Changes to Britney's Living Trust

Source: L.A. Superior Court

On March 17, 2008, Bryan Spears & Ivan Taback filed a petition confirming the parties to The SJB Revocable Trust. Britney Spears established the revocable living trust in 2004 with herself as sole Trustee. Her brother, Bryan Spears, and attorney Ivan Taback were designated as co-trustees to manage the trust should Britney be unable to do so herself, obviating any need to appoint a guardian or conservator to manage the estate. The petition includes the initial SJB Revocable Trust paperwork for reference.

As detailed in the petition, on February 14, 2008, the Court determined that Britney had ceased to act as Trustee of the Trust, and therefore appointed Bryan Spears & Ivan Taback Temporary Successor Co-Trustees.

On March 10, 2008, Bryan Spears & Ivan Taback transferred Britney Touring, Inc. to Andrew Wallet & Jamie Spears, as Britney's co-conservators. The four men "determined jointly that it would be in the best interests of the Trust, the Conservatorship Estate, and Britney, for the Co-Conservators of the Estate to own and control Britney Touring, Inc." Spears & Taback insisted that this transfer was so urgent that they needed to skip the thirty days' prior notice of the hearing, to which the co-conservators and court-appointed attorney agreed. They've all got bills to pay, business to attend to, on-going litigation, and taxes to file.

Live performances are known as a top revenue source for musicians, as evidenced by the estimated $131,800,000 brought in by Britney's 2009 Circus tour.

According to the conservatorship accounting for 2008, a total of $3,895,000 was transferred from SJB Revocable Trust to the conservatorship accounts between February and June.

Thanks to MeanerThree

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