Priscilla Presley and Riley Keough’s settlement of Lisa Marie Presley’s estate now has formal court approval, averting what could have been a multimillion-dollar public legal battle.
The final un-redacted agreement, filed in Los Angeles County probate court and rubber-stamped by a judge this week, states Priscilla can be buried as close to Elvis as possible at Graceland and that her son, Navarone Garibaldi, can attend the memorial ceremony.
“Riley agrees to allow Priscilla to be buried upon her death in the Meditation Garden of Graceland. The burial location will be at the location closest to Elvis Presley without moving any existing gravesite,” the settlement obtained by Rolling Stone reads.
The finalized pact further confirms Priscilla will receive a $1 million lump-sum payment “off the top” of Lisa Marie’s irrevocable trust funded by a $25 million life insurance policy.
Keough also agreed to pay Priscilla $100,000 a year for her services as a “special advisor” to the Promenade Trust, which holds the family’s shareholder interest in Elvis Presley Enterprises, Inc. The non-fiduciary role will last for 10 years or until her death, the paperwork states.
The settlement, originally reached in May, says Keough “agrees to use her best efforts to ask Elvis Presley Enterprises, Inc., or any successor therof, not to pursue litigation against Priscilla related to her name, image and likeness.”
Keough asked the court to sign off on the settlement so she could “have a court order she can deliver to third parties, such as the life insurance company, as appropriate, to clarify that she is the sole trustee.”
In reaching the agreement, “the parties wish to avoid the time and expense associated with litigation and wish to enter into this Settlement Agreement to settle all disputes as a family,” the paperwork states.
Keough’s lawyer wrote in the petition for court approval that the deal should “not be reviewed in a vacuum,” rather in the context of Priscilla’s lawsuit filed against the Promenade Trust earlier this year.
“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,” the lawyer, Justin Gold, wrote.
Gold confirmed Priscilla also received a one-time payment of $50,000 when she resigned as co-trustee of Lisa Marie’s irrevocable trust in May, leaving Keough as sole trustee and the shares breaking down so Lisa Marie’s half-brother Navarone Garibaldi receives 1/9th of the life insurance trust and Keough along with her 15-year-old half-sisters Harper and Finley split the remaining 8/9ths.
“Riley and the Guardia Ad Litem (for her twin younger sisters) are informed and believe that the settlement is in the best interests of the Trust and the family and therefore should be approved by the court,” Gold’s petition continued. “Now that Riley is the sole trustee, the money will be safeguarded and invested in a manner consistent with the needs of the beneficiaries.”
Navarone and Priscilla entered an amendment to the settlement on October 26, 2023, stating that lawyer Martin Singer will serve as trustee of Navarone’s portion of the trust.
Lisa Marie died January 12, 2023, at age 54, after being treated for cardiac arrest at her Calabasas home. Both Priscilla and Keough shared emotional tributes to the singer at her Graceland memorial. An autopsy revealed Elvis’ only child died following complications from an obstruction in her bowel.
Days before the incident, Lisa Marie attended the Golden Globes alongside her mom and watched actor Austin Butler, who portrayed Elvis in the biopic about the musician, win the award for Best Actor in a Motion Picture – Drama.
Keough, 34, later spoke about the tragedy in an interview with Vanity Fair.
“When my mom passed, there was a lot of chaos in every aspect of our lives. Everything felt like the carpet had been ripped out and the floor had melted from under us,” the “Daisy Jones & the Six” actress said. “Everyone was in a bit of a panic to understand how we move forward, and it just took a minute to understand the details of the situation, because it’s complicated. We are a family, but there’s also a huge business side of our family. So I think that there was clarity that needed to be had.”
In a statement shared with Rolling Stone last May, Priscilla said, “My family has 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. Although the media identified such a plea as a lawsuit, I want to make clear that there was never any lawsuit filed against my beloved granddaughter. As a family, we are pleased that we resolved this together. 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.”
