Wendy Williams Breaks Down Over Not Having Any Money in Doc Trailer

A new documentary about Wendy Williams is alarming fans -- 'cause she seems to be signaling she's been going through a lot of financial hardships, among other issues.

The first trailer for the Lifetime doc -- "Where is Wendy Williams?" -- dropped Friday ... and it shows the reclusive TV personality apparently saying she has "no money" before pulling a throw pillow close and letting the tears flow.

Remember ... Wendy Williams was placed in a financial guardianship back in 2022 after Wells Fargo claimed she was a "victim of undue influence and financial exploitation" -- a move her family repeatedly rails against in the clip ... including WW's sister who demands to know how she's not fit to take care of her sis.

On the other hand, her son Kevin Hunter Jr. says he thinks she's surrounded by "yes people" in this trailer -- people he says don't actually look out for her best interests ... so there's clearly a difference of opinion among Wendy's own family, at least that's what the doc suggests.

Members of her inner circle are also seen in this trailer expressing other concerns, including one man who confronts Wendy with a nearly-empty bottle of booze ... one Wendy appears to admit she downed in a single day while stretched out in bed, bathrobe still on.

Williams also comes across as confused at her surroundings at times in the doc's first trailer ... apparently causing concern among the people around her she's losing her memory. Her wide-eyed, almost surprised look at times adds further fire to these speculations.

Wendy's overall health does, in fact, seem to be poor at times, too ... she's wheeled out of a hospital on multiple occasions in the trailer and seems almost incapable of walking by herself when stepping out of an SUV.

Ultimately, the trailer seems to end on a hopeful note ... Williams seemingly expresses interest in reconnecting with her estranged family and recognizing the detriment of having certain business associates in her life. The full thing airs in a two-part special on Lifetime later this month ... Feb. 24 and Feb. 25 at 8 PM ET/PT, so more will be answered then.

We haven't seen Wendy out much in the past year or so ... outside of a paparazzi interaction last February where Williams claimed she was 138 pounds -- a moment that makes it in the trailer BTW -- and a couple pics of her on the street, she's mostly stayed out of the public eye.

Wendy dropped out of several speaking engagements in May ... before reportedly heading to treatment to deal with issues she was allegedly battling.