The Bessemer Trust, the wealth management firm that was set to become the co-conservator of Britney Spears’ estate alongside her father James, has requested to resign from the arrangement.
In a court document filed on Thursday (1 July), as reported by The New York Times, the firm pointed to Spears’ recent public criticisms of the conservatorship and said that it wishes to resign “due to changed circumstances”.
The firm said in the filing that it had been told that Spears’ conservatorship was voluntary and that she had consented to the company acting as co-conservator. However, during a special open court hearing on 23 June, Spears made a series of claims that she wishes to leave the conservatorship as she is unable to make major personal or financial decisions without the approval of her father.
The Bessemer Trust filing states: “As a result of the conservatee’s testimony at the June 23 hearing, however, Petitioner has become aware that the Conservatee objects to the continuance of her Conservatorship and desires to terminate the conservatorship. Petitioner has heard the Conservatee and respects her wishes.”
Bessemer’s decision to withdraw throws further uncertainty into Spears’ ongoing conservatorship. She has lived under the system for 13 years and last week called the situation “abusive” as she pleaded with the court to let her out of the arrangement without a medical evaluation.
“I want to be able to get married and have a baby,” she said. “I have an IUD inside of myself right now, so I don’t get pregnant. I wanted to take the [IUD] out so I could start trying to have another baby.”
A judge requested her latest request on Thursday.
Bessemer Trust had been approved by the court to be added as co-conservator of the Spears estate last year, but had not yet taken any action as co-conservator and had not received any of the assets of Spears’s estate, which are thought to total nearly $60 million.
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