Britney Spears’ Lawyer Quits, Father Is Now In Charge Of Finances

Britney Spears's father will have sole conservatorship.

Honoree Britney Spears attends the 29th Annual GLAAD Media Awards
Alberto E. Rodriguez / Getty Images

Britney Spears's father will have sole conservatorship.

Britney Spears’s lawyer Andrew Wallet is reportedly resigning as her co-conservator, leaving her father, Jamie, as sole conservator, reports Us Weekly. The Blast was the first to report the filing.

According to court documents, Wallet is leaving effective immediately.

“The conservatorship is engaged in numerous ongoing business activities requiring immediate attention and it therefore is in the best interest of the conservatee that the acceptance of Wallet’s resignation and the issuance of amended letters of conservatorship of the estate occur immediately and without delay.”

“Substantial detriment, irreparable harm and immediate danger will result to the conservatee and her estate if the relief requested herein in not granted on an ex parte basis,” the documents added.

Wallet began watching over Spears’ finances in 2008, after she made headlines for her health and unpredictable behavior. Following his departure, Spears’ father will handle all of her investments and assets independently. A source told Us that Wallet’s replacement is currently being sought.

In November 2018, Wallet filed a petition to receive a $426,000-a-year raise that was approved. In the affidavit, Wallet may have given some notion as to why.

“At the beginning of the conservatorship, the estate was nearly out of fund and cash equivalents,” Wallet said in the affidavit. “The estate and person of the conservative were in total chaos with tremendous liabilities. The problems were of epic proportions over a period of years. Extraordinary skills have been employed by all in order to achieve the results enjoyed at the present time.”

According to Breathe the Heavy, Wallet is reportedly retiring and desires that Jamie Spears deal with the business affairs as he was already handling much of it.

Spears’ father is still recuperating from a ruptured colon that landed him in a Las Vegas hospital for 28 days. He’s expected to make a full recovery. Britney has postponed her Domination residency to be by his side.

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However, a source told Us in February that she’s looking forward to performing again. Apparently, her father is doing much better. Spears had no regrets about postponing her Las Vegas residency to spend time with him during his recovery, but she is excited to get back to her career and do what she loves most.

According to the docs, Britney’s net worth right now is $56 million, with $41 million of intangible personal property, $2.27 million in tangible property, $8.35 million in real property, and $3 million in annual gross income.