Britney Spears’ younger sister Jamie Lynn Spears has been named as a trustee to protect the singer’s fortune.
Court documents obtained by The Blast reveal 29-year-old actress Jamie Lynn was first named as an executor on Britney’s SJB Revocable Trust in 2018.
While the 38-year-old singer is alive she is the “sole beneficiary” of the trust, but new legal papers reveal steps taken by Britney to protect her finances in the event of her death.
The move comes as it emerged Britney’s father, Jamie Spears, has asked the court to approve Fidelity Financial Management as an adviser to her investments, with the power to set up “blocked accounts” to hold the singer's assets.
Read more: Britney Spears asks court to end father's control over her life for good
The new documents state: “Upon the settler's death, the entire principal of the Trust, including all accused and undistributed and unrealised income, together with any insurance on the settler's life or other assets payable to the Trust as a result of settler's death, shall be promptly distributed by the Trustee to the trustee or co-trustee of the to be held, administered and distributed in accordance with its terms.”
The BJS Kids & Family Trust was set up by Britney in 2004 to protect her fortune and provide for her children's financial future.
The Toxic singer is mother to Sean Preston, 14, and Jayden James, 13.
Jamie Lynn was also a child star, appearing in Nickelodeon series Zoey 101. She has two daughters, 12-year-old Maddie and two-year-old Ivey. She is believed to be close to Britney and recently spoke out to defend her sister about comments from her mental health.
Britney was put into her father’s care in 2008 with him presiding over her conservatorship which controls her care and finances.
Jamie Spears stepped down as her conservator last year and the I’m A Slave 4 U singer’s conservatorship is now in the hands of her long-term “care manager” Jodi Montgomery.
Britney recently appealed to a court not to allow her father to regain control of her life, as her conservatorship was extended until 2021.
Britney – who entered the spotlight at the age of 11 on Disney’s The Mickey Mouse Club – suffered from the pressures of fame and work and had a very public breakdown in 2007.
Read more: What is the Free Britney movement?
After being put into her father’s care in 2008 she went on to revive her career, appearing as a judge on the American version of The X Factor, performing several hit world tours and starring in a successful Las Vegas residency.
However, she pulled out of a second Las Vegas run due to stress and has not performed since October 2018.
There has been an ongoing campaign by some fans to “Free Britney” from her conservatorship, with celebrities including Paris Hilton and Miley Cyrus joining in the calls.
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August 26, 2020 at 02:05PM
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Britney Spears' younger sister Jamie Lynn appointed trustee to her fortune - Yahoo News
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