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The settlement, which was filed in Los Angeles on Monday, comes after months of back-and-forth between Riley Keough and Priscilla Presley over the terms of Lisa Marie Presley’s will. Lisa Marie Presley died in August 2020 at the age of 53.
Under the terms of the settlement, Keough will pay Priscilla Presley $1 million to become the sole trustee of Lisa Marie Presley’s estate. Keough will also pay Priscilla Presley $400,000 to cover her legal fees.
The settlement is a victory for Priscilla Presley, who had been seeking to be named the sole trustee of her daughter’s estate. Keough had argued that she should be named the trustee because she is Lisa Marie Presley’s only child.
The settlement also brings an end to a long and public dispute between Keough and Priscilla Presley. The two women had been estranged for years, but they reportedly reconciled in the months leading up to Lisa Marie Presley’s death.
The settlement is a reminder of the importance of having a will in place. If you do not have a will, your assets will be distributed according to state law, which may not be what you want. It is also important to update your will regularly, especially if your circumstances change.
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