Britney Spears’ Sister Jamie Lynn Named Sole Trustee To Her Fortune
Britney Spears’ sister Jamie Lynn has been placed in charge of the pop star’s fortune as she battles her conservatorship.
The hashtag #FreeBritney continues to flood social media as fans rally around the singer to help end her father’s role as her conservator, which has granted him control over her life for more than a decade.
Britney requested a judge remove her father, 68-year-old Jamie Spears, from the role earlier this month, but this was denied by a court in a recent hearing, and ruled the conservatorship would be extended to February 2021.
While the battle goes on, Zoey 101 star Jamie Lynn has been placed in charge of Britney’s SJB Revocable Trust, according to court documents obtained by Entertainment Tonight.
The documents state that Jamie Lynn was appointed trustee of Britney’s trust in 2018, and the appointment was signed off by their father Jamie, and Britney’s former co-conservator Andrew Wallet.
While she is living, Britney remains the sole beneficiary of the SJB Revocable Trust, but as trustee Jamie Lynn will be responsible for ensuring her sister’s fortune is transferred into a trust benefiting Britney’s children Sean and Jayden Federline, in the event of her death.
Jamie Lynn has reportedly requested that the court authorise Fidelity Financial Management to serve as a financial adviser and create a ‘blocked account’ to hold her older sister’s assets.
The court documents explain:
The entire principal of the Trust … shall be promptly distributed by the Trustee to the trustee or co-trustees of the BJS Kids & Family Trust, to be held, administered and distributed in accordance with its terms.
The SJB Trust was set up in 2004 to protect Britney’s fortune, and four years later the singer was placed under conservatorship after she was put on a 5150 involuntary psychiatric hold at UCLA.
Just one month after the conservatorship began, Britney was back at work, appearing as a guest star on TV shows, opening the MTV Video Music Awards and releasing new music – events which led fans to believe she was being exploited and which in turn spurred the #FreeBritney movement.
Jamie Spears was in charge of many of Britney’s financial and career decisions for twelve years, though he temporarily stepped aside from the role in 2019, during which time Britney’s manager Jodi Montgomery took over.
Britney asked for Montgomery to remain in control, and to maintain the right ‘to seek termination of this conservatorship in the future’, but her conservatorship remained unchanged and was extended through to February 1, 2021.
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