Britney Spears‘ lawyer is calling out members of the pop star’s conservatorship team.
“After denying for months that any structural change to this conservatorship was necessary, an hour before the last hearing James [Jamie] suddenly reversed direction and conceded that a co-conservator of the estate is needed after all. However, rather than work collaboratively with Britney
Britney‘s lawyer also challenged Jamie‘s choice for reinstating co-conservator Andrew Wallet, who voluntarily left his role in 2019.
“In fact, Mr. Wallet‘s sudden departure after 11 years was ‘voluntary’ only in the sense that he wasn’t removed. Rather, it was negotiated by court-appointed counsel for Britney and supported by consideration to Mr. Wallet in the form of a $100,000.00 ‘golden parachute,’” the filing goes on to read.
The co-conservator was paid $426,000 a year for his services according to the paperwork, and “any individual co-conservator to this case, much less Mr. Wallet represents a very poor value that Britney cannot afford,” her lawyer argues, considering that she is not performing nor desires to at this time.
They also pointed out that Jamie “modified” the amount business manager Lou Taylor‘s company was paid by the conservatorship.
“In considering the economic impact of Mr. Wallet‘s return on Britney‘s estate, it should be noted that on December 20, 21 2019, after Mr. Wallet had departed, James modified the compensation of TRI STAR SPORTS AND ENTERTAINMENT GROUP, the business manager, to provide for a minimum annual fee of $500,000.00,” the filing claims.
“This amount represents more than DOUBLE the amount that Tri-Star was previously receiving.”
Her father’s position is that Britney‘s decision not to perform will require him to undertake drastic changes to her “budget.”
“Apparently this frugality does not extend to the fees James pays from the conservatorship to the financial professionals with whom he surrounds himself,” the filing states.
Britney would like the court to appoint an investment bank as the conservator of her estate according to the filing, and claims she has little or no connection to her father’s choice.
“Apart from the fact that Mr. Wallet has been extremely expensive in the past, based on what occurred over the 11 years he served as her co-conservator there is no reason to believe that Mr. Wallet will be able to work with Britney to explain and implement any difficult budgetary choices that must be made.”
The judge will ultimately make the final decision regarding these requests.
Britney‘s conservatorship was first placed in 2008 with her father, Jamie Spears, being named the permanent conservator. After Jamie stepped down due to health reasons last year, Jodi Montgomery was named temporary conservator. Since 2008, the courts have continued to rule that she’s not capable of making decisions about her finances and health care.