Riley Keough hopes there will be no more bad blood with her grandmother Priscilla Presley after their spiteful legal battle ends, it is claimed.
The bitter family feud between Priscilla, 77, and Riley, 33, over the multi-million dollar estate of the late Lisa Marie Presley ended this week.
Lawyers for the widow of Elvis and Riley announced in a Los Angeles probate court on Tuesday that the two men had “reached a settlement.”
‘Riley is relieved to have settled the dispute over her mother’s estate. She doesn’t want any drama with her grandmother,’ an insider said People.
Elvis Presley’s granddaughter is “still mourning her mother”, who shockingly died aged 54 in January after suffering cardiac arrest at her Calabasas home.
Lawyers for Priscilla Presley and Riley Keough announced in a Los Angeles probate court on Tuesday that the two had ‘reached a settlement’
Dearly departed: The bitter family feud between Priscilla, 77, and Riley, 33, over the multi-million dollar estate of the late Lisa Marie Presley (pictured) ended this week
When the legal tussle broke out between Riley and Priscilla, the former “hoped they could come to a settlement quickly,” the source added.
At Lisa Marie’s memorial service, Riley and husband Ben Smith-Petersen announced the arrival of their new baby girl.
The People source shared that the flare-up of tension between grandmother and granddaughter “has been very difficult for” Riley.
“She wants to focus on making memories with her own daughter now,” the insider revealed to the magazine. “It’s his priority.”
“Priscilla is happy,” her lawyer Ronson Shamoun told DailyMail.com when the settlement was reached. “Families are happy and unified and together and excited for the future.”
Asked if Riley was also happy with the settlement, her lawyer Justin Gold told DailyMail.com: “She wouldn’t have accepted the settlement if she wasn’t happy with it.”
Just two weeks after Lisa Marie died in January, her mother Priscilla filed a legal challenge to her daughter’s will – which gives control of Lisa Marie’s wealthy Promenade Trust to her daughter Riley.
Riley, who was reportedly furious when her grandmother went to court to protest the will, did not file an objection to Priscilla’s challenge.
Riley, 33, was reportedly furious when her grandmother went to court to protest the will after Lisa Marie’s death
And on Tuesday, it became clear why: she and her grandmother had buried the hatchet and settled their differences.
The terms of their settlement are unlikely to be known to the outside world. After telling Los Angeles Superior Court Judge Lynn Scaduto that there was an agreement between the two, Gold added that he planned to file a motion to seal the details of the settlement to keep them out of sight. public.
Lawyers also said in court on Tuesday that the women had reached a settlement over a second trust involving Lisa Marie’s insurance policies – estimated to be worth $35 million.
Judge Scaduto has scheduled a hearing on August 4 for the court to formally approve the two settlements.
Riley has always been supportive of her mother during her long and often nasty divorce and child custody disputes with her fourth husband, musician Michael Lockwood, 61, father of Lisa Marie’s twin, 14-year-old daughters Finley and Harper .
It was reported that Priscilla and Lisa Marie “barely spoke” just before the latter’s death after Priscilla sided with Lockwood for custody of the twins.
Multiple sources told People the mother and daughter aren’t on good terms, despite appearing at several events together, including the premiere of the Elvis biopic starring Austin Butler.
“Riley was always on his mother’s side when it came to Michael (Lockwood),” a source told the magazine. “It bothered her that her grandmother and Michael flew out together for (Lisa Marie’s) funeral.”
Just days after Lisa Marie’s memorial service, Priscilla filed a petition questioning the ‘authenticity and validity’ of her trust
Last month, a judge granted Lockwood’s request to be named “ad litem guardian” of Harper and Finley
The will contains the rights to the Graceland mansion (pictured) and a 15% stake in Elvis Presley Enterprises
Priscilla also helped Michael attend the ceremony at Elvis’ famous home, Graceland, despite his late daughter’s wishes.
“Michael wasn’t invited,” a close friend of Lisa Marie told People. “He came to Memphis on the pretext that he was to chaperone the twins – and he broke in with the help of Priscilla.
“The last thing Lisa Marie would have wanted was for Michael to be here.”
The rift between Riley and her grandmother began when Priscilla went to court – just days after Lisa Marie’s memorial service – to challenge her daughter’s 2016 decision to change her will, remove Priscilla and her ex- manager Barry Siegel as directors and replacing them with Riley. .
The will contains the rights to the Graceland mansion and a 15% stake in Elvis Presley Enterprises.
Lisa Marie also had two life insurance policies, one valued at $25 million and the other at $10 million.
In addition to replacing Priscilla as trustee and removing her from the will, Lisa Marie’s 2016 amendment also named Riley’s brother Benjamin as another trustee.
Benjamin, however, committed suicide in 2020, leaving Riley as the sole named heir.
Riley paid tribute to her late mother on the first Mother’s Day since her passing, posting a photo of her mother and father, Danny Keough, 58, holding her like a newborn. “Lucky to have had the best and most deeply loving mum I could ask for”
Priscilla’s contested motion to court questioned the ‘authenticity and validity’ of the trust, claiming Lisa Marie’s signature was ‘inconsistent’ and asked to be reinstated as trustee.
The grandmother-of-four also claimed she had no idea Lisa Marie switched the trust in 2016 until her daughter died.
If Priscilla’s petition were granted, she and Riley would become joint trustees of Lisa Marie’s estate.
Last month, Judge Scaduto granted Lockwood’s request to be made ‘ad litem guardian’ of Harper and Finley – allowing him to represent the girls on their mother’s hotly contested estate.
Both Harper and Finley are beneficiaries of Lisa Marie’s trust while their father Lockwood is not.
But being declared a legal guardian gives him control over his daughters’ inheritance – at least until they reach adulthood at 18 – and his second chance to share in Presley’s wealth after his first fell. ended in a big zero in his divorce.
Lisa Marie – Elvis’ only child – filed for divorce from Lockwood in 2016 after 10 years of marriage. The two spent years fighting over finances and were still negotiating child support for the twins until his death.
Lockwood asked the divorce court in 2018 to order Lisa Marie to pay him $263,000 a year in spousal support so he can ‘enjoy a lifestyle closer to my marital status’ – which included lavish and expensive vacations and flights in private jets.
Michael Lockwood and Lisa Marie spent years battling over finances and were still negotiating until his death
And he tried to persuade the judge to tear up a post-nuptial agreement – in which he and Lisa Marie both gave up their rights to each other’s property and child support if they divorced.
But Lockwood ended up losing, not getting a dime from Lisa Marie after he openly admitted he hadn’t read the post-nup and claimed his lawyer at the time hadn’t explained it to him.
The judge upheld the postnuptial and dismissed Lockwood’s case, telling the court: “If Lockwood chose not to read the postnuptial and accept the consequences that it would be confirmed, that is his choice.”
Prior to her death, Lisa Marie and her ex shared custody of Finley and Harper and she reportedly paid him $6,000 a month in child support.
But Lockwood – who is now remarried to hairstylist Stephanie Hobgood – was claiming $40,000 a month, insisting Lisa Marie had far more money than she revealed in court documents and claiming her battles divorce and child custody lawsuits had cost him more than $1 million.
