Riley Keough and Priscilla Presley's settlement is approved by judge which ... trends now
The two had reached a settlement agreement months ago which resulted in the 34-year-old Daisy Jones And The Six actress becoming sole trustee of her late mother's estate and owning the iconic Memphis, Tennessee mansion Graceland.
The 78-year-old former Mrs. Elvis Presley will receive a $1million lump-sum payments which were funded by Lisa Marie's life insurance policy in the settlement recently officially approved by a Los Angeles Superior Court judge according to documents obtained by People.
In addition her son Navarone Garibaldi will be a beneficiary of Lisa Marie's trust as well and perhaps most importantly of all, Priscilla will be buried near her ex Elvis at Graceland when she passes away.
Terms of the settlement have been reported over the past few months but the weekly publication had obtained a unredacted copy of the agreement after Riley's attorney Justin Gold filed for it.
Peace: Elvis Presley's granddaughter Riley Keough and ex-wife Priscilla Presley 's settlement has been approved by a judge ten months after Lisa Marie Presley's death; Priscilla, Lisa Marie, and riley are seen left to right in Los Angeles back in May 2015
Terms: The two had reached a settlement agreement months ago which resulted in the 34-year-old Daisy Jones And The Six actress becoming sole trustee of her late mother's estate and owning the iconic Memphis mansion Graceland; they are seen together in May 2016
People reports that in addition to the aforementioned lump-sum payment, Priscilla will also be paid $100K-a-year for her role as a special advisor 'for her role as special advisor of the promenade trust related to its shareholder interest in Elvis Presley Enterprises, a non-fiduciary role.'
According to the paperwork, those payments will be dispersed in monthly installments which are guaranteed for 10 years or Priscilla's death regardless whether or not Riley ever terminates Priscilla's special advisor role.
Lisa Marie died back in January after suffering cardiac arrest at her Calabasas, California home.
It was later found that she died from a 'small bowel obstruction' caused by a bariatric surgery that she had undergone according to the autopsy.
Back in August, Riley was named the sole trustee of the family estate as she now owns Graceland, after a battle with her grandma Priscilla.
Her grandmother had filed a petition to challenge the validity of her late daughter Lisa Marie Presley's will in January
The two had been at loggerheads since the death of Lisa Marie in January of this year at the age of 54. Riley is Elvis' oldest surviving grandchild; her brother Benjamin killed himself three years ago and she has two 14-year-old