The legal situation surrounding Britney Spears has proven to be complicated over the years, and now another wrinkle as been revealed. The Los Angeles Times notes that a court filing from last week reveals that Spears’ sister, actress Jamie Lynn Spears, is the trustee of her estate, and that she’s now seeking more authority over it.
Britney established the trust — named the “SJB Revocable Trust” and described by the LA Times as a “multimillion-dollar estate” — in 2004 to make sure her children’s future would be protected in the event of her death. A 2018 amendment said that upon Britney’s death, Jamie Lynn, who signed the document in Hammond, Louisiana last week, would administer the assets to Britney’s children. In a court filing from last week, Jamie Lynn requested that the assets of the trust be transferred to one or more accounts with Fidelity Brokerage Services, with her as the custodian of the account(s). If this request is approved, Britney’s financial assets would be placed in the account(s) and removing them would require the approval of a judge.
According to The Blast, the filing notes that upon Britney’ death, Jamie Lynn will ensure the money gets to Britney’s children: “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 LA Times notes the filing doesn’t indicate what role this could have in Spears’ ongoing conservatorship situation.
