Britney Spears’ sister Jamie Lynn Spears has been placed in charge of the pop star’s fortune as she battles to regain control over her finances and her conservatorship. Fans of the singer continue to rally behind her with the hashtag #FreeBritney, to help end her father’s role as her conservator which granted him control over her life for more than a decade.
Earlier this month, Britney requested a judge to remove her father James Spears from the role but it was denied by a court in a recent hearing, and the conservatorship was extended till February 2021. While the battle ensues in the court, Britney’s sister Jamie Lynn has been placed in charge of the singer’s SJB Revocable Trust. She was appointed trustee of Britney’s trust in 2018 which was signed by their father and Britney’s former co-conservator Andrew Wallet.
Britney remains the sole beneficiary of the SJB Revocable Trust while she is living but after her death, Jamie will be responsible for ensuring her fortune is transferred into a trust benefiting the former’s children Sean and Jayden Federline. However, in a court filing last week, Jamie has requested the money to be moved into accounts for which she is the custodian. If approved, it would transfer the financial assets of the fund to those accounts and will require a judge’s signature to release them. Jamie has asked all the assets of SJB Revocable Trust be moved to Fidelity Brokerage Services, which she controls. The trust was fund was established by Britney in 2004 to protect her children's future.
James Spears has been in charge of Britney’s financial and career decisions for twelve years, though he temporarily stepped aside in 2019, during which time the singer’s manager Jodi Montgomery took over. Britney had petitioned for Montgomery to take over from her father 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.
(Source: BBC/Unilad)
