Jamie Lynn Spears has officially been named trustee of sister pop star Britney Spears’ SJB Revocable Trust.
According to court documents obtained by ET, Jamie Lynn will be responsible for ensuring Britney’s fortune is transferred into a trust benefitting Britney’s children in the event of her death.
The documents state that Jamie Lynn was appointed trustee of Britney’s trust in 2018. The SJB Trust was set up in 2004 to protect Britney’s fortune, which was four years before her conservatorship started in 2008. While she is living, Britney remains its sole beneficiary.
Jamie Lynn has requested that the court authorize Fidelity Financial Management to serve as a financial adviser and create a “blocked account” to hold her Britney’s assets. Upon Britney’s death, Jamie Lynn will receive “the entire principal of the Trust,” and will ensure these assets and cash will be used for 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 documents state.
Last week a judge ruled that Britney’s conservatorship will be extended through Feb. 1, 2021, despite her request to remove her father. Britney requested that Jodi Montgomery, her longtime care manager, continue in that role. Montgomery was appointed to serve as Britney’s temporary conservator in September 2019 after Jamie petitioned the court.