Britney Spears' younger sister, Jamie Lynn Spears, has been put in charge of managing the pop star's fortune. According to new court documents obtained by The Blast, in 2018 the 29-year-old actress was named trustee of Britney's SJB Revocable Trust, which was set up in 2004 to protect her wealth and see to her children's financial future.
Britney is the "sole beneficiary" of the trust, but in the event of her death, Jamie Lynn will be in charge of ensuring the funds are transferred to the trust.
According to the legal documents, "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."
Jamie Lynn is seeking that Fidelity Financial Management serve as adviser to her sister's investment and have the power to create "blocked accounts" to hold Britney's investments.
Britney has been locked in a legal battle with her father, Jamie Spears, who is calling on the court to allow for himself and attorney Andrew Wallet to regain the power to oversee her personal and financial affairs. The "Toxic" singer has strongly opposed the move and requested that Jodie Montgomery, a licensed conservator, take the position.
Now the conservatorship, which has been in place since 2008, has been extended until February 2021.
A hearing is set for Oct. 14 and Britney’s lawyer, Samuel D. Ingham III, has been authorized to file a petition by Sept. 18.
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