The 'Daisy Jones & The Six' star won a bittersweet legal victory on Friday.
Things were made official when a judge signed off on Riley's June petition to approve the settlement agreement reached between her, her grandmother, Priscilla Presley, and Michael Lockwood, the Guardian Ad Litem for her two younger siblings. The settlement terms, obtained by ET back in June, will see Riley serve as the sole trustee of her mother's estate and the sub-trusts for her sisters, 14-year-old twins Harper and Finley Lockwood.
For her part, Priscilla will serve as Trustee of the sub-trust for her son -- Lisa Marie's half-brother, Navarone Garibaldi -- who will be granted 1/9 of the Trust. The remaining 8/9 of the Trust will be split among Lisa Marie's daughters -- Riley, Finley and Harper.
Additionally, Priscilla will receive a lump sum, one-time payment from the Trust for an undisclosed amount, and will now serve as a "Special Advisor to the Trust," with Riley paying her an undisclosed monthly amount for the role.
Riley will own Graceland -- the home of Elvis Presley, which he gave to his daughter, Lisa Marie, when he died -- in Memphis, Tennessee, and will allow Priscilla to retrieve any personal belongings she has at Graceland or in any storage units controlled by Graceland.
Riley will also "to the extent of her authority" allow Priscilla to be buried on the property at Graceland's Meditation Garden upon her death. The doc notes that Priscilla's burial location "will be at the location closest to Elvis Presley without moving any existing gravesite."
Priscilla's future gravesite had reportedly been a point of contention in the negotiations, with TMZ reporting in May that she had requested to be buried next to her late ex-husband. However, Elvis is already buried between his grandmother, Minnie Mae, and his father, Vernon Presley. Elvis' mother, Gladys Presley, Lisa Marie and her son, Benjamin, who died in 2020, are also buried at the Meditation Garden.
Lisa Marie died on Jan. 12, 2023. She was 54.
Following her daughter's death, Priscilla decided to contest "the authenticity and validity" of Riley's appointment as sole trustee following Benjamin's death, claiming that "there are many issues surrounding" it. However, when they reached their agreement in May and later submitted it for formal court approval, Priscilla shut down any speculation of a rift between the family members.
"My family has resolved all confusion as it relates to our plea to the court and request for document interpretation after my daughter Lisa Marie's untimely passing," Priscilla said in a statement to ET. "Although some media identified such a plea as a lawsuit, I want to make clear that there was never any lawsuit filed against my beloved granddaughter."
"As a family, we are pleased that we resolved this together," she added. "My family and I hope that everyone will grant us the privacy we have needed to properly grieve Lisa Marie and spend personal time together. We love and appreciate all of you and the Presley family is stronger than ever."