Britney Spears’ sister makes move to control pop star’s assets
Britney Spears’ sister Jamie Lynn Spears, who was selected as trustee of the pop superstar’s multimillion-dollar estate two years ago, is now seeking more control over the performer’s fortune amid an increasingly heated struggle over a complicated conservatorship.
In a court filing last week, Jamie Lynn Spears, a 29-year-old former Nickelodeon star, revealed that she was the trustee of the estate and asked that all the assets of the SJB Revocable Trust be moved into one or more accounts with Fidelity Brokerage Services with her as the custodian.
If approved, the move would put Britney Spears’ financial assets into those accounts and require a judge’s approval to remove them. The singer established the trust in 2004 to protect her children’s future. A 2018 amendment said that upon her death, the trustee — Jamie Lynn Spears — would administer the family’s assets for her children. Jamie Lynn Spears signed the document last week in Hammond, La.
The filing doesn’t explain what role it could play in the ongoing battle over the singer’s protracted conservatorship case — known in other states as a legal guardianship. That conservatorship was extended to 2021 even after the singer’s attorney told the court this month that she is “strongly opposed” to her father remaining the sole conservator of her personal and financial well-being.
According to Los Angeles County Superior Court records, James “Jamie” Spears, who has had broad authority over his daughter’s life since her breakdowns in 2008, requested the reappointment of attorney Andrew M. Wallet as a co-conservator of the singer’s person and estate.
Jamie Spears submitted additional documentation to continue the conservatorship, including checking a box saying that his 38-year-old daughter is “substantially unable to manage his or her financial resources or to resist fraud or undue influence.”
Wallet consented to act as the co-conservator in documents. He previously held the position from Jan. 5, 2009, until the court accepted his voluntary resignation on March 4, 2019. At the time, he said that the singer would suffer “substantial detriment, irreparable harm and immediate danger” if he didn’t step down.
Since then, Jamie Spears has been the sole conservator of his daughter’s estate, but she has recently attempted to curb that power.
The "... Baby One More Time” hitmaker has not had full control over her life or business affairs since her public unraveling, and her case has been complicated over the years while mostly concealed in probate court.
Britney Spears’ attorney has filed documents requested that Jodi Montgomery — the temporary, licensed professional conservator overseeing her case since September — be named permanent conservator of the entertainer’s personal affairs. As for her estate, the singer strongly opposed her father continuing in that capacity by himself and preferred to have a “qualified corporate fiduciary” appointed to serve in the role instead.
Britney Spears said that did not mean she would be waiving her right to seek an end to the entire arrangement. She also stated that she wants to stop performing. In January 2019, she abruptly canceled her “Britney: Domination” residency in Las Vegas before it even began, then checked into a mental health facility after revealing that her father was sick. She has not performed live since 2018.
Times staff writer Nardine Saad contributed to this report.
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