Britney Spears's younger sister Jamie Lynn seeks to move assets from her trust fund after filing court papers
Since the pop star Britney Spears's highly publicized conservatorship hearing was delayed till February 2021, it has now emerged that her sister, Jamie Lynn Spears, will be overseeing details of the singer's multi-million dollar estate after she filed court papers seeking to move those assets. The 29-year-old actress-singer, Lynn, was nominated as a trustee of Britney's trust fund in 2018, which means that she will eventually be responsible for ensuring that Britney's teenage sons, Jaden and Preston, receive the bulk of her wealth, in the event that anything happens to Britney. The 38-year-old pop idol currently has an estimated fortune of close to 57.4 million dollars, as determined in December last year.
However, Britney still remains the sole beneficiary of her trust fund (created in 2004 for her sons) while she's alive. Lynn filed papers in a Hammond, Louisiana, court last week that revealed that she had been appointed as the trustee of her sister's financial estate and that she wanted to move the assets to another location. Court documents revealed Lynn's request for "assets of the SJB Revocable Trust be moved into one or more accounts with Fidelity Brokerage Services with her as the custodian". However, this request is still pending court approval, as the assets cannot be moved without a judge's ruling on the matter. But this is a minor detail, and it appears to be a mere formality at this point.
(Getty Images)
According to an unnamed source close to the singer, "Britney trusts Jamie Lynn and knows that she is extremely responsible and reliable. It makes sense that she would be the trustee." The insider also added, "Jamie Lynn is very loyal and protective of Britney. There's no doubt she always has Britney's best interest at heart. They are best friends and [she's] Britney's closest confidant." The friend concluded, "She is the perfect person to make financial decisions should anything happen to Britney."
However, Britney's protracted conservatorship hearing is another matter altogether, since the singer is strongly opposed to her father, James Spears, continuing to serve as her conservator, a position he has already held since 2008. James was originally Britney's co-conservator along with the attorney Andrew M Wallet, but the latter stepped down from the position in March 2019, citing "substantial detriment, irreparable harm, and immediate danger". This meant that James was Britney's sole conservator and in charge of her personal and financial affairs as a legal caregiver. However, due to health issues, her father had to step down as well in September 2019, and a licensed professional, Jodi Montgomery, was appointed as the singer's temporary conservator.
According to a recent request by Britney's attorney, Samuel D Ingham III, the singer no longer needed her father James to be in charge of her affairs, and actually wanted Montgomery to remain as her conservator on a permanent basis. Britney also requested that a "qualified corporate fiduciary" oversaw her financial affairs instead of her father. Furthermore, it is understood that lawyer Wallet is open to resuming his role as co-conservator, but all these developments and changes will only be sanctioned once the court hearing resumes in February 2021. Till then, it's safe to assume that Britney's future is in good hands.