Bessemer Trust Asks to Withdraw from Managing Britney Spears' Estate

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Quote

The wealth management firm that was set to take over as the co-conservator of Britney Spears’s estate, alongside her father, has requested to resign from the arrangement, according to a document filed in court on Thursday, throwing her conservatorship into greater turmoil.

Bessemer Trust, a professional wealth management firm that manages more than $100 billion in assets, said in a court filing that it wanted to resign “due to changed circumstances,” citing Ms. Spears’s recent public criticisms of the conservatorship.

The firm said in its filing that it had been told that Ms. Spears’s conservatorship was voluntary and that she had consented to the company acting as co-conservator. But in a court hearing on June 23, Ms. Spears excoriated the conservatorship and demanded that it end.

“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,” the firm said in the court filing. “Petitioner has heard the Conservatee and respects her wishes.”

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[Main Pop Girl]

I honestly think this is a dreadful move. They're basically throwing her in the deep end without any protection and leaving her at the mercy of Jamie and Sam. This is the complete opposite of what should be happening.

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30 minutes ago, Skinny Legend said:

I honestly think this is a dreadful move. They're basically throwing her in the deep end without any protection and leaving her at the mercy of Jamie and Sam. This is the complete opposite of what should be happening.

And they want to be in court tomorrow to terminate. And, if the court says no, they're asking for July 14 to be a hearing.

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[Cypher]

I bet it's more of a company reputation type of thing. If they were to be tied to such a high profile controversy, it'll probably reflect poorly on the company's image in the long run.

[808Dream]

her psycho dad will have full control now, this is awful.

Also her Instagram page shows that something sick is going on, it's clear she doesn't even have access to that, poor Britney. 

She badly needs someone who really cares about her health, not her money. 

How can they let this happen? So awful, what a shitty family. 

[Main Pop Girl]

3 hours ago, Cypher said:

I bet it's more of a company reputation type of thing. If they were to be tied to such a high profile controversy, it'll probably reflect poorly on the company's image in the long run.

I think you're 100% right. Again, people are putting their reputation above the needs of Britney. Really sad to see given that she wanted this trust to help her from the beginning in 2008  

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10 hours ago, Cypher said:

I bet it's more of a company reputation type of thing. If they were to be tied to such a high profile controversy, it'll probably reflect poorly on the company's image in the long run.

It has nothing to do with that, though. They were more than willing to step in.
If you watch the video I posted it explains that they were never able to begin their position, because the paperwork was never filed... and it should've been filed in February 2021.
As of the filing to withdraw, they were never involved in the role of co-conservator.

Now they want out, because they've never been able to serve in their role and feel if Britney doesn't want the conservatorship then she shouldn't.
This is NOT a good thing for Britney's sake; if anything, Bessemer should enact their role, get James out of his position, and then work their way out, as well.

[Whoknowsmehere]

Britney was invited to speak in front of a Senate panel on the subject of conservatorships.  

[Cypher]

2 hours ago, Ruthless Love said:

It has nothing to do with that, though. They were more than willing to step in.
If you watch the video I posted it explains that they were never able to begin their position, because the paperwork was never filed... and it should've been filed in February 2021.
As of the filing to withdraw, they were never involved in the role of co-conservator.

Now they want out, because they've never been able to serve in their role and feel if Britney doesn't want the conservatorship then she shouldn't.
This is NOT a good thing for Britney's sake; if anything, Bessemer should enact their role, get James out of his position, and then work their way out, as well.

While I get that part, their decision to stop pursuing the case is what I was referring to.

[Main Pop Girl]

20 hours ago, Whoknowsmehere said:

Britney was invited to speak in front of a Senate panel on the subject of conservatorships.  

I hope she does! It's clear that the current conservatorship system as it is is failing many people like her. There needs to be a total overhaul of the whole process imo