Court documents obtained by multiple media outlets amid one famous pop singer's conservatorship battle show Britney Spears' younger sister Jamie Lynn Spears has been named trustee of the star's multi-million dollar trust. Spears reportedly established her SJB Revocable Trust in 2004 to protect her fortune and her children's financial future. According to court documents, that trust was then quietly amended in 2018 to name 29-year-old Jamie Lynn as trustee, effectively tasking her with overseeing and distributing Spears' wealth to her children, 14 year-old Sean Preston Federline and 13-year-old Jayden James Federline, in the event of the singer's death.
Documents recently obtained by Us Weekly, The Blast, and The Los Angeles Times reportedly show Jamie Lynn was approved to be the trustee of Spears' SJB Revocable Trust in 2018 by the singer's then co-conservators, Andrew Wallet and father Jamie Spears. According to Us Weekly, the papers stipulate that Spears remains the "sole beneficiary" of her trust while alive but that in the event of her death her sister will receive "the entire principal of the Trust, including all accused and undistributed and unrealized income."
Along with the principal of the trust and all income, Jamie Lynn will also receive "any insurance on the settlor's life or other assets payable to the Trust as a result of settlor's death." Those assets would then be distributed by Jamie to Spears' children.
According to Harper's Bazaar, recent court filings show Jamie Lynn has asked the court to approve moving all of the trust assets into "one or more accounts with Fidelity Brokerage Services with her as the custodian."
News that Spears' younger sister had been appointed as the trustee of her trust comes as the singer continues to oppose her father's role as her sole conservator. Spears' father has served as conservator of her conservatorship — meaning he oversees all of her financial affairs and retains control over her daily life — since it was first established in 2008. From early 2009 to March 2019, however, Jamie was joined in the role by Wallet. In September 2019, the BBC reported Jamie announced he would be temporarily withdrawing as conservator for health reasons, leading the court to appoint Spears' care manager Jodi Montgomery to the role.
In documents filed earlier this month, the Los Angeles Times reported Spears' attorney asked the court to "substantially" change her conservatorship to name Montgomery as her permanent conservator as the singer "strongly opposes" her father serving as her sole conservator. Jamie has since countered with a petition to reinstate Wallet as co-conservator, the Los Angeles Times reported.
As Spears' ongoing conservatorship battle has played out in headlines, a number of the singer's fans have alleged she is being held hostage by her conservatorship and demanded the courts end it under the #FreeBritney social media movement.