Post by kittylady on Jun 15, 2023 3:51:57 GMT
Both of these articles are from People and I haven't seen anything anywhere else so make of that what you will...
Priscilla Presley's Son Navarone Garcia to Be Granted 1/9 of the Late Lisa Marie Presley's Trust
Riley Keough has become the sole trustee of Lisa Marie's estate, while Priscilla Presley will be trustee of Navarone Garibaldi Garcia's sub-trust
The late Lisa Marie Presley's half-brother Navarone Garibaldi Garcia — who has no relation to her father, Elvis Presley — is in line to be granted 1/9 of her trust, PEOPLE confirms.
The decision became public one month after Lisa Marie's daughter, Daisy Jones & the Six actress Riley Keough, and mother, Priscilla Presley, reached an agreement over the late singer's estate. According to documents obtained by PEOPLE, Riley, 34, has become the sole trustee of Lisa Marie's estate and has petitioned the court to approve last month's settlement agreement in papers filed Monday in Los Angeles.
Upon approval of the settlement, Riley — who will also become the trustee of the sub-trusts for her 14-year-old twin sisters, Harper and Finley Lockwood — will safeguard and invest the money “in a manner consistent with the needs of the beneficiaries, and not influenced by the desire of a Trustee,” her lawyer, Justin Gold, wrote in the documents.
Priscilla, 78, meanwhile, will be trustee of the 1/9 sub-trust for Navarone, 36, the documents state. The rest will be split among Riley, Finley and Harper, and Priscilla will receive a one-time, lump sum payment from the trust for an undisclosed amount.
Gold writes in the petition that Riley will not charge for her services as a trustee; therefore, “the beneficiaries all save money that would have gone to Priscilla who was going to charge a trustee fee."
In the documents, Gold adds: "In settling the claims pending in Priscilla's Petition, the parties are saving significant legal fees by avoiding litigation, and they are likewise avoiding the spectacle of intra-family litigation that would have been inimical to Lisa's wishes and not in the best interests of the family."
Per the documents, Priscilla was officially removed as trustee of her late daughter’s estate on May 11, and that change will remain in place whether Riley’s petition is approved or not, as Priscilla signed a settlement agreement.
Shortly after Lisa Marie's death in January, Navarone — whose father is producer Marco Garibaldi — spoke to PEOPLE about how his lineage had an impact on his upbringing.
"I got in trouble more than everybody else, because kids' parents would find out who my mom was, and they'd want a reason to talk to her," the musician said at the time. "I wasn't very comfortable with it."
Navarone grew up with both of his parents until they split in 2006 after 20 years as an unmarried couple. At 18, he distanced himself from the family in L.A. by moving nearly six hours away to Santa Cruz, where he later formed the band Them Guns.
By 2012, Navarone — who had been in another band as a teen — returned to L.A. to pursue music with Them Guns.
"I thought, 'OK, I'm going into the family business. I'll write a song, and then we'll start touring it,'" he told PEOPLE. "I didn't realize it takes way more than that."
At the time, he said he felt fortunate to have Priscilla's help and connections but urged that it's a "misconception that I was raised extravagantly with Elvis' estate and money ... That wasn't the case."
While Navarone's half-sister Lisa Marie also made a foray into the music business with the release of her debut album in 2003, the two weren't close in the years leading up to her death.
From his teen years, he struggled with addiction to heroin and fentanyl. He got clean in 2020, in part so he could visit his now wife Elisa (whom he married in 2022) in her home country of Switzerland.
Elsewhere in the interview, Navarone claimed he's close to Keough. "Riley has been so good with the twins," he noted, referring to Finley and Harper.
People - Lisa Marie's estate divided
To add a little context about Navarone and Lisa Marie "not being close" in the years before she died, here's some screenshots that were posted in a Reddit thread about this article.
Screenshots can be found in THIS thread on Reddit.
The second article.
Riley Keough to Pay Priscilla Presley $1 Million and $400K in Legal Fees to Settle Family Trust Suit
The 'Daisy Jones & the Six' actress is the sole trustee of her late mother Lisa Marie Presley's estate
As Riley Keough becomes the sole trustee of her late mother Lisa Marie Presley’s estate, she’ll give her grandmother Priscilla Presley a $1 million lump-sum payment as part of a previous settlement reached by the pair, court documents obtained by PEOPLE seem to indicate.
