Riley Keough officially became the sole trustee of Lisa Marie Presley's estate following months of legal dealings with her grandmother, Priscilla Presley, the court documents revealed.
The court previously ruled that Lisa Marie's eldest daughter would give her grandmother a $1 million lump sum and $400,000 for the legal fees and costs following the settlement. Keough's twin half-sisters, on the other hand, hired a legal counsel as they requested guardian ad litem.
Riley Keough Is Lisa Marie Presley's Estate Sole Trustee
The court documents, obtained by People, confirmed that Keough had been officially named as the sole trustee of her late mother's estate after her legal dispute with Priscilla Presley.
A Los Angeles Superior Court judge approved the June settlement Keough proposed in June. After the Friday ruling, the 34-year-old "Daisy Jones & The Six" star will also preside over the sub-trusts assigned to Lisa Marie's twin daughters with Michael Lockwood: Finley and Harper.
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Judge Lynn H. Scaduto wrote in the filing that the settlement was created in the best interests of the twins, who are still minors. Their father, as Finley and Harper's guardian ad litem, approved the ruling by signing the documents on their behalf.
Following the development, Keough will be responsible for Elvis Presley's former estate, Graceland, as its owner. The late King of Rock and Roll gave the residence in Memphis, Tennessee, as a gift to Lisa Marie when he died in 1977.
Priscilla Presley Previously Challenged Validity of Lisa Marie Presley's Will
Lisa Marie Presley, 54, died on Jan. 12 following her second cardiac arrest at a medical facility. Her cause of death was recently determined because of "adhesions that developed after bariatric surgery years ago."
Her mother, Priscilla, filed a petition claiming that the late singer's will was invalid due to the amendment she was unaware of. Her lawyers said she only knew she was excised as the estate's trustee after Lisa Marie's death.
The initial documents listed Priscilla and Lisa Marie's former business manager, Barry Siegel, as co-trustees, but the amendment officially named Riley Keough and Benjamin Keough as the trustees.
