The complicated legal entanglements of Britney Spears’ conservatorship are slowly coming to light.
Recently, the #FreeBritney movement has really picked up steam, coinciding with the singer’s recent filing to have her father Jamie Spears permanently removed from his role as conservator. But that doesn’t mean she wants all of her family to butt out of her business. In fact, according to legal documents obtained by The Blast, it seems like her sister Jamie Lynn might be taking on a bigger role!
The court documents revealed Jamie Lynn was actually named trustee of Brit’s “SJB Revocable Trust” back in 2018. The trust, which holds the pop star’s MASSIVE musical fortune and assets, was set up back in 2004 to protect her funds and provide for her sons Sean and Jayden Federline in the event of her death. The trust includes:
“All of my right, title, and interest in all my property. … My furniture and furnishings, clothing, jewelry, vehicles and accessories to vehicles, books, paintings, and other artwork, and other tangible articles of personal, domestic household, or recreational use or nature, together with any insurance on such property. … My stocks and securities of every kind and character. My cash and cash equivalents, including all bank accounts and savings accounts of any kind or character.”
Yep — sounds like the whole shebang!
Should Britney pass away, knock on wood, Jamie Lynn would be tasked with making sure all that cash goes to her nephews. Specifically, the documents read:
“Upon the settlor’s death, the entire principal of the Trust, including all accused and undistributed and unrealized income, together with any insurance on the settlor’s life or other assets payable to the Trust as a result of settlor’s death, shall be promptly distributed by the Trustee to the trustee or co-trustee of the BJS Kids & Family Trust, to be held, administered and distributed in accordance with its terms.”
The move to put little sis in charge was approved at the time by the Toxic singer’s co-conservators, Jamie and Andrew Wallet. But now, Jamie Lynn has apparently filed to have Britney’s assets placed in “blocked accounts” by Fidelity Financial Management, and have them serve as advisers for her investments.
Apparently, it’s unclear whether Jamie Lynn is requesting this change to occur now or if it’s meant to happen after Britney’s death. What we do know is that the 38-year-old has requested management of her finances be turned over to “a qualified corporate fiduciary appointed to serve in this role” instead of her father — and it seems like that’s what could be happening with the trust, too.
So, does this mean Jamie Lynn is trying to help her sister get out from under dad’s thumb? We can’t say for sure, but it certainly appears that way, doesn’t it?
We’ll DEFINITELY continue to keep an eye on this situation as it develops…
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