At the time, both parties agreed to keep the settlement details confidential, redacting nearly all mentions of their agreed-upon payout in the filings — except for one near the end of the 95-page document.
Although Priscilla received a big payday from the settlement, she was reportedly denied her request to be buried next to her late husband, Elvis Presley during negotiation talks.
Reps for Priscilla and Keough did not immediately respond to Page Six’s request for comment.
Following news of their settlement, Priscilla told Page Six in a written statement, “My family has resolved all confusion as it relates to our plea to the court and request for document interpretation after my daughter Lisa Marie’s untimely passing.
“Although the media identified such a plea as a lawsuit, I want to make clear that there was never any lawsuit filed against my beloved granddaughter. As a family, we are pleased that we resolved this together. My family and I hope that everyone will grant us the privacy we have needed to properly grieve Lisa Marie and spend personal time together. We love and appreciate all of you and the Presley family is stronger than ever.”
Meanwhile, Keough’s lawyer, Justin Gold, told CNN that his client was “very content” with their agreement.
The two women went head to head in January after Priscilla contested her late daughter’s will, suggesting that there were errors in its “authenticity and validity.”
Specifically, she wanted to challenge a “purported 2016 amendment” to the will, which ousted her as a trustee and made the actress, and Benjamin Keough — the late son of Lisa Marie — co-trustees.
While Riley kept mum on the shocking claims, a friend of Lisa Marie told Page Six that Priscilla’s efforts were nothing but a “money grab.”
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The legal drama led to an alleged rift between the family, with sources telling Page Six that the two women were not on speaking terms.
“Riley and Priscilla are not talking,” the insider insisted. “Their relationship is changing, that is true. … It’s just so sad. This is the time Riley would really need her grandmother.”
Lisa Marie died on Jan. 12 after going into cardiac arrest. She was 54.
