Priscilla Presley and Riley Keough reach settlement in fight over Lisa Marie’s trust: ‘Everyone Is Happy’

The family is reportedly "unified and together and excited for the future" after Priscilla Presley and her grandaughter, Riley Keough, came to an agreement regarding Lisa Marie Presley's estate. Photo / Getty Images

Lisa Marie Presley passed away at the start of this year and after an ongoing battle over her trust, Priscilla Presley and Riley Keough have finally reached a settlement.

The two were engaged in an ongoing trust battle after Priscilla’s lawyers filed a petition questioning the “authenticity and validity” of an amendment that was made to Lisa Marie’s living trust in 2016.

The change removed Priscilla and Lisa Marie’s former business manager Barry Siegel as cotrustees and gave control of the trust to Keough and her late brother, Benjamin - something Priscilla argued she didn’t know about and should therefore be voided.

The trust - which includes the Graceland mansion and a 15 per cent stake in Elvis Presley Enterprises (EPE), which together brought in a reported US$110 million (NZ$176m) in 2022 — was something Lisa Marie wanted her children to be beneficiaries of, a friend of the late star told People magazine at the time.

Now, the US magazine has confirmed Priscilla and Keough have reached an agreement in their trust battle at a Los Angeles courthouse this week.

Speaking to media, Priscilla’s lawyer Ronson Shamoun said “They have reached a settlement. Families are happy,” adding, “Everyone is happy. Unified and together and excited for the future.”

Lisa Marie Presley with her mother, Priscilla Presley, centre and daughters, Harper Vivienne Ann Lockwood, left, Riley Keough, second from right, and Harper's twin Finley Aaron Love Lockwood, far right. Photo / Getty Images

Meanwhile, Keough’s lawyer Justin Gold, added, “[Riley] would not have agreed to the settlement if she was not happy with it.”

The agreement reached will reportedly see Keough submit a settlement request that will be under seal for both the Promenade as well as an insurance trust with the motion of approval scheduled for August 4.

It has not been an easy road for Priscilla and Keough since the death of Lisa Marie with Daily Mail reporting in March that the feud between the two hit new heights following a decision made by the court in regard to Keough’s half-sisters.

At the time of her death, Lisa Marie was engaged in a seven-year-long custody battle against her ex-husband Michael Lockwood with both seeking full custody of their twin daughters, Harper and Finley, 14 - which he was later granted following her death.

Priscilla, 77, appeared in favour of the decision as she did not object which reportedly angered Keough who was said to have taken her mother’s side during the messy divorce and custody battle and believes the court ruling means she is “losing” her half-sisters to an “outsider”.

Priscilla had also upset Keough after the death of Lisa Marie as she reportedly flew to the 54-year-old’s funeral with Lockwood despite Keough making it clear he was not invited.