Britney Spears’ little sister Jamie Lynn, 29, named trustee of singer’s fortune as conservatorship extended until 2021
BRITNEY Spears’ little sister, Jamie Lynn, has reportedly been given control the trust that holds the singer's massive multi-million dollar fortune.
The was allegedly named the trustee of the “SJB Revocable Trust” - which Britney created in 2004 to .
The trust was also set up to ensure her , as stated in documents obtained by .
According to legal docs from the most recent filing, the trust has also set up a plan for how in the case of her death.
"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 outlet claimed the papers state.
Jamie Lynn reportedly signed off to ensure will be transferred assets and cash if she were to pass.
According to the docs, Jamie Lynn was first given the title back in 2018 - when the trust was amended.
Their father, , and co-conservator Andrew Wallet, approved of the move, the website claimed.
The documents state that is the “sole beneficiary” of the SJB Trust for as long as she is alive.
It's the first time another family member besides Britney's estranged father - who she recently lost to in court - has had legal control of her fortune.
Last Wednesday, a judge at a judge ruled that the 38-year-old will of her father, , indefinitely, according to documents obtained by .
Despite filing a request earlier this week asking for her dad to be removed from the conservatorship, .
The outlet reported that the singer’s dad and mom, Lynne - as well as four attorney’s - all took part in the discussions during the hearing.
Britney as the sole guardian of her legal and financial affairs at an LA courthouse this week.
The Toxic songstress had asked a judge to make her temporary care manager Jodi Montgomery - who took over last year when her father became ill - to continue permanently as her conservator.
She , court documents filed by her attorney revealed.
The documents also stated that " to reflect her current lifestyle and her wishes" - confirming reports that the star no longer wishes to perform at this moment in time.
Why is #freebritney trending and what does the star have to say about her conservatorship?
Britney Spears' conservatorship has sparked outrage among fans, particularly since she herself has made it clear she does not want it to continue in its current form.
It was implemented in 2008 after a series of public meltdowns.
's conservatorship prevents her from controlling her life or having any access to her million-dollar fortune.
Britney's lawyer, Samuel D Ingham III has said that she is "strongly opposed" to Jamie Spears continuing to control her affairs.
Due to health issues last year - which are came after claims of a physical altercation with his grandson Sean Preston - Jamie had stepped down temporarily from his role in Britney's conservatorship.
Britney instead wants Jodi Montgomery, who is a trained conservator, to have permanent control.
Fans of Britney say the 38-year-old superstar is being manipulated and controlled under the grounds of her conservatorship.
Under the hashtag #freebritney, they're calling for the end of her conservatorship
Jamie Spears says Britney's conservatorship is and #FreeBritney movement "is a joke."
After Wednesday’s ruling, fans immediately amid the ongoing campaign supporting the star.
Hordes of attended the hearing as they held banners demanding for the singer to be "freed" from her conservatorship.
Despite not getting the results she wanted, the mom-of-two seemed undefeated as she recognized her followers' efforts in a lengthy post on Instagram.
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She wrote: "I feel like we will look back at this time in quarantine as a huge transitional stage in our lives.
“We don’t know when things will go back to normal but we are staying positive and learning so much about ourselves !!!!
"For me I want to thank all my dear ... sweet ... real fans for being so damn wonderful!!”
The Toxic hitmaker concluded: "I can feel your hearts and I know you can feel mine... thank you for your support!!!”