Britney Spears’ Sister Jamie Lynn Spears Named Trustee Over Pop Star’s Fortune
Britney Spears‘s younger sister, Jamie Lynn Spears has now been named the trustees of the pop stars multi- million dollar trust.
Jamie Lynn Spears was given the role of trustee in 2018, and the move was signed off by her co-conservators Andrew Wallet, and their father Jamie Spears.
Both Jamie Spears, and Andrew Wallet have stepped down from the role, and have all agreed that Jamie Lynn Spears is the best for the job. This news comes after reports stated that Britney Spears legally requested that her father Jamie Spears, be removed as her conservator. Her father has been her conservator for the last 12 years, making most of her legal and career decisions for her, after her 2008 hospitalization for mental health.
Britney Spears is now the “sole beneficiary” of her money and trust while she’s alive. With Jamie Lynn Spears as trustee, it makes it her responsibility to make sure that, in the event something happens to Britney Spears, her children receive her assets. Britney is mom to sons Preston, 14, and Jayden, 13 that she shares with her with ex-husband Kevin Federline.
As of December, Britney Spears has an estimated worth of $57.4 million.
For the time being, all of Britney’s money is in the SJB Revocable Trust that was created in 2004. Jamie Lynn Spears is asking that all of the funds be relocated to Fidelity Brokerage Services, with her listed as custodian.
Britney’s mother, Lynn Spears reportedly, requested to be included in all future hearings regarding her daughter’s trust last month.
Although Jamie Lynn is the newly appointed trustee of Britney Spears’ assets, it seems as though Britney is not happy about the move, reportedly stating that she would like for Jodi Montgomery, to take over the role permanently and is “strongly opposed” to her father returning to the role. Jodi Montgomery stepped in to fill the role while her father temporarily stepped away for health reasons last year.
Against Britney’s wishes, a judge ruled on Aug. 21 that her father will remain in his post at least for another 6 months.
The legal guardianship was enacted in 2008 after Britney Spears had gone through some very public mental health struggles and infamously shaved her head and smashed a photographer’s car with an umbrella. This arrangement put her estate, financial assets, and personal assets under the control of her father Jamie Spears, and a lawyer. The agreement was extended to August 22 earlier this year.
The conservatorship has always been very controversial amongst her fans, as some believe the agreement is being used to manipulate and control the pop icon and her net worth.
These concerns have fueled the #FreeBritney movement, but over the years, those closest to her have denied those claims and say that she is very involved in her business decisions.
Britney’s father Jamie Spears has recently denied the claims of manipulation, deeming them “a joke”. On July 29, Jamie did an interview with the NY Post where he stated,
“All these conspiracy theorists don’t know anything. The world don’t have a clue. It’s up to the court of California to decide what’s best for my daughter. It’s no one else’s business. I have to report every nickel and dime spent to the court every year, how the hell would I steal something? People are being stalked and targeted with death threats, it’s horrible. We don’t want those kinds of fans. I love my daughter, I love all my kids. But this is our business. It’s private.”
What are your thoughts on Jamie Lynn Spears being in charge of her sister’s assets? Let us know your thoughts in the comments!