In the world of showbiz and family dynamics, financial matters can sometimes take center stage. Recently, the media has been buzzing about Riley Keough, granddaughter of legendary musician Elvis Presley, agreeing to pay a whopping $1 million to her grandmother, Priscilla Presley.
This unexpected settlement has left many wondering about the reasons behind this substantial amount of money.
Riley Keough, an accomplished actress, and model is the daughter of Lisa Marie Presley, who is Priscilla Presley’s daughter and Elvis Presley’s only child. The Keough-Presley family has long been in the spotlight due to their famous lineage and their pursuits in the entertainment industry.
Lisa Marie Presley passed away in January due to cardiac arrest, leaving her estate to Riley Keough and her 14-year-old twin sisters, Harper, and Finley Lockwood.
After the passing of Lisa Presley, her daughter Riley Keough found herself entangled in a legal dispute with the renowned celebrity & her grandmother, Priscilla Presley. Riley, 34, had been designated as the sole heir to her mother’s substantial $35 million estate.
Riley Keough V/s Priscilla Presley: What caused the legal dispute?
However, the two parties managed to resolve their differences and reach a settlement last month. This agreement brought an end to the contentious legal battle that had unfolded following Lisa Presley’s untimely demise at the age of 54 earlier this year.
While specific details regarding the payment are redacted in the filing, it is mentioned that a $400,000 payment for legal fees and costs will be made alongside the $1 million payment as stated in Paragraph 6 of the agreement.
The exact amount to be paid within 10 days of Riley’s receipt of the life insurance proceeds remains undisclosed, but The New York Times previously reported it to be $1 million. The agreement also states that Priscilla has been formally removed from her role as trustee in her daughter’s estate as of May 11th.
In the documents, Riley’s lawyer added: “In settling the claims pending in Priscilla’s Petition, the parties are saving significant legal fees by avoiding litigation, and they are likewise avoiding the spectacle of intra-family litigation that would have been inimical to Lisa’s wishes and not in the best interests of the family.”
This legal dispute among celebrities has captured public attention, leaving many intrigued about the circumstances surrounding this significant settlement. Beyond the legal and financial aspects, this settlement also highlights the complexity of familial relationships in the public eye.