Jamie Lynn Spears, Britney Spears’ younger sister, filed necessary documents last week to gain more control over the singer’s property. As the trustee of her sister’s estate, Jaimie Lynn Spears asked for Fidelity Brokerage Services to manage the SJP Revocable Trust, with her as the custodian.
Before any money can be moved, a judge must sign off for approval. However, the young Spears’ proposal appears to resemble Britney’s earlier request to have her fortune oversaw by a corporate fiduciary rather than her father, James “Jamie” Spears.
When the young star’s sister was appointed trustee of the ” Oops!… I Did It Again” singer’s assets; it was agreed that upon Britney’s death, the 29-year-old former Nickelodeon actress would distribute her sister’s wealth to Britney Spears’ children, Sean Preston Federline and Jayden James Federline, Good Morning America stated.
Last week, a judge extended the terms of Spears’ conservatorship to 2021, leaving Jodi Pais Montgomery as the temporary conservator in place of Spears’ father. Britney had filed paperwork for Montgomery to take over the role permanently.
The pop singer’s attorney also asked the court to permanently allow a “qualified corporate fiduciary” preside over the singer’s estate. Currently, Jamie Spears is the sole financial conservator.
“Britney is strongly opposed to having James return as conservator … [and] strongly opposed to James continuing as sole conservator of her estate,” the filing read, adding that Spears is not “in any way waiving her right to seek termination” of the conservatorship in the future.
For over 10 years, the” Baby One More Time” singer has been under a conservatorship, which means she does not control her personal or financial property. Her court-appointed attorney stated in court documents earlier this month that phase one of the conservatorship was believed to be a “triage,” in which her conservators “rescued her from a collapse, exploitation by predatory individuals and financial ruin.” Phase two involved her return to performing; the document states that during the past few years, Spears was able to “regain her position as a world-class entertainer.” Although, early last year, the singer announced that she was going on an “indefinite work hiatus.”
“The third phase of the conservatorship reflects Britney’s stated desire not to perform at this time,” it read. “The conservatorship must be changed substantially in order to reflect the major changes in her current lifestyle and her stated wishes.”
