Priscilla Presley Scores Hefty Payout In Legal Battle Over Lisa Marie's Trust

Lisa Marie Presley's death was unexpected and left many things up in the air, including her assets. When the musician passed away, she left behind a trust that included the famous Graceland, as well as stakes in Elvis Presley Enterprise, per CNN. But who was to get those assets after her death? This question spawned a lengthy legal battle, culminating in a settlement after five long months.

In January 2023, Priscilla Presley was eager to take charge of her daughter's estate, as she believed she was the appointed trustee. However, a new document, brought forth in January, named Lisa Marie's daughter Riley Keough and her late son Benjamin Keough as the official trustees, per TMZ, thereby making Riley the sole trustee at the time of her death. But Priscilla was not about to let this slide. She questioned whether or not the document was fraudulent, claiming the signature was inconsistent with Lisa Marie's and that the document was never shared with her, which would have been required to change the trustee. This new document caused tension in the Presley family, as Priscilla and Riley were reportedly at odds with one another.

Over time, however, the two have seemingly come to an agreement, as the case has finally been settled, according to TMZ. And it looks like Priscilla is walking away with a lot more than some might've expected.

Priscilla Presley reportedly receives millions in Lisa Marie case

No doubt, Priscilla Presley was already rolling in dough, but her stacks just got bigger. According to TMZ, Priscilla and her granddaughter, Riley Keough, have come to an agreement regarding Lisa Marie Presley's trust. Although details about the settlement are scarce, the outlet revealed that Priscilla walked away with a lump sum of money somewhere in the millions.

Leading up to the final decision, Keough and Priscilla were on good terms, despite all the rumors of bad blood. A source revealed to Entertainment Tonight that Priscilla had opened up about the supposed feud during a Q&A. The source shared, "They [the rumors] weren't true. It was very brief, but she [Priscilla] just said, 'Don't believe what's been said.'"

It looks like Priscilla was telling the truth, too, because despite her hefty payout, both parties seem happy with the settlement, according to People. Ronson Shamoun, Priscilla's lawyer, told reporters, "They have reached a settlement. Families are happy. Everyone is happy. Unified and together and excited for the future." As for the "Daisy Jones & the Six" star, family gatherings won't be so awkward with her grandmother because Keough is also fine with the settlement. Keough's attorney shared, "[Riley] would not have agreed to the settlement if she was not happy with it." So, it looks like the Presley family is back on track as they move forward from this bump in the road.

Priscilla Presley pleads for peace and privacy

The months since Lisa Marie Presley's death have been filled with drama and rumors of strife for Priscilla and Riley Keough. Now that they have reached a settlement, things will likely settle down between the relatives. At least that's what Priscilla hopes for. In a new statement, Lisa shut down the lingering rumors of ill-intent towards her granddaughter. "I want to make clear that there was never any lawsuit filed against my beloved granddaughter," Priscilla said in a statement to the LA Times. "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."

Although neither woman has further spoken about the settlement, their social media activity indicates they're ready to move on from their squabbles. On May 16, Priscilla congratulated Austin Butler for scoring yet another award for portraying her late ex-husband, Elvis Presley. "Congratulations Austin Butler!" Priscilla posted to Instagram. "I'm so proud that Austin Butler won the Best Actor award for his portrayal of Elvis at Sunday's BAFTA Awards." Meanwhile, Keough recently tributed her late mom, Lisa. "Lucky to have had the best and most deeply loving mama I could have asked for," wrote Keough alongside an Instagram photo of Lisa holding her as a baby.

Will Priscilla Presley or Riley Keogh own Graceland?

The question of who would own Graceland cropped up shortly after Lisa Marie Presley died in January 2023. At first, the answer seemed obvious. Ownership, which previously belonged to Lisa, would be transferred to Riley Keough and her minor sisters, according to E! News. But then Priscilla Presley contested Lisa's wishes, making way for a possibly nasty fight over Elvis Presley's famous former estate, which Lisa Marie inherited in 1993.

Lisa Marie has always been clear about the ownership of Graceland. "It is absolutely 100 percent mine and it has always been mine, Graceland," Lisa Marie shared with Entertainment Tonight. "It will always be. And when it is no longer mine, it will be my children's. And that is that."

Now that Priscilla and Keough have reached an amicable settlement over Lisa Marie's estate, there's a chance that Priscilla walked away with rights to property, although this has not been confirmed. If Priscilla has ended up with partial or full access to Graceland, then it will be a far different outcome than she once proposed. 

Back in 2006, Priscilla shut down speculation that Lisa Marie was gearing up to sell the famous property. "Nobody is selling Graceland!" Priscilla said to People. "Lisa is the sole heir to Graceland -– she owns the house and the grounds. It will be a place for her and the children to visit forever," she added. It'd be interesting to hear who Priscilla feels Graceland should go to today.