A judge has officially approved the settlement between Priscilla Presley and Riley Keough regarding the estate of Lisa Marie Presley, according to a report by Rolling Stone. The agreement, which was filed in Los Angeles County probate court, not only finalizes the financial terms but also addresses burial plans for Priscilla and the future involvement of her son, Navarone Garibaldi.

The un-redacted settlement states that Priscilla will be buried as close to Elvis Presley as possible at Graceland's Meditation Garden, without disturbing any existing gravesites. This arrangement honors Priscilla's connection to Elvis, ensuring that she will rest in a location of sentimental significance. Additionally, the settlement allows Navarone to participate in the memorial ceremony.

Financially, Priscilla will receive a lump-sum payment of $1 million from Lisa Marie's irrevocable trust, which was funded by a $25 million life insurance policy. This payout is in addition to a yearly payment of $100,000 that Priscilla will receive for her services as a "special advisor" to the Promenade Trust, which holds the family's shareholder interest in Elvis Presley Enterprises, Inc. The non-fiduciary role is set to last for 10 years or until Priscilla's death.

The settlement also includes a provision in which Riley Keough agrees to use her influence to prevent any litigation against Priscilla relating to her name, image, and likeness by Elvis Presley Enterprises, Inc. or any successor entity.

The parties involved in the settlement expressed their desire to avoid lengthy and costly litigation, stating in the paperwork that they wished to settle all disputes as a family. Priscilla's lawyer, Justin Gold, emphasized that this agreement saves significant legal fees and respects Lisa Marie's wishes.

In May, Priscilla resigned as co-trustee of Lisa Marie's irrevocable trust, receiving a one-time payment of $50,000. Riley Keough now serves as the sole trustee, with the shares distributed accordingly. Navarone will receive 1/9th of the life insurance trust, while Riley and Lisa Marie's half-sisters, Harper and Finley, will split the remaining 8/9ths.

The settlement was formally approved by the court, providing Priscilla and the family with a clear resolution in the estate matters. With the financial terms settled, the focus can now shift towards honoring the memory of Lisa Marie and supporting the ongoing legacy of the Presley family.

Lisa Marie Presley tragically passed away on January 12, 2023, at the age of 54. Her death was determined to be caused by complications from an obstruction in her bowel. Priscilla and Riley shared heartfelt tributes to the late singer during her memorial at Graceland.

As the Presley family moves forward, they express their gratitude for the support they have received and the love they have for one another. Privacy is requested as they continue to grieve and spend personal time together. The Presley family remains strong as they navigate this difficult time.

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