"Word is, Priscilla will be getting millions from the trust," an insider spilled. "Riley agreed to allow Priscilla a payout and a say in what happens in the trust. She believes Lisa Marie would’ve wanted her mom to be taken care of."
The legal drama started after the former wife of Elvis filed a petition questioning the "authenticity" of an amendment made to Lisa Marie's will that removed both Priscilla and ex business manager Barry Siegel as co-trustees, replacing them with Riley and her brother, Benjamin, who tragically died by suicide in 2020.
"Riley was shocked," the insider added of Priscilla's legal move. "Not only were they grieving over the loss of Lisa Marie, but the family was being torn apart by Priscilla’s legal challenge."
Aside from her court battle with Priscilla, the mother-of-one — who shares a young daughter with husband Ben Smith-Petersen — also reportedly felt uncomfortable with the fact that her mother's estranged ex-husband, Michael Lockwood, was awarded custody of their 14-year-old twins, Finley and Harper, feeling it wouldn't be what Lisa Marie would have wanted.
Although Lisa Marie "hated Michael with a passion" after their tumultuous split, Priscilla had continued to keep "in touch" with the guitarist over the years, which caused the mother-daughter duo's relationship to drift apart.
- Priscilla Presley and Riley Keough End War Over Lisa Marie's Trust After Family Feud: 'Everyone is Happy'
- Priscilla Presley Insists Elvis 'Would Be Proud' of Settlement With Riley Keough After Lisa Marie's 'Devastating' Passing
- Priscilla Presley & Riley Keough Not On Speaking Terms As Lisa Marie's Mom Fights For Her Estate: Source
The insider noted Priscilla and her daughter's bond became "testy" in the years prior to Lisa Marie's tragic passing and that they did not "see eye to eye."
However, Riley and her mom were always "very close," with the insider elaborating that the pair had been "more like friends than mother and daughter."
As OK! previously reported, Lisa Marie was rushed to the hospital on Thursday, January 12, after she was found unresponsive in her home following a cardiac arrest. Later that night, Priscilla confirmed her daughter had passed away.
"It is with a heavy heart that I must share the devastating news that my beautiful daughter Lisa Marie has left us," the statement read. "She was the most passionate, strong, and loving woman I have ever known. We ask for privacy as we try to deal with this profound loss. Thank you for your love and prayers."
Never miss a story — sign up for the OK! newsletter to stay up-to-date on the best of what OK! has to offer. It’s gossip too good to wait for!
The insider spoke with Star magazine on Priscilla allegedly inheriting millions from Lisa Marie's estate.