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Britney Spears' father loses bid to retain some rights over $60m estate

  • Britney Spears' father loses bid to retain some rights over $60m estate
    Will Framing Britney Spears be a moment of reckoning for the celebrity media? Britney Spears' father loses bid to retain some rights over $60m estate
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The court is expected to hold additional hearings on Britney Spears' conservatorship battle on March 17 and April 27.

 

Ajudge has overruled Jamie Spears’ objections to an order establishing private wealth management firm Bessemer Trust Co. as a co-conservator of Britney Spears’ estate.

Spears’ finances and personal affairs have been controlled by a contentious legal agreement since 2008, when her father, Jamie, was appointed her conservator.

Judge Brenda Penny appointed Bessemer as co-conservator along with Jamie Spears on November 10, but also denied Spears’ request to remove her father completely from the conservatorship.

Britney Spears’ attorney, Samuel Ingham, submitted a proposed order effectuating the co-conservatorship.

Vivian Thoreen, representing Jamie, told the court her client did not want the power to delegate the estate’s investment power to a third party, only to the co-conservator. The judge denied these objections.

Addressing the court on Thursday, Ingham said the purpose of the order was to give both Jamie Spears and Bessemer “an equal division of responsibility, in the hopes that they would sit down and figure out together the best way to handle this complex estate for the benefit of my client.”

“It’s no secret that my client does not want her father as co-conservator, but we recognise that removal is a separate issue,” Ingham said.

Ingham has indicated that he may seek to revisit his request to remove Jamie Spears entirely.

Jamie participated virtually, speaking briefly to confirm his attendance at the start of proceedings. Spears’ mother, Lynne, did not appear.

Ingham said Bessemer and Jamie Spears should next arrange together to come up with a budget and an investment plan for Spears’ $60 million estate.

A small gathering of Britney's supporters stood outside the Stanley Mosk Courthouse, hosting a Zoom gathering during the hearing to discuss the case. #FreeBritney activists say the probate court has kept Spears under legal restraints against her will.

The hearing comes a week after the release of Framing Britney Spears - a New York Times documentary on Hulu and FX that scrutinises the conservatorship.