Britney Spears is ready to manage her finances again. The music icon wants to regain full control over her fortune. Last week, She was in court, revealing how much her conservatorship has taken a toll on her, emotionally and financially speaking.
“I’ve been in shock. I am traumatized. It’s been 13 years. And it’s enough. It’s been a long time since I’ve owned my money,”
said the pop singer.
In 2008, Spears was deemed unable to manage her money. Her father, Jamie Spears, was made guardian over her fortune. That left Britney Spears with a net worth of $60 million, which she couldn’t touch.
“I shouldn’t be in a conservatorship if I can work and provide money and work for myself and pay other people — it makes no sense. The laws need to change,”
said Britney to the judge.
What exactly is a conservatorship? It is a law that allows a judge to legally appoint a guardian, a conservator, over another adult’s financial affairs. The person under conservatorship is called a ‘conservatee,’ in this case, Britney Spears. However, it can only be applied to an adult due to old age or physical or mental limitations.
What happened to Britney Spears’ money?
According to Forbes, the singer paid Jamie Spears $5 million in 2008. However, in 2009, Britney sent $16,000 to her father. How much did her dad make over the last 13 years? $2.4 million.
She wasn’t ‘robbed’ just financially, but emotionally as well. Jamie set up rules, threatening her if she wouldn’t obey. The pop icon wasn’t allowed access to her credit card for years.
“How come I was always threatened by my dad and anybody that participated in this conservatorship? If I don’t do this, what they tell me to enslave me to do, they’re going to punish me,”