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Jamie Lynn Spears named trustee of Britney Spears' fortune

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Jamie Lynn Spears named trustee of Britney Spears' fortune
Jamie Lynn Spears has been named the trustee of her sister Britney Spears' fortune. File Photo by John Sommers II/UPI | License Photo

Aug. 26 (UPI) -- Jamie Lynn Spears has been named the trustee of Britney Spears' fortune, putting her in charge of her sister's SJB Revocable Trust.

Jamie Lynn Spears will be responsible for ensuring that Britney Spears' fortune is transferred into a trust benefitting the pop star's children in the event of her death, according to court documents obtained by Entertainment Tonight.

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Jamie Lynn Spears was made trustee in 2018. Their father, Jamie Spears and Britney Spears' former co-conservator Andrew Wallet, signed off on the appointment, Us Weekly reported.

Britney Spears, while she is living, is the sole beneficiary of the SJB Revocable Trust. The trust was set up by the singer in 2004 to protect her fortune and children's financials.

Jamie Spears is also asking the court to allow Fidelity Financial Management to create blocked accounts that will hold all of Britney Spears' assets. Jamie Lynn Spears, upon Britney Spears' death, will receive the entire trust and will ensure that the assets are used for Britney Spears' children, 14-year-old Sean Federline and 13-year-old Jayden James Federline.

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A judge recently ruled that Britney Spears' conservatorship will remain the same and was extended to Feb. 1, 2021.

A recent court filling from lawyers representing Britney Spears stated that the 38-year-old is "strongly opposed" to her father returning to his role as her sole court-appointed conservator.

The filling said that Britney Spears prefers Jodi Montgomery to remain conservator. Montgomery took over for Jamie Spears in 2019 as Jamie Spears suffered from health issues. Wallet, who served as co-conservator with Jamie Spears, resigned in March 2019.

Jamie Spears has served as his daughter's conservator for over a decade after Britney Spears went through a series of mental health struggles in 2008.

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