Priscilla Presley and Riley Keough settle a feud over Lisa Marie’s estate

The bitter family feud between Priscilla Presley and her granddaughter Riley Keough over the multimillion-dollar estate of the late Lisa Marie Presley is over.

Lawyers for Elvis’ widow and Riley – star of the popular Prime TV series Daisy Jones and the Six – announced in a Los Angeles court on Tuesday that the two have “reached a settlement.”

“Priscilla is happy,” her attorney Ronson Shamoun told DailyMail.com. “The families are happy and united and together and excited for the future.”

When asked if Riley was also happy with the settlement, her attorney Justin Gold told DailyMail.com, “She wouldn’t have agreed to the settlement if she wasn’t happy with it.”

Just two weeks after Lisa Marie’s death in January at the age of 54, her mother Priscilla filed a legal challenge against her daughter’s will – which gives control of Lisa Marie’s wealthy Promenade Trust to her daughter Riley.

Riley, 33, who was reportedly furious when her grandmother went to court to protest the will, has not objected to Priscilla’s challenge.

And on Tuesday it became clear why: she and her grandmother had buried the hatchet and settled their differences.

It is unlikely that the terms of their settlement will become known to outsiders. After announcing to LA Superior Court Judge Lynn Scaduto that there was an agreement between the two, Gold added that he planned to file a motion to seal the details of the settlement to keep them from public view. to keep an eye.

The lawyers also testified in court on Tuesday that the women settled on a second trust related to Lisa Marie’s insurance policies — estimated to total $35 million.

Judge Scaduto has scheduled a court hearing on August 4 to officially approve both settlements.

Riley always supported her mother through her lengthy, often vexing divorce and custody disputes with her fourth husband, musician Michael Lockwood, 61, father of Lisa Marie’s twin, 14-year-old daughters, Finley and Harper.

It has been reported that Priscilla and Lisa Marie “barely spoke” just before the latter’s death after Priscilla sided with Lockwood over custody of the twins.

Multiple sources told People that the mother and daughter couldn’t speak to each other, despite appearing at multiple events together, including the Elvis biopic.

“Riley was always on her mother’s side when it came to Michael (Lockwood),” a source told the magazine. “It bothered her that her grandmother and Michael flew to (Lisa Marie’s) funeral together.”

Priscilla also helped Michael with the ceremony at Elvis’ famous home, Graceland, despite her late daughter’s wishes.

“Michael wasn’t invited,” a close friend of Lisa Marie told People. “He came to Memphis under the pretense of escorting the twins — and he forced his way in with Priscilla’s help.

“The last thing Lisa Marie would have wanted was for Michael to be there.”

The rift between Riley and her grandmother began when Priscilla went to court – just days after Lisa Marie’s memorial service – to challenge her daughter’s 2016 decision to change her will, declaring Priscilla and her ex-manager Barry Siegel to remove the trustees and replace them with Riley. .

The will includes the rights to the Graceland mansion and a 15 percent interest in Elvis Presley Enterprises. Lisa Marie also had two life insurance policies, one worth $25 million and the other $10 million.

In addition to replacing Priscilla as trustee and removing her from the will, Lisa Marie’s 2016 amendment also named Riley’s brother Benjamin as the other trustee. But Benjamin committed suicide in 2020, leaving Riley as the sole heir.

Priscilla’s defiant petition to the court questioned the “authenticity and validity” of the trust, claiming Lisa Marie’s signature was “inconsistent,” and asking for reinstatement as trustee.

The grandmother of four also claimed she was unaware that Lisa Marie had changed the trust in 2016 until after her daughter’s death.

If Priscilla’s request were granted, she and Riley would become co-custodians of Lisa Marie’s estate.

Last month, Judge Scaduto granted Lockwood’s petition to be named “guardian ad litem” for Harper and Finley, allowing him to represent the girls over their mother’s hotly contested estate.

Harper and Finley are both beneficiaries of Lisa Marie’s trust, while their father Lockwood is not.

But being declared their legal guardian puts him in control of his daughters’ inheritance — at least until they reach adulthood at age 18 — and his second chance to share in Presley’s wealth after his first ended in a fat zero in his divorce

Lisa Marie – Elvis’ only child – filed for divorce from Lockwood in 2016 after 10 years of marriage. The two fought over finances for years and continued to negotiate child support for the twins until her death.

Lockwood asked divorce court in 2018 to order Lisa Marie to pay him $263,000 a year in spousal support so that he could “enjoy a lifestyle closer to my marital status of living” — including lavishly entertaining, expensive vacations and flying private jets .

And he tried to get the judge to tear up a post-nuptial agreement — in which he and Lisa Marie both gave up their rights to each other’s property and spousal support if they divorced.

But Lockwood ended up on the losing side and didn’t get a penny from Lisa Marie after she openly admitted he didn’t read the post-nup and claimed his lawyer didn’t explain it to him at the time.

The judge upheld the post-nup and dismissed Lockwood’s case, telling the court, “If Lockwood chooses not to read the post-nup and accept the consequences of it being upheld, that is his choice.”

Before her death, Lisa Marie and her ex shared custody of Finley and Harper, and she reportedly paid him $6,000 a month in child support.

But Lockwood – who has now remarried hairdresser Stephanie Hobgood – demanded $40,000 a month, insisting that Lisa Marie had much more money than she revealed in court documents and said his legal battle over the divorce and custody of the children left him more than $1 million.