Smith, a Playboy model and reality TV star, had married Marshall at the age of 26 the year before his death.
When Marshall died, on paper, he didn't leave his bride a thing. But Smith claimed he verbally promised her a share of his estate, about $300 million worth.
A Texas state court ruled against Smith, saying she should receive nothing, then a federal bankruptcy court in L.A. later awarded her $474 million. A federal trial court later reduced that to $89 million.
Now that it's finally over, the two people initially involved in the court battle are both dead.
E. Pierce Marshall died in 2006, and Smith died at the age of 39 of an accidental prescription drug overdose in 2007.
After Friday's ruling, lawyers for the son's estate say they hope the litigation is finally over. In a statement issued on Friday, the Marshall family said, "Our only wish would be that Pierce were here to see his vindication."
Kent Richard, who represents the Smith estate, says he will appeal the latest ruling, but said he hasn't decided whether to ask the appeals court for another hearing or take the case back to the U.S. Supreme Court regarding different issues.
The Associated Press contributed to this story.