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Britney Spears' conservatorship has her sister becoming increasingly involved.
The pop star's younger sister, Jamie Lynn, is looking for more control in Britney's complex conservatorship in order to help her sister with her $57 million fortune, according to the Los Angeles Times.
Jamie Lynn revealed that she was the trustee of the SJB Revocable Trust, and asked in a court filing last week for the assets to be moved into one or more accounts with Fidelity Brokerage Services with her as the custodian. If this motion is approved, Britney's financial assets will be placed into these accounts. A judge's approval would be needed in order to remove them.
The BJS Kids & Family Trust was set up in 2004 to protect the pop star's fortune and to set up her kids' financial future. Britney shares Sean and Jayden Federline with Kevin Federline.
This amendment, which was made in 2018 and signed last week by Jamie Lynn, outlines instructions for Britney's wealth and assets in the event of her death. Co-conservators at the time, their father, Jamie, and attorney Andrew Wallet, signed off on this amendment two years ago.
While Britney is living, according to court documents, Britney is "sole beneficiary" of the SJB Revocable Trust.
When Britney dies, Jamie Lynn will get "the entire principal of the Trust, including all accused and undistributed and unrealized income," as per court documents obtained by Us Weekly. Additionally, this income will be added to "any insurance on the settlor's life or other assets payable to the Trust as a result of settlor's death [and will be] distributed by the Trustee to the trustee or co-trustee of the BJS Kids & Family Trust."
However, it appears that Jamie still wants to be in control of things for the "Toxic" singer. He requested that Wallet is reinstated to the conservatorship during a hearing this month. Wallet was involved from 2009 until last year, and Jamie had been the sole conservator since.
Jamie setup Britney's conservatorship in 2008 after her very public meltdown. Wallet stepped down as her conservator last year, and Britney's long-term care manager, Jodi Montgomery has been put in charge. Britney requested to remove her father from her conservatorship on August 18.
Jamie still has the power to negotiate business on Britney's behalf, file restraining orders, handle her health care, sell her property and restrict her interactions with others. However, Britney has been fighting back recently. She wants to keep Montgomery as the permanent conservator of her financial affairs, and desires a "qualified corporate fiduciary" to handle her finances instead of her father, Los Angeles Times revealed.
Britney's conservatorship has been extended another six months, as of August 21, according to Page Six.
Jamie Lynn previously spoke out about Britney's mental illness last month after a fan asked her why she never spoke about it.
"You have no right to assume anything about my sister, and I have NO right to speak about HER health and personal matters," Jamie Lynn fired back. "She is a strong, badass, unstoppable woman, and that's the only thing that is OBVIOUS."
