Priscilla Presley reportedly feels glad that her court battle with Riley Keough over Lisa Marie Presley's estate is now over.
After months-long of feud speculations amid the legal battle, Priscilla and Riley officially reached a settlement agreement over the estate of the late singer. The matriarch agreed to her removal as the estate trustee, but her granddaughter should make a $1 million lump-sum payment following the decision.
Elvis Presley Would Be "Proud," Says Priscilla Presley
The 78-year-old star filed a declaration in Los Angeles Wednesday in which she expressed her happiness with the settlement agreement she and her granddaughter approved after months-worth of legal showdown.
In the document obtained by People, Priscilla said the late King of Rock and Roll would be proud of the outcome.
"My daughter's passing was both devastating and heartbreaking," she said. "We have learned that the fans realize that we are 'Just a Family.' Elvis would be proud and his and Lisa's wishes are what are most important to all of us."
Priscilla added that Riley's counsel and her team worked hard to resolve all the misunderstandings in the family and the conflicts on Lisa Marie's estate.
She filed the declaration weeks after Riley petitioned the court to approve the agreement they came up with. Priscilla's lawyer Ronson Shamoun said the "united and together" family is now happy, while Riley's attorney Justin Gold clarified that his client would not have agreed if she felt unhappy about it.
Aside from the $1 million lump sum, Riley should give her grandmother a $400,000 payment to cover the legal fees and costs "within 10 days after Riley's receipt of the life insurance proceeds."
Lisa Marie Presley's Estate: What's The Status Now?
Following the agreement, Lisa Marie's daughter will now be the sole trustee of the estate while her 14-year-old twin sisters, Harper and Finley Lockwood, will be the sub-trusts.
Riley declared in the petition that she would use the money "in a manner consistent with the needs of the beneficiaries, and not influenced by the desire of a Trustee," as quoted by People.
On the other hand, Priscilla will serve as the sub-Trust of her son, Navarone Garibaldi, who will receive 1/9 of the trust.
The Presley family proved that everything is good now by sharing a carousel of photos online.
© 2024 MusicTimes.com All rights reserved. Do not reproduce without permission.
