Jamie Lynn Spears has been named trustee of sister Britney's SJB Revocable Trust. The pop star's younger sister will be responsible for ensuring her fortune is transferred into a trust benefitting Britney's children in the event of her death, according to court documents obtained by ET on Tuesday.
The documents state that Jamie Lynn was appointed trustee of Britney's trust in 2018, with her appointment signed off by their father, Jamie, and Britney's former co-conservator Andrew Wallet. The SJB Trust was set up in 2004 to protect Britney's fortune, 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 older sister'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 docs state.
As for Britney's conservatorship, last week, a judge ruled that Britney’s conservatorship will be extended as is 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 to hand over the reins, citing ongoing health issues.