Sadly, Britney Spears lost her most recent conservatorship battle and remains under her awful father’s control.
In newly uncovered court papers, her father has drawn up plans for the future of her 9-figure fortune.
Us Weekly got their hands on court documents this week pertaining to Britney’s much-contested conservatorship.
According to those papers, 29-year-old Jamie Lynn Spears has been named as the trustee of Britney’s SJB Revocable Trust.
This means that, in the unthinkable event that Britney should pass away, Jamie Lynn would receive her older sister’s massive forces.
According to the documents, the trust was amended to this effect in 2018.
Jamie Lynn was, at that time, listed as "trustee" for Britney’s massive fortune.
This change was signed off on at the time by co-conservators Andrew Wallet and Jamie Spears, the father of both Britney and Jamie Lynn.
This doesn’t actually amount to anything at the moment.
The documents affirm that as long as Britney lives, she will remain the "sole beneficiary" of the SJB trust.
Britney herself set up the trust in 2004 in order to protect her children’s financial future and her own fortune.
Online estimates say that Britney, who is currently 38, has an approximate net worth of $215 million.
Meanwhile, Jamie Lynn is estimated to be worth about $6 million.
But if Britney should pass away, current documents say that Jamie Lynn will receive "the entire principal of the trust, including all accused and undistributed and unrealized income."
That income would then be coupled with "any insurance on the settlor’s life or other assets payable to the trust as a result of settlor’s death," per the documents.
The monies would then be "distrubuted by the trustee to the trustee or co-trustee of the BJS Kids & Family Trust."
We are not financial experts, but it looks like Jamie Lynn would then play the role of ensuring that her nephews, Britney’s sons, have their needs (and wants) met in an age-appropriate manner.
Jamie, Britney and Jamie Lynn’s widely reviled father, is asking the court to approve the appointment of Fidelity Financial Management to create "blocked accounts."
These accounts would contain all of Britney’s assets.
The management company would then serve as advisors with regard to Britney’s investments — if, of course, the request is granted by the court.
The documents do not actually explain when these proposed changes will take place.
It is not even clear if Jamie Spears’ proposal would go into effect before or after Britney’s passing, should such an unthinkable tragedy take place.
Obviously, the current climate is placing all paperwork regarding Britney’s limited freedoms and her finances under close scrutiny.
The #FreeBritney movement has not diminished as fans are increasingly alarmed by her conservatorship, which has dragged on for 12 long years.
Of particular concern is the degree of control that Jamie exercises over his adult daughter’s life and finances — paying himself a reported 6-figure salary as "compensation."
Jamie has been regarded with suspicion by fans for years. Now, they view him with even greater hostility — and with good reason.
Last year, Kevin Federline took out a restraining order to protect both of his sons from their maternal grandfather.
Jamie allegedly broke down a door during an altercation with Sean Preston, Britney’s eldest son, grabbing and shaking the boy — horrifying.
He is not allowed contact with the boys for three years after the incident. Given his health, fans hope that this will protect the boys for the rest of Jamie’s life.
Britney herself has asked the court to remove her father from his role as conservator.
She also quickly worked with Kevin in order to modify their custody arrangement in the aftermath of the alleged attack in order to keep her sons safe at all costs.
Though Britney lost her most recent bid for freedom in court earlier this month, there will be another hearing about details of who runs the conservatorship on September 16, 2020.
