Riley Keough became the sole Trustee of the estate after an agreement with her grandmother Priscilla Presley

Lisa Marie Presley’s daughter Riley Keough has officially taken over the multimillion-dollar estate of her mother, after she and her grandmother Priscilla Presley reached an agreement about a month ago.

In documents seen by the news outlet PEOPLE, Riley, 34, petitioned the court to approve the settlement over the estate in documents that were filed in Los Angeles.

“The beneficiaries all save money that would have gone to Priscilla who was going to charge a trustee fee,” Riley’s lawyer Justin Gold said in the documents. 

“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.”


Riley is now also the sub-trusts for Harper and Finley Lockwood, her twin sisters, 14.

Gold stated that Riley will invest the money “in a manner consistent with the needs of the beneficiaries, and not influenced by the desire of a Trustee.”