Britney Spears’ father, Jamie Spears, has renounced legal guardianship of the singer after 13 years. With this decision, the parent not only abandons the tasks of supervising the estate of Britney Spears but will also stop earning $ 16,000 per month (more than 13,400 euros).
Since in 2008 he assumed the management of the assets of almost 60 million dollars (51.1 million euros) of his daughter -the artist has 56.5 million dollars (48.1 million euros) invested in various accounts, businesses and real estate, while the rest is in cash-, according to estimates by Forbes magazine, Jaime Spears has collected at least five million dollars (4.25 million euros). This figure is the result of the salary that Britney Spears was obliged to pay her father plus the collection of part of the income from her tours.
According to the document delivered to the Los Angeles Superior Court, although “there are no real grounds to suspend or remove Mr. Spears as conservator of his estate … he does not think that a public battle against his daughter for her continued service as guardian would be the best for her. ”
In this way, Britney Spears’ father assures that he agrees to delegate that function to someone else, a process that will take place when “various pending matters are resolved in court.” This does not mean that the guardianship is completely annulled , only that your family is excluded from it.
This decision comes almost two months after Britney Spears appeared before the Los Angeles Supreme Court, in an attempt to regain her freedom. At that time, the parent refused to renounce his legal guardianship. During the process, the artist has had to pay the legal expenses of her lawyers and, in addition, those of her father.
On the brink of bankruptcy
The documents delivered by Jaime Spears’ lawyer indicate that in 2008, when the father took control of the artist’s finances, “the estate was almost without funds and cash equivalents.”
On the other hand, thanks to its management, according to the documents, the assets reached 20 million dollars between 2014 and 2018 .