Ladies and gentlemen..Michael Lockwood has left the building! More Details on Lisa Marie Presley's Divorce

TMZ  reports Lisa Marie Presley filed for divorce in part because she believes her husband has played fast and loose with her money.

Her lawyer, Ron Litz, says Michael ran the finances during their marriage and she didn't monitor any of it, including the Elvis money that came in.

We're told when the relationship started getting rocky, she noticed things ... in particular an enormous American Express bill ... more than $109,000. Shortly after she spotted the charge, AmEx sued her.

We're told Lisa Marie's legal team has now opened a forensic audit to determine where all the money went during their marriage.  

As we reported, the couple had a postnup. We're told that document makes it clear ... all the Elvis money is hers. 

We made several attempts to reach Michael, with no luck.

PEOPLE magazine says her lawyer says they've since updated the petition to instead request legal separation,  it's only due to a legal formality and there's no going back for the singer. 


"They're not trying to work it out and get back together," her lawyer Ronald Litz tells PEOPLE. "She's done."  


As for why Presley is calling it quits, Litz says it's two-fold, having to do with the couple's finances and their kids.

"He apparently was in charge of her assets throughout the marriage and didn't do what he should have done on a fiduciary basis," Litz explains. 

The couple did not have a prenuptial agreement, though at one point they did draw up a postnuptial agreement. Still, the lawyer claims, "He took advantage of her." 


"there are some problems with him being a good father, in terms of what a father is supposed to do," says Litz, adding that her request for full custody seems warranted. "I absolutely believe that what we're asking for is necessary." 

Despite the news of the split, Litz says the couple hasn't actually spoken about the impending divorce. "She doesn't know what his reaction is going to be to this," says the lawyer,

adding that it's been "at least a month" since Lockwood moved out of their home and Presley has been unable to locate his new residence in order to serve him. 

"It's tough on her, but she's going to get through it," says Litz of the latest split. "There's so much stress and nonsense that goes on during divorce. But she'll be fine ultimately."

BIM-  Here's what Lisa should do, go the Mariah Carey route, find herself a BILLIONAIRE. Then she doesn't have to worry if they are with her for money. Someone not in the music business, a guy a little submissive because Lisa is a strong woman. Go on his yacht for the summer like Mariah! And be treated exactly how her daddy would want and EXPECT her to be treated!

They had 10 years and that's a good run. So Wendy Williams and people on social media should look in their own closets before judging. It's not easy being the daughter of Elvis Presley and Priscilla Presley. That comes with a lot of pressure and doubts.

And those who criticize Lisa for "LETTING" him manage money,  he could have done a lot behind her back without her knowing. She would constantly have to be looking over credit reports, bills etc. And who does that in a marraige? It would have caused more problems.

Lisa is entitled to TRUST HER HUSBAND as MOST WOMEN DO. Lisa is human and she deserves a NORMAL LIFE. So shame on those who judge her!

Lisa has NEVER lived like a KARDASHIAN. Her life is pretty simple and not ROCK STAR.

Her family means the most to her, not fancy houses, expensive clothes and jewelry.

You don't see Lisa or her kids posting pics in a metallic Telsa or bedazzled Range Rover.

So those who say she lives like Elvis, YES and NO! She lives simple like her daddy YES!

But that's about it. And regardless, Elvis adored Lisa and he would want her to spend the money on her family and herself ANY WAY SHE WANTED!

Elvis probably would have wanted her to spend MORE MONEY!

If this story is true, shame on ML for spending Lisa's money from the estate. There's many fancy guitar pics on his site maybe paid for courtesy of Elvis and Lisa. We will have to chalk him up to the same as the many friends who used Elvis in life and still in death.

Shame! That money is for PRESLEY family, Lisa and her kids. Not HIM!

There's A LOT MORE going on here than WE know.

Lisa is VERY PRIVATE. And I don't blame her. It has to be very difficult to be Lisa. I have seen some nutty people approach her. She can't trust anyone just like her daddy.

I admire Lisa for doing all she can to protect her little girls. This is a very difficult situation. My prayers go out to those little girls right now.

Just remember there is more to this than we know. Read the facts and it's pretty clear Lisa is doing the right thing.