Even though it seems former actress and child star Amanda Bynes is unraveling before our eyes, experts say the now 27-year-old "retired" entertainer doesn't yet qualify for any form of parental or court-ordered conservatorship.

The star has been spotted wandering strangely around New York City, shaving half her head, tweeting obscene things about her affection for musician Drake, posting videos of herself mumbling in front of the mirror, and on Tuesday, even tweeting pics of herself in a bra.

Bynes' behavior reportedly has the children in her apartment building scared, too.

PHOTOS: More Bynes Twitpics.

And while some of her actions are reminiscent of a 2007 Britney Spears, whose very public meltdown culminated in her shaving her own head and later led to -- and still requires -- a legal conservatorship, one court expert tells us there is nothing like that in the works for Bynes.

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"There are two main standards that courts look at as far as conservatorships. The first is the person a danger to themselves  -- Spears was and demonstrated that often -- and the second is whether the person a danger to society. Britney Spears was, and to her two children as well," legal consultant and alternative sentencing expert Wendy Feldman told FOX411's Pop Tarts column. "Amanda seems to have a serious mental illness, but that does not meet the standard in court. There is no record of suicide attempts or drug overdoses, and in public, she is a loner."

According to Radar Online, Bynes -- who earned serious cash first as a Nickelodeon star and later in other films, shows and even with her own clothing line -- demanded access to her millions a few months ago. The money had been put away in investments by her parents and lawyers while she was growing up in an effort to secure her future. But now, she's apparently spending without limitation.

TheRichest.org has Amanda Bynes listed with a net worth of $8 million.

"Amanda doesn’t qualify for an involuntary, emergency commitment in New York because she’s done nothing that is likely to result in serious harm to self or others. You could say she’s acting like a typical New Yorker – making goofy videos, wearing odd hairstyles, talking to herself, staying up all night, tweeting and spending money like water. It’s a free country," said attorney Larry Bodine of Lawyers.com, adding that there is no legal action her parents can take.

And just last month, Bynes was in the headlines for being escorted from a gymnastics class in New York City after she broke down crying when he wig fell off during a cartwheel, and posting Twitter photographs of herself in everything from blonde wigs to blue lipstick.

"She has made one smart decision though," a source added. "She got off the roads in Los Angeles and moved to New York where she can take the subway and not endanger others."

Bynes is still not in clear in California, where her driving began in March last year when she was stopped by L.A. police for talking on her cell phone while driving, arrested and charged for driving under the influence after side-swiping a cop car, and was accused of hit-and-run in two separate accidents.

Bynes's parents, still based in California, could not be reached for comment.