Riley Keough.Photo: David Crotty/Patrick McMullan via Getty
Riley, 34, and Priscilla, 78,reached an agreement in May, with lawyers saying at the time that terms of the settlement would be kept confidential. And while nearly all mentions of the payment are redacted in court documents filed Monday in Los Angeles, one line deep into the 95-page filing indicates the hefty price tag.
The documents state that a $400,000 payment Riley is to give Priscilla for legal fees and costs will come “at the same time as the one million payment as stated in Paragraph 6 of this Agreement.”
Priscilla Presley.Gerardo Mora/Getty Images
In return for Priscilla resigning, Riley is to issue the payment “after receiving the proceeds of her mother’s life-insurance policy,” per the docs.
Riley on Monday petitioned the court to approve the May settlement agreement, with her attorney Justin Gold writing that if it’s approved, theDaisy Jones & the Sixactress won’t charge for her services as a trustee, something he says Priscilla would have done.
Even so, the documents indicate that Priscilla was officially removed as Trustee of her late daughter’s estate on May 11, and that the change will remain in place whether Riley’s petition is approved or not, as Priscilla signed a settlement agreement.
Reps for Priscilla and Riley had no comment.
Priscilla Presley and Lisa Marie Presley.Bryan Steffy/WireImage
Priscilla, meanwhile, will be Trustee of the sub-trust of her son (and Lisa Marie’s half-brother) Navarone Garibaldi, whowill be granted 1/9 of the Trust, the documents state. The rest will be split among Riley, Finley and Harper.
Lisa Mariedied in Januaryat age 54.
TheTimesreported that the Elvis brand continues to generate more than $100 million a year, and that the Presley family share of that money is “funneled” to Promenade Trust.
source: people.com
