A settlement has been reached in a family dispute over the will of the late Lisa Marie Presley, daughter of music star Elvis Presley, lawyers said before a Los Angeles judge on Tuesday.
The settlement, the terms of which were not disclosed, is subject to court approval.
The deal resolves a dispute raised by Priscilla Presley that challenged the validity of amending the will of Lisa Marie Presley, her late daughter.
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Ronson J. said: Shimon, Priscilla Presley’s attorney, after the court hearing: “Everyone is happy.” Shimon, who also represents the Lisa Marie Presley Trust (otherwise known as the Promenade Trust), described the family as “united.”
Los Angeles County Superior Court Judge Lynn H. Scaduto has set August 4 as the date for the next hearing in the case.
The session was attended by representatives of Lisa Marie Presley’s daughter, Riley Keough. Attorneys for her other children appeared remotely.
The deal ends uncertainty over who will control the will of the late Lisa Marie Presley, the legacy of the Graceland mansion and many of the King of Rock ‘n’ Roll’s personal possessions.
In 1993, Lisa Marie Presley appointed her mother and then business manager Barry Siegel as co-custodians of her trust. However, after Lisa Marie Presley died on January 12 in Los Angeles, her mother said she discovered an amendment to the will dated March 11, 2016, which replaced them as guardians upon her death.
Priscilla Presley asked the court in January to determine the validity of the amendment. In her filing, she said the amendment stipulated that she and Siegel would be replaced by Lisa Marie’s oldest children Riley Keough, 33, and Benjamin Keough — who died in 2020 at the age of 27.
However, Priscilla Presley questioned the authenticity of Lisa Marie Presley’s signature on the document, stating that the document misspelled Priscilla Presley’s name and that the amendment was never delivered to her during her daughter’s lifetime “as required by the express terms of the trust”.
Furthermore, the document has not been seen or documented. According to her report, Priscilla Presley thought Siegel would resign as co-regent, and lined up Riley Keough as co-regent alongside her.
Lisa Marie Presley survived Her three daughters, actor Riley Keough and twins Harper and Finlay Lockwood, are from different previous husbands.
When she died, Elvis famously owned Memphis, Tennessee, her mansion, and Graceland and kept ownership of her father’s fashions, cars, awards, and other possessions, according to the mansion’s website. Presley, 54, helped oversee her late father’s estate before she passed away earlier in January after suffering a heart attack.
Despite the legal wrangling, Priscilla Presley denied any family feud in a statement she released in February.
Siegel and Lisa Marie Presley fought in court in 2018, after Presley sued Siegel for alleged financial mismanagement and claimed he owed more than $16 million that year. Then Siegel disputed and accused Presley of wasting her inheritance and owing him money.