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Lisa Marie Presley files for divorce

The famed heiress and daughter of Elvis Presley, Lisa Marie Presley, filed for divorce following her 10-year marriage to Michael Lockwood. Presley, who is believed to be worth hundreds of millions of dollars, cited irreconcilable differences in the divorce filing as the reason for the breakup. The official date of separation in the divorce has been listed as June 13.

Presley has requested the court to grant her full custody of she and Lockwood's twin daughters. Presley has also requested that Lockwood only be granted monitored visitation of the 7-year-old girls.

Lockwood and Presley were married in January 2006 in Japan. Sources indicate that they entered into a postnuptial agreement. However, the divorce papers filed by Presley did not indicate any plans with regard to property division.

Presley's divorce filing this month represents her fourth divorce. She was first married to Danny Keough in 1988 -- a marriage that ended in 1994. Then, she married Michael Jackson in 1994 and divorce him in 1996. Next, she was married to Nicholas Cage in 1994 and stayed married to him for another two years.

As her most enduring marriage, it is sad to see that Presley's current partnership has also come to an end. However, if the terms of her postnuptial agreement spell out details relating to asset division and child custody, the divorce process could go smoothly for the heiress.

It is never too late for couples in Tennessee or elsewhere to pin down the terms of a postnuptial agreement to be carried out in the event they decide to divorce. Couples who are planning to get married may also wish to sign a prenuptial agreement. These legal documents are a great way to ensure that a breakup -- should one ever be required -- will be as stress-free and peaceful as possible.

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