UPDATE 06/15/2023: Documents containing the payment amounts entitled to Priscilla Presley by Riley Keough have been released.
After Keough received payout from her mother’s life insurance policy, she is required to pay Presley $400,000 to account for Presley’s legal fees, as well as a million dollar lump sum, atop the 1/9 delegation of the total trust to Presley’s son, Navarone Garibaldi.
ORIGINAL ARTICLE: Documents obtained by Entertainment Tonight have revealed the financial breakdown of the Presley estate settlement. The documents state that Riley Keough will, in fact, be the sole trustee of the estate and the sub-trusts belonging to her underaged twin sisters, Harper and Finley.
Keough will reportedly not collect a salary as the trustee, which “will save money that would have gone to Priscilla who was going to charge a trustee fee.” The documents state that Keough will invest the money “in a manner consistent with the needs of the beneficiaries, and not influenced by the desire of a Trustee.”
Additionally, the settlement bestowed an undisclosed lump sum to Priscilla Presley, as well as a position as Trustee for a sub-trust belonging to Navarone Garibaldi, Priscilla Presley’s son and Lisa Marie’s half-brother. Garibaldi’s sub-trust was awarded 1/9th of the total estate, despite Garibaldi not being related to Elvis Presley.
Any additional money or policy benefits will be split 8/9th between Lisa Marie’s three living children.
“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,” Priscilla said earlier this year. “Although some 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.”