While Elle Fanning is on the road to becoming Hollywood's new "It" girl, Dakota Fanning is "done with Los Angeles" and plans to lead a separate life from her sister, RadarOnline reports.

"They have something of a peace treaty, in the sense that Elle gets L.A. to herself, while Dakota is much happier in New York. Dakota is living off of the fortune she made as a child actor, instead of chasing after every big job under the sun," a source told Radar. "Elle is the more ambitious one. Dakota is the one who could quit acting to start a band at the drop of a hat. Dakota is completely unimpressed with the red carpet culture in Hollywood, while Elle totally worships it."

Elle, 15, and Dakota, 19, live on separate costs already and lead very different lives, having been creating their own identities apart from one another over the past few years. Seeing as Dakota has already had her taste of Hollywood as a child star, it makes sense that she's ready to step aside to let teenage Elle try her hand at it.

Not only does Elle have at least four major film projects lined up for 2014, she recently became friends with Angelina Jolie on the set of "Maleficient," and as a source recently told Star magazine, "Angie's decided to take Elle under her wing."