Riley, 34, and Priscilla, 78, reached an agreement in May, with lawyers saying at the time that terms of the settlement would be kept confidential. And while nearly all mentions of the payment are redacted in court documents filed Monday in Los Angeles, one line deep into the 95-page filing indicates the hefty price tag.
The documents state that a $400,000 payment Riley is to give Priscilla for legal fees and costs will come "at the same time as the one million payment as stated in Paragraph 6 of this Agreement."
The aforementioned Paragraph 6 mentions a sum to be paid to Priscilla by Riley, though the amount — which "shall be made within 10 days after Riley’s receipt of the life insurance proceeds" — is redacted. The $1 million amount was first reported by The New York Times.
In return for Priscilla resigning, Riley is to issue the payment “after receiving the proceeds of her mother’s life-insurance policy,” per the docs.
Riley on Monday petitioned the court to approve the May settlement agreement, with her attorney Justin Gold writing that if it’s approved, the Daisy Jones & the Six actress won’t charge for her services as a trustee, something he says Priscilla would have done.
Even so, the documents indicate that Priscilla was officially removed as Trustee of her late daughter’s estate on May 11, and that the change will remain in place whether Riley’s petition is approved or not, as Priscilla signed a settlement agreement.
Reps for Priscilla and Riley had no comment.
In the documents, Gold adds: "In settling the claims pending in Priscilla's Petition, the parties are saving significant legal fees by avoiding litigation, and they are likewise avoiding the spectacle of intra-family litigation that would have been inimical to Lisa's wishes and not in the best interests of the family."
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, and she’ll also safeguard and invest the money “in a manner consistent with the needs of the beneficiaries, and not influenced by the desire of a Trustee,” the petition says.
Priscilla, meanwhile, will be Trustee of the sub-trust of her son (and Lisa Marie’s half-brother) Navarone Garibaldi, who will be granted 1/9 of the Trust, the documents state. The rest will be split among Riley, Finley and Harper.
Lisa Marie died in January at age 54.
The Times reported that the Elvis brand continues to generate more than $100 million a year, and that the Presley family share of that money is “funneled” to Promenade Trust.
People - Priscilla accepts settlement
Priscilla Presley's Son Navarone Garcia to Be Granted 1/9 of the Late Lisa Marie Presley's Trust
Riley Keough has become the sole trustee of Lisa Marie's estate, while Priscilla Presley will be trustee of Navarone Garibaldi Garcia's sub-trust
The late Lisa Marie Presley's half-brother Navarone Garibaldi Garcia — who has no relation to her father, Elvis Presley — is in line to be granted 1/9 of her trust, PEOPLE confirms.
The decision became public one month after Lisa Marie's daughter, Daisy Jones & the Six actress Riley Keough, and mother, Priscilla Presley, reached an agreement over the late singer's estate. According to documents obtained by PEOPLE, Riley, 34, has become the sole trustee of Lisa Marie's estate and has petitioned the court to approve last month's settlement agreement in papers filed Monday in Los Angeles.
Upon approval of the settlement, Riley — who will also become the trustee of the sub-trusts for her 14-year-old twin sisters, Harper and Finley Lockwood — will safeguard and invest the money “in a manner consistent with the needs of the beneficiaries, and not influenced by the desire of a Trustee,” her lawyer, Justin Gold, wrote in the documents.
Priscilla, 78, meanwhile, will be trustee of the 1/9 sub-trust for Navarone, 36, the documents state. The rest will be split among Riley, Finley and Harper, and Priscilla will receive a one-time, lump sum payment from the trust for an undisclosed amount.
Gold writes in the petition that Riley will not charge for her services as a trustee; therefore, “the beneficiaries all save money that would have gone to Priscilla who was going to charge a trustee fee."
In the documents, Gold adds: "In settling the claims pending in Priscilla's Petition, the parties are saving significant legal fees by avoiding litigation, and they are likewise avoiding the spectacle of intra-family litigation that would have been inimical to Lisa's wishes and not in the best interests of the family."
Per the documents, Priscilla was officially removed as trustee of her late daughter’s estate on May 11, and that change will remain in place whether Riley’s petition is approved or not, as Priscilla signed a settlement agreement.
