Jamie Lynn Spears will hold power on everything that Britney Spears has in case something happens to the singer. It was revealed in court documents that the Zoey 101 actress has been named as the trustee of her sister's fortune.
This is the first time that Jamie Lynn's name has been mentioned in Britney's conservatorship. In the past, it was only their father, Jamie Spears, who was involved in it.
The Blast was able to obtain the legal documents from the recent court proceeding of Britney's conservatorship. It stated there that Jamie Lynn was named trustee of her sister's SJB Revocable Trust. The trust was set up by the "Toxic" singer in 2004 to protect her fortune and provide for her children's future.
According to the document, Jamie Lynn was named as trustee when it was amended in 2018. At the moment, Britney is the sole beneficiary of the SJB Trust. It, however, stated the steps to be taken if she passes away and that is where Jamie Lynn will exercise her role as trustee.
When Britney Spears passes away, Jamie Lynn will ensure that all of her assets and cash will be transferred to the trust set up to take care of her children. The "Stronger" singer has two kids from her previous marriage to Kevin Federline. Both are, now, in Federline's custody.
Meanwhile, reports have that, in the new court filing, Jamie Spears also asked the court to approve the appointment of Fidelity Financial Management to create "blocked accounts" that will hold all his daughter's assets. It will also purportedly serve as advisors to Britney's investments.
Britney's dad relinquished his role as sole conservator of his daughter's estate last year, citing personal health reasons. In his new filing, however, he requested to be part of it again. The court set a hearing for this motion on September 16, 2020.
The Grammy winner earlier filed in court, through her lawyer, a document stating that she no longer wants her father to be part of her conservatorship. The Crossroads actress, also, requested to have a financial advising company to be in charge of her finances.
The revelation about Jamie Lynn's involvement in her sister's trust, and their father's intention to be involved in Britney's guardianship again are the latest development in the singer's conservatorship issue. It still unclear how these affect the #FreeBritney movement.
The campaign was revived ahead of the pop superstar's conservatorship hearing this month. It calls for Britney Spears' conservatorship to end. Jamie Spears, earlier, slammed the #FreeBritney movement and he called it "a joke."
