Lawyer: Britney Spears' latest conservatorship move keeps 'prison sentence'
Britney Spears is again calling on the courts to replace her father as curator of her estate - but at least one expert believes the recent filing is hardly in the pop star's long-term interests.
On Monday, Britney's newly appointed attorney Mathew Rosengart filed a motion to remove Jamie Spears from his position as sole curator of the pop star's reported $ 60 million estate.
Rosengart - a former prosecutor and prominent Hollywood attorney whose A-list clients include Ben Affleck and Steven Spielberg - recommended CPA accountant Jason Rubin as Jamie's replacement. According to Rubin's website, he has "managed complex trust portfolios that include real estate and other financial assets valued at over $ 35 million".
A hearing to discuss Jamie's dismissal, as well as Rubin's potential appointment, is scheduled for Jan.
In the new filing that Yahoo Finance received, the conservatory is described as "increasingly toxic" and says the agreement "is simply no longer tenable".
The document added that Jamie was unable to successfully manage Britney's fortunes, alleging that the Spears family struggled financially under his leadership and filed for bankruptcy in 1998.
Britney Spears once again calls on the courts to remove Jamie Spears (pictured) as the curator of her estate
The filing also revealed how much cash Jamie receives from the Conservatory, which includes a monthly allowance of $ 16,000 as well as $ 2,000 per month for office expenses. He also received 1.5% of gross receipts from the singer's Las Vegas residence, which raised $ 137.7 million. Jamie's cut alone was at least $ 2.1 million.
"This is a profit center for him," Benny Roshan, an L.A.-based attorney who chairs the Greenberg Glusker trust and probate group, told Yahoo Finance.
The attorney stated that Britney's legal team could argue that her father had a direct financial incentive to remain curators of the estate. She added that they could ask the courts to cut his monthly pay or request that he no longer receive percentages on their concert tours.
Yahoo Finance has approached Jamie Spears' legal team for comment but has not received any feedback.
"One step back"
Protesters take part in a #FreeBritney rally at the Stanley Mosk Courthouse in Los Angeles, California, on July 14, 2021.
Some Free Britney supporters asked why Rosengart had not filed a motion to end the conservatory community - and legal experts like Roshan expressed similar concerns.
"Why ask for a change of guard while maintaining the status quo of the prison sentence?" asked Roshan von Greenberg Glusker.
"That feels like taking a step back," she added.
In November last year, Britney applied for her father's removal as sole curator of the property, but to no avail. Instead, the judge named financial firm Bessemer Trust a co-restorer, but the firm officially stepped down from its role in June, according to Britney.
Rosengart is now hoping for a different outcome.
Roshan suggests the filing notes on "some skeletons in the closet," with Jamie Spears likely to appeal - which again delays the process.
However, there is another possibility that Rosengart wants to play it safe and slowly "chops off at the conservatory" until the court realizes that it is no longer necessary.
In the past few weeks, the financial firm Bessemer Trust, which had previously been selected to co-restorate the pop star's estate, along with Spears' former court-appointed attorney Sam Ingham and even their longtime manager Larry Rudolph, stepped down from their posts.
Britney received the support of her mother, Lynne Spears, in filing, who said that because of Jamie's behavior, Britney and her father's relationship had "shrunk to nothing but fear and hatred".
This includes Jamie's "total control over [Britney], his distrust of her, his compulsion, his" trading "with her about what she can and cannot do, for any reward or punishment he is willing to pay, his permanent Threats and his decision-making in all aspects of their life, "the file says.
Overall, Roshan believes the court needs to hear one more time directly from Britney. Her emotional testimony in June eventually gave her the freedom to choose her own lawyer.
“The judge has to see that Britney really wants to end these conservatories. It has to be out there and clear, ”said Roshan.
Alexandra is a production and entertainment correspondent for Yahoo Finance. Follow her on Twitter @ alliecanal8193
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