Shortly after Lisa Marie's death in January, Navarone — whose father is producer Marco Garibaldi — spoke to PEOPLE about how his lineage had an impact on his upbringing.
"I got in trouble more than everybody else, because kids' parents would find out who my mom was, and they'd want a reason to talk to her," the musician said at the time. "I wasn't very comfortable with it."
Navarone grew up with both of his parents until they split in 2006 after 20 years as an unmarried couple. At 18, he distanced himself from the family in L.A. by moving nearly six hours away to Santa Cruz, where he later formed the band Them Guns.
By 2012, Navarone — who had been in another band as a teen — returned to L.A. to pursue music with Them Guns.
"I thought, 'OK, I'm going into the family business. I'll write a song, and then we'll start touring it,'" he told PEOPLE. "I didn't realize it takes way more than that."
At the time, he said he felt fortunate to have Priscilla's help and connections but urged that it's a "misconception that I was raised extravagantly with Elvis' estate and money ... That wasn't the case."
While Navarone's half-sister Lisa Marie also made a foray into the music business with the release of her debut album in 2003, the two weren't close in the years leading up to her death.
From his teen years, he struggled with addiction to heroin and fentanyl. He got clean in 2020, in part so he could visit his now wife Elisa (whom he married in 2022) in her home country of Switzerland.
Elsewhere in the interview, Navarone claimed he's close to Keough. "Riley has been so good with the twins," he noted, referring to Finley and Harper.
People - Lisa Marie's estate divided
To add a little context about Navarone and Lisa Marie "not being close" in the years before she died, here's some screenshots that were posted in a Reddit thread about this article.
Screenshots can be found in THIS thread on Reddit.
The second article.
Riley Keough to Pay Priscilla Presley $1 Million and $400K in Legal Fees to Settle Family Trust Suit
The 'Daisy Jones & the Six' actress is the sole trustee of her late mother Lisa Marie Presley's estate
As Riley Keough becomes the sole trustee of her late mother Lisa Marie Presley’s estate, she’ll give her grandmother Priscilla Presley a $1 million lump-sum payment as part of a previous settlement reached by the pair, court documents obtained by PEOPLE seem to indicate.
Riley, 34, and Priscilla, 78, reached an agreement in May, with lawyers saying at the time that terms of the settlement would be kept confidential. And while nearly all mentions of the payment are redacted in court documents filed Monday in Los Angeles, one line deep into the 95-page filing indicates the hefty price tag.
The documents state that a $400,000 payment Riley is to give Priscilla for legal fees and costs will come "at the same time as the one million payment as stated in Paragraph 6 of this Agreement."
The aforementioned Paragraph 6 mentions a sum to be paid to Priscilla by Riley, though the amount — which "shall be made within 10 days after Riley’s receipt of the life insurance proceeds" — is redacted. The $1 million amount was first reported by The New York Times.
In return for Priscilla resigning, Riley is to issue the payment “after receiving the proceeds of her mother’s life-insurance policy,” per the docs.
Riley on Monday petitioned the court to approve the May settlement agreement, with her attorney Justin Gold writing that if it’s approved, the Daisy Jones & the Six actress won’t charge for her services as a trustee, something he says Priscilla would have done.
Even so, the documents indicate that Priscilla was officially removed as Trustee of her late daughter’s estate on May 11, and that the change will remain in place whether Riley’s petition is approved or not, as Priscilla signed a settlement agreement.
Reps for Priscilla and Riley had no comment.
In the documents, Gold adds: "In settling the claims pending in Priscilla's Petition, the parties are saving significant legal fees by avoiding litigation, and they are likewise avoiding the spectacle of intra-family litigation that would have been inimical to Lisa's wishes and not in the best interests of the family."
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, and she’ll also safeguard and invest the money “in a manner consistent with the needs of the beneficiaries, and not influenced by the desire of a Trustee,” the petition says.
Priscilla, meanwhile, will be Trustee of the sub-trust of her son (and Lisa Marie’s half-brother) Navarone Garibaldi, who will be granted 1/9 of the Trust, the documents state. The rest will be split among Riley, Finley and Harper.
Lisa Marie died in January at age 54.
The Times reported that the Elvis brand continues to generate more than $100 million a year, and that the Presley family share of that money is “funneled” to Promenade Trust.
People - Priscilla accepts settlement
