Jamie Lynn Spears named trustee for sister Britney's finances, court documents reveal

Singer-actress Jamie Lynn Spears has been serving as the trustee of a financial trust set up for her older sister, pop star Britney Spears, since 2018, according to a recent court filing. Britney Spears, who has exhibited sporadic mental-health issues through the years, has been under a conservatorship administered by their father, James Spears, since 2008.

TheBlast.com, citing legal documents it had obtained, said that in the new filing, 29-year-old Jamie Lynn Spears requests that the court allow the firm Fidelity Financial Management to hold her sibling's SJB Revocable Trust in a blocked account. Blocked trust accounts generally are used with child actors and other minors to prevent their earnings from being squandered.

The documents say Britney Spears, 38 — who has sons Preston, 14, and Jayden, 13, with her former husband, dancer Kevin Federline — is the sole beneficiary of the Trust. Upon her death, "the entire principal of the Trust … 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."

Grammy Award winner Britney Spears earlier this month asked the court to consider removing her father from her conservatorship, said TheBlast, citing documents. James Spears, aka Jamie Spears, who is in his mid-60s, and attorney Andrew Wallet had been co-administrators until Wallet resigned last year. The judge directed Britney Spears’ lawyer to file a formal petition by Sept. 18, with a hearing set for Feb. 1, keeping the current conservatorship administration intact through then.

Neither Britney Spears nor Jamie Lynn Spears, a star of the Netflix drama series "Sweet Magnolias," has commented publicly.

Britney Spears put her Las Vegas residency "Domination" on hold in January 2019 in order to be with her family after her father had been hospitalized in critically ill condition. The pop star wrote on Instagram that April 3 that she was taking "a little 'me time.' " TMZ.com that day said Spears, who has a history of psychiatric issues, had checked herself into a mental-health facility for at least 30 days. Her manager, Larry Rudolph, said the following month that she would not return to her revue at the Park MGM hotel and casino.

"I don't want her to work again 'till she's ready, physically, mentally and passionately," Rudolph told TMZ at the time. "If that time never comes again it will never come again. I have no desire or ability to make her work again. I am only here for her when she wants to work. And, if she ever does want to work again, I'm here to tell her if it's a good idea or a bad idea."