Jamie Lynn Spears will reportedly now play a large role in her sister Britney Spears’ conservatorship after being named as trustee for the “Toxic” singer’s vast fortune, new court records show.
According to legal documents obtained by The Blast, Britney’s 29-year-old sister “was named trustee of the ‘SJB Revocable Trust’ which was set up by Britney in 2004 to protect her vast fortune and provide for her children’s financial future.”
This means that if Britney were to pass away, it would be up to Jamie Lynn to ensure these assets and cash would be used for pop star’s two children Jean and Jayden Federline, whom she shares with ex-husband Kevin Federline.
The document states, “Upon the settlor’s death, the entire principal of the Trust … shall be promptly distributed by the Trustee to the trustee or co-trustees of the BJS Kids & Family Trust, to be held, administered and accordance with its terms.”
It’s “unclear if Jamie is asking to move the assets to these accounts now, or in the event of Britney‘s death. But, the trust outlines exactly what should happen to her fortune in the case of her death…in other words, if she passes away, Jamie Lynn will ensure that the assets and cash be transferred to the trust set up to take care of her children.”
The “SJB Revocable Trust” was reportedly created in 2004, four years prior to when her conservatorship started in 2008, and also pertains to the pop princess’ clothes, jewellery, artwork and furniture.
Britney Spears’ conservatorship was recently extended to 2021 after the singer unsuccessfully lodged a request to have her father, Jamie Spears, step down from he role of sole conservator – a role which has seen him have control over her finances, relationships, and when she can see her two sons.
According to to the singer’s lawyer, Samuel Ingham, “Britney is strongly opposed” to having her father, James “Jamie” Spears, continue as the sole conservator of her financial affairs, a role he has held for 12 years.
“We are now at a point where the conservatorship must be changed substantially in order to reflect the major changes in her current lifestyle and her stated wishes,” Britney’s lawyer Sam Ingham wrote.
The news of Jamie Lynn’s involvement in Britney Spears’ finances comes following comments made in July by the Zoey 101 star in which she slammed a fan who questioned Britney’s mental health.
She wrote on Instagram, “You have no right to assume anything about my sister, and I have NO right to speak about HER health and personal matters. She is a strong, badass, unstoppable woman, and that’s the only thing that is OBVIOUS.”
Jamie Spears has also been vocal about his thoughts on the #FreeBritney movement, telling Page Six:
“All these conspiracy theorists don’t know anything. The world don’t have a clue. It’s up to the court of California to decide what’s best for my daughter. It’s no one else’s business.”