Lisa Marie Presley filed for divorce from her husband because he "took advantage" of her money.

Lisa Marie Presley

Lisa Marie Presley

The 'You Ain't Seen Nothin' Yet' hitmaker called time on her marriage to Michael Lockwood earlier this month and her legal team have now revealed why the couple - who have seven-year-old twins Harper and Finley together - decided to go their separate ways.

Her lawyer Ronald Litz said: "They're not trying to work it out and get back together. She's done ... He apparently was in charge of her assets throughout the marriage and didn't do what he should have done on a fiduciary basis ... 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. I absolutely believe that what we're asking for [full custody] is necessary."

And the 48-year-old singer songwriter - who also has Riley, 27, and Benjamin, 23, with her ex-husband Danny Keough - is unsure how her estranged husband will take the news as he moved out of the family home "at least a month" ago and hasn't been able to be located since.

Litz added to PEOPLE magazine: "She doesn't know what his reaction is going to be to this ... It's tough on her, but she's going to get through it. There's so much stress and nonsense that goes on during divorce. But she'll be fine ultimately."

Lisa initially filed for a divorce citing irreconcilable differences but has now changed it to a legal separation, although her lawyer insists it is purely for legal purposes rather than a sign they might rekindle their romance one day.