Britney Spears' younger sister Jamie Lynn is no longer seeking to take charge of the 'Circus' singer's assets and financial affairs amid conservatorship battle.
- Nov 5, 2020
AceShowbiz - Britney Spears' sister has dropped a petition in which she requested more involvement in the pop star's finances.
According to court documents obtained by The Blast, Jamie Lynn Spears has informed the court she is withdrawing the action she initially filed in Los Angeles over the summer (20), asking lawmakers to give her permission to work with Fidelity Financial experts and create accounts that will hold all of Britney's assets.
She also requested an advisory role in all her sister's investments in the event of Britney's death.
The documents read, "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."
Jamie Lynn had previously been named an administrator of a trust that holds the singer's fortune, as well as overseeing the SJB Revocable Trust, which was set up by Britney in 2004 to provide for her two sons' financial futures.
It is not yet clear why Jamie Lynn opted not to pursue her latest petition.
Britney Spears has been fighting to end her father's role as her conservator for months. The conservatorship was put in place in 2008 after her much-publicised breakdown. As fans accused Britney's family of robbing the singer of her freedom and urged them to free the star from the conservatorship, Jamie Lynn and her brother Bryan defended themselves.
