As we previously reported, following Lisa Marie’s death, Priscilla rushed to court demanding to be named co-trustee of her late daughter’s trust.
Lisa Marie was heavily in debt at the time of her death. RadarOnline.com obtained court records that showed she owed $3-$4 million to various creditors. However, she took out various life insurance policies that paid out $35 million to her trust after her death.
The only beneficiaries to the trust are Riley and her younger twin sisters, Harper and Finley.
In her petition, Priscilla claimed Lisa Marie’s will put her and her late daughter’s ex-biz manager Barry Siegel in charge of the trust. She said an alleged 2016 amendment was floating around that put Riley in charge and kicked her out.
However, Priscilla claimed the signature on the amendment did not look like Lisa Marie’s signature.
Sources said Riley was furious with her grandmother’s decision to take the matter to court.
As we previously reported, yesterday, it was revealed Riley paid her grandmother $1 million and another $400k for her legal fees to settle the case. Per their deal, Riley will be the sole trustee of Lisa Marie’s estate.
Riley filed a motion to seal portions of the petition claiming, “the parties’ interest in maintaining this limited financial information under seal overrides any limited public right of access to this information, and supports sealing.”
She said, “We have learned that the fans realize that we are “Just a Family.” Elvis would be proud and his and Lisa’s wishes are what are most important to all of us. My granddaughter, through her counsel, along with my team worked diligently and tirelessly to resolve all misunderstandings as a family.”