Britney and Jamie Lynn, with Britney’s two sons – ( Radio Disney via Getty Images )
So the Britney conspiracy theorists are gonna have a field day with this information!
According to legal documents (obtained by gossip champs, Theblast.com) Jamie Lynn Spears was named trustee of the ‘SJB Revocable Trust’ which was set up by Britney in 2004 to protect her vast fortune and provide for her children’s financial future.
The new documents claim the trust was amended in 2018, naming Jamie Lynn as the ‘trustee’ and the move was signed off on by her co-conservators Andrew Wallet, and their father Jamie Spears.
According to the documents, while alive Britney Spears is the “sole beneficiary” of the SJB Trust, but it outlines what steps are to be taken if she passes away.
In the new filing, Jamie is asking the court to approve the appointment of Fidelity Financial Management to create “blocked accounts” that will hold all of Britney’s assets and serve as advisors with her investments.
It’s unclear if Jamie is asking to move the assets to these accounts now, or in the event of Britney’s death. But, the trust outlines exactly what should happen to her fortune in the case of her death.
“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.”
In other words, if she passes away, Jamie Lynn will ensure that the assets and cash be transferred to the trust set up to take care of her children.