One month afterRiley Keoughand grandmotherPriscilla Presleyreached an agreementover the late Lisa Marie Presley’s estate, theDaisy Jones & the Sixstar has become its sole trustee, PEOPLE confirms.
The actress’s lawyer Justin Gold writes that if the court approves the petition that Riley will not charge for her services as a trustee; therefore, “the beneficiaries all save money that would have gone to Priscilla who was going to charge a trustee fee."
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Priscilla Presley.Gerardo Mora/Getty Images
Priscilla, meanwhile, will be Trustee of the sub-trust of her son (and Lisa Marie’s half-brother)Navarone Garibaldi, who will be granted 1/9 of the Trust, the documents reportedly state. The rest will be split among Riley, Finley and Harper, and Priscilla will also receive a one-time, lump sum payment from the Trust for an undisclosed amount.
Per the documents, Priscilla, 78, was officially removed as Trustee of her late daughter’s estate on May 11, and that the change will remain in place whether Riley’s petition is approved or not, as Priscilla signed a settlement agreement.
Reps for Priscilla and Riley had no comment.
Legal counsel for Priscilla and Riley reached an agreement over Lisa Marie’s trust in May, andPriscilla said at the timethat the “Presley family is stronger than ever.”
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“They have reached a settlement. Families are happy,” Ronson Shamoun, Priscilla’s lawyer, told reporters. “Everyone is happy. Unified and together and excited for the future.”
Gold added, “[Riley] would not have agreed to the settlement if she was not happy with it.”
Priscilla hadfiled a petition in Januaryquestioning the “authenticity and validity” of a 2016 amendment to Lisa Marie’s trust that removed her as co-trustee and put Riley in charge.
The trust — which includes Elvis Presley’s beloved Graceland property and a 15 percent stake in Elvis Presley Enterprises (EPE) — had previously listed Priscilla and Lisa Marie’s former business manager Barry Siegel as co-trustees.
Priscilla Presley and Lisa Marie Presley.Bryan Steffy/WireImage
Multiple sources said the legal proceedings caused Riley and Priscilla to stop speaking to each other. “They do not see eye to eye,” said a Presley family insider.
Still, in Priscilla’s statement following the May agreement, she said her family had “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.”
“As a family, we are pleased that we resolved this together,” she wrote. “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.”
source: people.com
