The ex-wife of Elvis Presley will receive a one-time lump sum, in addition to 10 years of payments for her role as an advisor.
New details about Lisa Marie Presley's estate settlement between Riley Keough and Priscilla Presley have been revealed. On Tuesday, Oct. 30, a Los Angeles judge signed off on their agreement, which includes a 10-year payout for Priscilla and plans for her future burial.
According to court documents obtained by ET, Priscilla will receive a $100,000 payout per year for her role as special advisor of the promenade trust related to its shareholder interest in Elvis Presley Enterprises. The payments will be made monthly and are guaranteed for 10 years or until Priscilla's death, regardless of whether Riley ends Priscilla's role as special advisor. She will also receive a $1 million lump sum from Lisa Marie's $25 million life insurance policy.
Priscilla's 36-year-old son, Navarone Garibaldi, whom she shares with film producer Marco Garibaldi, will be a beneficiary of Lisa Marie's trust. Although it was initially reported that Priscilla would control Navarone's 1/9th stake, an amendment in the new docs reveal that it will be filed by attorney Martin Singer.
Riley will also pay $300,000 to cover Priscilla's legal fees relating to the petition. As part of the deal, Priscilla waives all rights to Lisa Marie's trust.
Priscilla was married to the Elvis, Lisa Marie's father, for six years from 1967 to 1973. The legendary musician, who never remarried or had more children, died in 1977. He was 42.
Lisa Marie died on Jan. 12, 2023. She was 54. In the aftermath of her death, a legal dispute ensued when Priscilla decided to contest "the authenticity and validity" of Riley's appointment as sole trustee following the death of her brother, Benjamin Keough. The Daisy Jones & the Six actress has since been officially named as the sole trustee of the estate of her late mother.
Now, Riley owns Graceland -- the home of Elvis, which he gave to Lisa Marie when he died -- in Memphis, Tennessee. According to reports, Priscilla's future gravesite on the property had been a point of contention in the negotiations.
The new docs confirm that, to the extent of Riley's authority, Priscilla may be buried in the Meditation Garden of Graceland in the location closest to Elvis without moving any existing gravesite. The "All Shook Up" singer is already buried between his grandmother, Minnie Mae, and his father, Vernon Presley. Elvis' mother, Gladys Presley, Lisa Marie and her son, Benjamin, who died in 2020, are also buried at the Meditation Garden.
Additional details regarding a future memorial service for Priscilla are also laid out in the documents. Riley agrees to include Navarone in the planning of a service at Graceland, as well as any person named as her executor and anyone in her will Priscilla desires to participate in the planning.
Back in August, Riley spoke about the legal dispute in a cover story for Vanity Fair.
"When my mom passed, there was a lot of chaos in every aspect of our lives. Everything felt like the carpet had been ripped out and the floor had melted from under us," the actress said. "Everyone was in a bit of a panic to understand how we move forward, and it just took a minute to understand the details of the situation, because it’s complicated. We are a family, but there’s also a huge business side of our family. So I think that there was clarity that needed to be had."
Riley continued, "There was a bit of upheaval, but now everything’s going to be how it was. She’s a beautiful woman, and she was a huge part of creating my grandfather’s legacy and Graceland. It’s very important to her. He was the love of her life. Anything that would suggest otherwise in the press makes me sad because, at the end of the day, all she wants is to love and protect Graceland and the Presley family and the legacy. That’s her whole life. So it’s a big responsibility she has tried to take on. None of that stuff has really ever been a part of our relationship prior. She’s just been my grandma."
That same month, Priscilla sat down for an interview with The Hollywood Reporter to discuss Sofia Coppola's upcoming film, Priscilla, based on her memoir, Elvis and Me.
"Riley is now the executor, which should be right, obviously, being her daughter," Priscilla told the publication. "Riley and I are on good terms. We were never not on good terms. That was all publicity. This is private and this is not something to fool around with and say that we’re not agreeing. In fact, I’m having dinner with [Riley] tonight. We understand what needs to be done. I’m there for her. She knows that. She wants me there for her to help her."
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