Riley Keough To Pay Priscilla Presley Over $1 Million In Trust Settlement

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Riley Keough is reportedly paying her grandmother Priscilla Presley over $1 million as she becomes the sole trustee of her late mother Lisa Marie Presley's estate. According to court documents obtained by People, the actress will give her grandmother a $1 million lump-sum payment as part of a previous settlement they reached. She'll also give Presley another $400,000 for legal fees and costs "at the same time as the one million payment as stated in Paragraph 6 of this Agreement."

In May, Riley (34) and Presley (78) reached an agreement but the terms of the settlement were kept confidential and, according to People, almost all mentions of the payment are redacted in the court documents filed on Monday, June 12th. Riley petitioned the court to approve the May settlement agreement that same day.

The documents also indicate that Presley was officially removed as Trustee of her late daughter's estate on May 11th and she signed a settlement agreement which means that change will remain regardless if Riley's petition is approved or not. Riley will be the sole trustee of her mother’s estate and of the sub-trusts for her 14-year-old twin sisters Harper and Finley Lockwood. The petition also states that she’ll safeguard and invest the money “in a manner consistent with the needs of the beneficiaries, and not influenced by the desire of a Trustee."

Shortly after Lisa Marie passed away in January at the age of 54, Riley and Priscilla became tangled in a heated legal battle after the latter contested her late daughter's will. She claimed that the new amendment, which removed her as a trustee, had issues when it came to the "authenticity and validity" of Lisa Marie's signature.

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