Riley Keough named sole trustee of Lisa Marie Presley's estate, owner of Graceland

LOS ANGELES (CNS) -- Riley Keough, the grandchild of Elvis Presley, on Friday was named the sole trustee of the estate of her late mother, Lisa Marie Presley.

The appointment was approved during a hearing Friday before Los Angeles Superior Court Judge Lynn Healey Scaduto.

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.

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.