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Britney Spears' younger sister Jamie Lynn Spears has filed to gain more control of the "Toxic" singer's assets, according to a new report.
Last week, Jamie Lynn, 29, who was revealed to be the trustee of Britney's estate since 2018, filed to request that the assets in the pop star's SJB Revocable Trust be relocated into one or more accounts with Fidelity Brokerage Service, with Jamie Lynn Spears acting as a custodian, according to court documents obtained by the Los Angeles Times.
If the request is approved, Britney's assets would be transferred into new accounts and a judge would have to approve their removal.
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The outlet reports that the trust was set up in 2004 by Britney Spears to benefit her children, Sean, 14, and Jayden, 13.
Jamie Lynn Spears (right) has reportedly filed to move some of Britney Spears' (left) assets in order to serve as custodian over a trust fund for the pop star's children. (Image Group LA/Disney Channel via Getty Images)
In 2018, an amendment stated that in the event of Britney Spear's death Jamie Lynn would administer the trust.
"Britney trusts Jamie Lynn and knows that she is extremely responsible and reliable," a source close to Britney Spears told E! News. "It makes sense that she would be the trustee."
The younger sister has been loyal and protective of Britney Spears, the source said.
"There's no doubt she always has Britney's best interest at heart," the source said. "They are best friends and Britney's closest confidant. She is the perfect person to make financial decisions should anything happen to Britney."
Representatives for Britney Spears and Jamie Lynn Spears did not immediately respond to Fox News' request for comment.
Britney Spears has operated under a conservatorship since 2008, meaning a conservator has control over her life and finances. (VALERIE MACON/AFP via Getty Images)
The filing makes no mention of how the move would play into Britney's conservatorship, which the singer recently requested not been overseen solely by her father, Jamie. The conservatorship has been extended until Feb. 2021.
The Times reports that Britney's father moved for the reappointment of attorney Andrew M. Wallet as a co-conservator and also claimed the star to be “substantially unable to manage his or her financial resources or to resist fraud or undue influence.”
Wallet, who previously served as co-conservator from 2009 until 2019 when the court allowed him to step down, consented to act as co-conservator again.
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The conservatorship has been in place since 2008 after Britney's public breakdown, giving her father control over her life and finances for the majority of the conservatorship's existence.
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