Wallet asks for a raise

Source: L.A. Superior Court via RadarOnline

On October 15, 2018, Andrew Wallet requested an increase to his fees for his work as co-conservator of the estate of Britney Spears. Wallet refers to the conservatorship as a "hybrid business model" that requires more effort than a standard probate conservatorship. Wallet's request for a raise on November 20, 2013 is included for reference in this filing.

Key points:

  • Wallet repeatedly admits to acting as conservator of the person Britney Spears despite being appointed as a conservator only to the estate of Britney Spears.

  • Throughout the petition, Wallet complains that he could be making much more money doing the same type of work elsewhere and warns that anybody else hired to complete his tasks would charge much more than he does.

  • Wallet boasts of removing people from Britney's personal life that he deems "bad".

  • In the November 20, 2013 section of the filing, Wallet states that "Conservatee's business activities have greatly accelerated due to her increased well being and her capacity to be more engaged in furthering her career activities."

  • Wallet insists that his goal is for Britney to be financially secure enough "to be able to live comfortably for the rest of her life, without having to work, should she choose to do so." [As a conservatee, Britney is legally unable to make decisions about whether or not she will work as she cannot enter into legal contracts with employers.]

  • Comparing his work to that of a fiduciary running the estate of a dead celebrity, Wallet suggests that he should be paid a percentage of the income derived from the estate rather than a flat fee.

  • Wallet admits that "running a business is outside the normal scope of trust company services."

  • Britney Spears' title is listed as "Temporary Conservatee", despite having been a conservatee for over ten years as of the date of the filing.