In a prolonged legal battle over the estate of Lisa Marie Presley, the late daughter of Elvis Presley, a resolution might be on the horizon. The conflict involving Priscilla Presley, Lisa Marie’s mother, and Lisa’s children appears to be reaching a conclusion.
The dispute traces back to an alleged amendment to Lisa’s living trust, originally executed in 1993 and restated in 2010. The trust, known as Promenade Trust, holds a 15 percent interest in Elvis Presley Enterprises, the entity responsible for managing the intellectual property of the late icon. Priscilla Presley and her former business manager, Barry Siegel, were appointed as co-trustees of this trust, according to the 2010 restatement.
However, Priscilla discovered a document dated 2016 that purportedly replaced her and Siegel with Lisa Marie’s children, Riley and Benjamin Keough. Given Benjamin Keough’s untimely demise in 2020, the amendment positions Riley as the sole trustee. Priscilla contested this amendment, seeking a court order to validate the 2010 trust and affirm her status as a current trustee.
In a recent development, Priscilla Presley has reached a settlement regarding her petition questioning the legitimacy of her late daughter’s will. The settlement was confirmed in a court hearing in Los Angeles, with the agreement focusing on the disputed Promenade Trust. It designates Riley Keough, the eldest daughter of Lisa Marie, as the beneficiary of her mother’s estate.
Details of the settlement were not disclosed in court, and the parties’ attorneys indicated plans to file a motion to keep the settlement agreement confidential. The court has requested that both the settlement and the motion to seal be filed by June 12, with a subsequent hearing scheduled for August 4.
Priscilla Presley’s attorney Ronson J. Shamoun said the following about the legal battle at a court hearing:
“The parties would like to report that they’ve reached a settlement.”
He also told reporters:
“The families are happy. Everyone is happy, unified, together, and excited for the future.”
From the discovery of the contested 2016 document, through to the legal battle that ensued, it has been a challenging period for all parties involved. The hope now is that the recent settlement brings closure and unity to the Presley family as they look to preserve the legacy of Elvis and Lisa Marie Presley.
