The appointment was approved during a hearing Friday before Los Angeles Superior Court Judge Lynn Healey Scaduto.
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Keough, Lisa Marie Presley's eldest daughter, had filed a 73-page petition on June 12 in support of her bid for the appointment to head what the family has dubbed the Promenade Trust. Keough had earlier reached a settlement agreement with her grandmother, Priscilla Presley, and Michael Lockwood, the guardian ad litem for her two younger half-siblings, 14-year-old twins Harper and Finley Lockwood. Lockwood was Lisa Marie Presley's fourth husband before they divorced.
The 34-year-old Keough, whose full name is Danielle Riley Keough, also will preside over the sub-trusts for her half-sisters. Priscilla Presley will be a special adviser to the trust and receive a monthly payment for her role. Priscilla Presley also will be allowed to be buried at Graceland, the Memphis, Tennessee former home of Elvis Presley, which Keough will now own.
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Keough recently starred in the Amazon Prime miniseries "Daisy Jones & the Six."
Lisa Marie Presley died Jan. 12 at age 54. She had been hospitalized after suffering cardiac arrest at her Los Angeles residence.