Bryan Spears Set To Control Britney’s Multi-Million Dollar Fortune




Bryan Spears wants to know exactly what he’s gotten himself into.

Britney Spear’s 30-year-old brother and Ivan Taback, the attorney sharing cotrustee duties of Britney’s SJB account, have filed a motion seeking to confirm that her living trust also owns the majority of the 26-year-old’s various companies.

Taback helped Britney establish her trust in 2004, appointing her as the sole trustee, but in light of the pop star’s recent hospitalization and loss of control of her estimated $100 million fortune to a conservatorship, a court commissioner named the lawyer and Bryan cotrustees.

A hearing is scheduled for Apr. 17. If Los Angeles Supreme Court Commissioner Reva Goetz approves their request, the SJB trust will be the confirmed owner of, among other Brit-centric companies, Britney Brands Inc., Britney Films Ltd., Britney Online Inc., Britney Television LLC and Fairy Zone Productions. (Britney Touring Inc., however, has already been turned over to father Jamie Spears as part of his responsibilities as coconservator, duties he shares with attorney Andrew Wallet.)

The trust already holds most of her financial assets, including hefty bank and brokerage accounts, but her interest in her companies was not automatically transferred, according to court documents filed Monday.

Bryan and Taback also state that some of said companies need immediate attending to, whether because they’re conducting ongoing business, owe taxes or are parties to litigation, and ownership needs to be established.

Taback claims that he and his fellow trustee are well within their rights to petition for the transfer.

In 2004, “Britney confirmed to me her desire that all of her material financial assets, including…her right title and interest in and to all legal entities which she then owned, be transferred and vested in the trust,” the attorney stated in a declaration included with Monday’s filing.

Meanwhile, Jamie Spears’ temporary conservatorship has been extended until at least July 31. He has been granted a $2,500 weekly allowance from his daughter’s estate, plus a car allowance, while Britney gets $1,500 a week for “walking around” money, which does not have to be used for legal fees or other major bills.

Source: eonline.com

I’ll just bite my tongue on this one. Have fun defending him.

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