Britney Spears' Sister Jamie Lynn's Seeks More Control Over Singer’s $57 Million FortuneAugust 27, 2020
Britney Spears is one of the most iconic and influential pop stars to ever grace the music industry. Her enormous discography of hits and substantial net worth are proof of her greatness, although her public personal struggles have caused significant controversy in her life, and still do today.
For over a decade, Britney Spears’ massive $57 million net worth had been under the control of a conservatorship run by her father. However, things changed in 2018, when Spears’ sister Jamie Lynn was named a trustee to Britney’s estate. Now, she’s seeking even greater control over her sister’s assets and is taking things to court.
Britney Spears has been in conservatorship for over a decade
After a string of highly publicized personal incidents in the late 2000s, Britney Spears was placed in an involuntary conservatorship. As a stipulation, Britney’s father Jamie was placed in control of her assets since 2008, although he temporarily stepped down from the role in 2019 due to health concerns, according to BBC.
Due to the length of the conservatorship, some have begun to question whether or not Britney has been forced into the arrangement against her will. Fans have begun to speak out against the conservatorship and have even started the #FreeBritney movement to protest the long-standing arrangement.
As the #FreeBriteny movement continued to grow in popularity, Jamie Spears made remarks in the New York Post chastizing it. He was quoted as saying: “All these conspiracy theorists don’t know anything. The world don’t have a clue.” He continued: “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 h*ll would I steal something?”
Jamie Lynn was appointed a trustee in 2018
Amidst the back and forth, Britney’s sister Jamie Lynn was appointed a trustee of the conservatorship in 2018. Her father, Jamie, and former co-conservator Andrew Wallet agreed to Jamie Lynn taking the position, according to The Blast.
Although Britney is the sole beneficiary of the money in her trust while she is alive, it is the trustee’s responsibility to ensure that Spears’ children receive the assets, should anything happen to her.
Jamie Lynn has requested complete access to the assets in the trust
Although there have not been any reported health issues with Britney, Jamie Lynn has requested that all assets of the SJB Revocable Trust be moved into accounts with Fidelity Brokerage Services, which Jamie Lynn controls. According to Yahoo, Britney’s mother Lynn Spears, has also requested to be included in any future hearings regarding Britney’s trust.
Britney seems determined to remove her father from the control of her conservatorship and her assets.
A court document obtained by BBC stated: “Britney is strongly opposed to James’ return as conservator of her person.” It continues: “We are now at a point where the conservatorship must be changed substantially in order to reflect the major changes in her current lifestyle and her stated wishes.”
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