The financial team of Britney Spears has geared up to tidy up the disastrous condition of her humongous fortune. The team plans to combine all the multiple trusts and assets under one umbrella in order to safeguard her wellbeing.
After the termination of her long-term conservatorship, the financial team of Britney Spears has jotted down points regarding where to start tidying up the whole scenario.
His financial team which is led by John Zabel, a certified public accountant has asked the court legally to allow him to consolidate the trusts of the 39 years old diva.
According to the document submitted in the court, Britney Spears holds multiple trusts and after the dissolution of conservatorship, they might go haywire therefore, Zabel wants to combine all of them.
According to the court filing, the oldest trust dates back to 2004, which was formulated after the skyrocketing success of Britney Spears’ 2003 album “The Zone.”
Another separate trust was created in 2018 during the conservatorship with separate assets. The reason behind this trust is unknown. It is unclear but Britney Spears has a fortune of approximately $60 million worth.
Merging all the trusts and assets into one will make it easier to monitor the wealth of the starlet.
Britney Spears will be receiving interest on the funds and assets under her trusts. Combining all the trusts would mean a bigger significant amount which means a bigger number of interest can be yielded from it.
John Zabel also made a dig on the former conservator, Jamie Spears stating that this time the financial aspects of Britney Spears will be overseen by “someone with experience representing high net worth individuals,” hinting that Jamie might not be up to the task of dealing with the monetary aspects of conservatorship.
Zabel also asked the court to have Power of Attorney, allowing him to make decisions on behalf of Britney Spears in case her mental health deteriorates. He also wants to make medical decisions about the diva in case she is incapable of making a firm decision herself.
The judge hasn’t responded to the requests made by Zabel yet. But it is known that Britney Spears has already consented to these requests made by him.