Actor Riley Keough has been named the sole trustee of Lisa Marie Presley’s estate.
Presley, Keough’s mother, died in January at the age of 54, from complications of weight loss surgery she had undergone years before.
According to court documents obtained by People magazine, a Los Angeles Superior Court judge officially approved a settlement that had been put forward by Ms Keough.
Ms Keough, 34, is the eldest grandchild of the late rock’n’roll icon Elvis Presley. She is best known for her roles in films such as American Honey, and TV series including The Girlfriend Experience and Daisy Jones & the Six.
Priscilla Presley, the ex-wife of Elvis and mother of Lisa Marie, had been involved in a dispute with Ms Keough over the future of the estate.
The new ruling will also see Ms Keough take control of the sub-trusts for Finley and Harper Lockwood, her 14-year-old half-sisters from Lisa Marie’s marriage to guitarist Michael Lockwood.
Lisa Marie and Mr Lockwood were married between 2006 and 2021; previously, the singer-songwriter had been married to Nicolas Cage (2002 to 2004), Michael Jackson (1994 to 1996) and Danny Keough (1988 to 1994), Riley’s father.
In the court document, judge Lynn H Scaduto wrote: “The settlement is in the best interests of minors Harper Lockwood and Finley Lockwood, and confirms that Michael Lockwood’s signature on their behalf, as Guardian Ad Litem, is valid and binding.”
Riley Keough and Sam Claflin in ‘Daisy Jones & The Six’— (Lacey Terrell/Prime Video)
The judge’s approval comes after Ms Keough filed a 73-page petition, having reached an agreement between her, Ms Presley and Mr Lockwood over the future of the estate.
The famous Graceland estate in Memphis, Tenessee, formerly owned by Elvis until his death in 1977, will now belong to his granddaughter.
Reports suggest that the agreement reached will allow Ms Presley to remain involved with the trust as a special advisor.
Last month, Ms Keough shared a tribute to her late mother, as well as her brother, Benjamin Keough, who died by suicide on 12 July 2020.
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