Riley Keough Assumes Full Control of Lisa Marie Presley's Estate Following Agreement with Priscilla Presley

Riley Keough, daughter of Lisa Marie Presley, officially takes over her mother's multimillion-dollar estate.

The transfer of authority comes after an agreement was reached between Riley and her grandmother Priscilla Presley.

Riley, 34, files a petition in the Los Angeles court seeking approval for the settlement regarding the estate.

The settlement saves the beneficiaries from paying trustee fees to Priscilla and avoids costly litigation.

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

Riley's lawyer, Justin Gold, emphasizes that she will manage the money in a way that prioritizes the beneficiaries' needs.

Priscilla Presley, 78, is officially removed as the Trustee of Lisa's estate, but retains her role for other sub-trusts.

Navarone Garibaldi, Lisa's son, will receive a 1/9 share of the Trust, while the rest will be distributed among Riley, Finley, and Harper.