Jamie Lynn Spears has been made a trustee of sister Britney‘s SJB Revocable Trust. The pop star’s younger sister will be accountable for safeguarding her fortune is transferred into a trust serving beneficial to Britney’s children in the course of her demise, according to court documents obtained by ET on Tuesday.
The documents confirm that Jamie Lynn will act as a trustee of Britney’s trust in 2018, with her appointment signed by their father, Jamie, and Britney’s former co-conservator Andrew Wallet. The SJB Trust was in place in 2004 to protect Britney’s possessions, four years prior to her conservatorship in 2008.
Jamie Lynn has urged that the court sanction Fidelity Financial Management to act as a financial adviser and create a “blocked account” to uphold her older sister’s resources . Upon Britney’s demise, Jamie Lynn will receive “the entire principal of the Trust,” and will make certain these assets and cash will be used for raising Britney’s two children, Sean and Jayden Federline.
“The entire principal of the Trust… shall be promptly distributed by the Trustee to the trustee or co-trustees of the BJS Kids & Family Trust, to be held, administered and distributed in accordance with its terms,” the docs state.
As far as Britney’s conservatorship is concerned, last week, a judge gave the verdict that Britney’s conservatorship will be extended as it is through Feb. 1, 2021, despite her repeated requests to remove her father. Britney requested that Jodi Montgomery — her longtime care manager, continue in that role.