Bessemer Trust, a professional wealth management company that was set to take over as co-custodian of Britney Spears’ estate and work with her father, has asked to resign from the arrangement, according to a document court filed Thursday, July 1 which was quoted by the New York Times.
The company, which manages more than $ 100 billion in assets, said it was requesting its withdrawal “due to changed circumstances.” In the file, the firm said it was told the singer’s guardianship was voluntary and with her consent, but in its dazzling 24-minute statement against guardianship in court last week, made it clear that ‘ she opposed it, or at least her father, Jamie Spears continuing as her curator. She has said on several occasions that she wants him removed from his position as curator; her most recent request, prior to last week’s statement, was denied by Judge Brenda Penny on Wednesday.
“Following the testimony of the Conservative at the hearing on June 23, however, the petitioner learned that the Conservative is opposed to maintaining her guardianship and wishes to end the guardianship. The petitioner has heard from the conservative and respects her wishes, ”says the court file, according to the Times. Bessemer Trust was court-approved to be added as a co-custodian of the Spears estate last fall, but had taken no action or payment as a co-custodian and received none of the assets from his estate of nearly $ 60 million.
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Wednesday, Variety reported that Spears’ father’s lawyer has filed documents on his behalf, pointing the finger at Montgomery, the father’s point of view being that he loves his daughter, is very worried and has done nothing wrong.
Last week, Spears gave her 24-minute testimony, marking the first time she has publicly addressed the court in her 13 years of guardianship. Speaking to the judge, Spears said her father enjoys being in control of her life and said she believes her Conservatives, including her father, should be in jail and that she wants to sue her family.
Spears’ case has garnered huge global attention, with increasing pressure to support the pop star and remove her father from tutelage.
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Wednesday’s court record indicates that the court found Spears to be “substantially incapable of managing its financial resources or resisting fraud or undue influence.”
Spears’ father has been her co-curator since 2008, when the singer suffered a very public crisis. He became the sole curator in 2019 following the resignation of co-curator lawyer Andrew Wallet. In September 2019, he temporarily relinquished his powers and Jodi Montgomery became his personal curator, meaning she is responsible for Spears’ medical and personal well-being. Spears’ father remains the sole custodian of his estate, handling all of his finances – while earning a large sum of his multi-million dollar annual income, as Spears has continued to record music and perform regularly in his residence in Las Vegas, under his restrictive tutelage.
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