Riley Keough and Priscilla Presley have finally put an end to their long-standing legal dispute over the estate of Lisa Marie Presley. According to a report issued by the New York Times, the two has reached to a settlement that brings closure to the battle. This development is a relief to the disagreement that had caused tension and uncertainty within the family.
The terms of settlement state that Riley Keough has to make a lump-sum payment to Priscilla to cover the legal fees that she incurred during the course of the litigation.
The heart of the matter revolved around an alleged 2016 amendment to Lisa Marie’s living trust. Priscilla and Barry Siegel, Lisa Marie’s former business manager, were initially named as co-trustees. However, the amendment sought to replace them with Keough and her late brother, Benjamin, as the new co-trustees. This change sparked the legal battle between Priscilla and Keough, as they held differing views on the validity of the amendment.
As acknowledged in the settlement, Priscilla will maintain her role as a “special adviser” to the trust. This position ensures her continued involvement in the decision-making processes regarding the management of the trust. It also recognizes her valuable insights and expertise. Additionally, Priscilla will receive an undisclosed annual amount for a period of ten years or until her passing. This arrangement secures her financial well-being and underscores her importance within the family dynamics.
With the settlement reached, Riley Keough will assume the sole trustee role for her late mother’s trust. This responsibility places her in a position of great trust and fiduciary duty. Riley will be responsible for the management and protection of the assets held within the trust, ensuring that they are utilized for the benefit of the beneficiaries, where in she is one of them. This new role signifies Keough’s increased responsibility and the trust placed in her by her family.
The announcement of the settlement came last month when the legal representatives of Priscilla and Keough informed the public of their agreement. While the specific details of the settlement were not disclosed at the time but the procedural steps to finalize the settlement were established that include a motion due date and a follow-up hearing. These steps indicate the commitment of both parties to bring closure to the legal proceedings.
The resolution of the dispute brings relief and happiness to both families involved. Priscilla’s attorney, Ronson J. Shamoun, expressed this sentiment, noting that “the families are happy, unified, together, and excited for the future.” The settlement represents a turning point, allowing the families to move forward from the tensions and uncertainties that plagued them during the legal battles.
Now, the focus can shift towards honoring and preserving the legacy of Lisa Marie Presley. The trust will continue to assist in safeguarding and managing her assets for the benefit of her heirs. As the sole trustee, Riley Keough assumes the responsibility of ensuring that the trust operates in alignment with Lisa Marie’s wishes and in compliance with legal requirements.
The settlement between Riley Keough and Priscilla Presley marks the end of a difficult chapter for the family. It signifies their commitment to finding common ground and maintaining familial unity. Moving forward, they can direct their energy towards cherishing the memories of Lisa Marie and working together to manage and preserve her estate for future generations.
The settlement brings closure to a complex and emotional legal battle, providing a glimmer of hope for a harmonious future. The two parties involved can now begin their healing process and focus on the positive aspects of their shared history. Both of their testimony to resilience and willingness to come together, setting aside differences for the sake of their mutual love and respect.
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