Why Britney Spears Asked Sister Jamie Lynn to Serve as Trustee of Her Fortune

Jamie Lynn Spears has withdrawn her petition to serve as trustee of big sister Britney Spears' estate, after a Los Angeles, Calif. judge extended the conservatorship until Feb. 2021.

UPDATE: Jamie Lynn Spears has withdrawn her petition to become a trustee of Britney Spears' estate, according to court documents obtained by E! News. 

While it's not yet known why the pop star's little sister no longer wants the responsibility, during a recent appearance on Good Morning America Jamie Lynn offered rare insight into Britney's wellbeing. 

"I think that she's doing just like the rest of us," she said on Oct. 30. "She's trying to make the best and stay positive during a very challenging time and challenging year, and I think that that's kind of the theme of everyone right now."

Get more details on Jamie Lynn's involvement in Britney's ongoing legal issues below. 

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Britney Spears has asked little sister Jamie Lynn Spears to step into the role of trustee for her multi-million dollar estate.

According to court documents obtained by The Los Angeles Times and The Blast, Jamie Lynn submitted a court filing last week, which states she's now the trustee of the pop star's estate, and requested the "assets of the SJB Revocable Trust be moved into one or more accounts with Fidelity Brokerage Services with her as the custodian." 

The L.A. Times reports that Jamie Lynn's request is pending approval from a judge. Once approval is granted, Jamie Lynn would be made responsible for dispensing her sister's wealth to her sons at the time of her death.

The newspaper adds that Jamie Lynn's filing doesn't appear to be directly related to Britney's ongoing conservatorship case. 

Meanwhile, a source close to the "Toxic" singer tells E! News, "Britney trusts Jamie Lynn and knows that she is extremely responsible and reliable. It makes sense that she would be the trustee."

"Jamie Lynn is very loyal and protective of Britney. There's no doubt she always has Britney's best interest at heart. They are best friends and Britney's closest confidant," the insider continues. "She is the perfect person to make financial decisions should anything happen to Britney."

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Regarding Britney's conservatorship, a judge temporarily extended it until Feb. 2021. 

The court's decision comes after Britney's attorney, Samuel Ingham, filed court documents expressing her desire to have Jodi Montgomery continue in the role as conservator in a permanent capacity. Jodi is a licensed professional who's been temporarily serving as the singer's conservator since Jamie stepped down in 2019 for "personal health reasons." 

Additionally, the court documents obtained by E! News revealed that "Britney is strongly opposed" to having her father, Jamie Spears, appointed to the role.

As for the conservator of Britney's estate, the documents stated the pop star "strongly prefers to have a qualified corporate fiduciary appointed to serve in this role." 

Andrew Wallet previously served as co-conservator of her person and estate until his resignation in March 2019, citing potential "substantial detriment, irreparable harm and immediate danger."

However, Wallet now appears to be in favor of returning to the role, as he's consented to Jamie's request that he be reappointed to the role of co-conservator, according to The L.A. Times.

To learn more about the timeline of events, click here.

(This story was originally published on Wednesday, August 26, 2020 at 2:23 p.m. PST)

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