Riley Keough, daughter of Lisa Marie Presley, has officially assumed control of her mother's multimillion-dollar estate.

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Riley and her grandmother Priscilla Presley reached an agreement about a month ago, as documented in court filings in Los Angeles.

The settlement allows all beneficiaries to save money that would have otherwise gone towards trustee fees for Priscilla.

By avoiding litigation and intra-family disputes, the parties honored Lisa's wishes and acted in the best interests of all involved.

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

Riley's lawyer, Justin Gold, emphasized that she will invest the money in a manner that prioritizes the needs of the beneficiaries.

Garibaldi will receive 1/9 of the Trust, while the remaining assets will be distributed among Riley, Finley, and Harper.

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Priscilla will receive an undisclosed lump sum, a one-time payment for her involvement with the trust.