Pop star Britney Spears found herself in the news again last week, when the story broke that the 29-year old singer’s father will remain her conservator for the remainder of the year. Three years ago, Spears became subject to a court-ordered conservatorship and guardianship when she had several public meltdowns and was ultimately placed on an involuntary psychiatric hold. Since 2008, Spears’ father, Jamie Spears, has served as his daughter’s conservator and managed her business affairs. He is drawing a $16,000 per month salary for management of the star’s extensive finances and reportedly is seeking an amount in the hundreds of thousands of dollars for directing and managing the logistics of Britney’s new tour. As they say, it’s a good gig if you can get it.
Spears began her Femme Fatale tour in California last week, and a proposed European leg of the tour would need to be approved by the presiding judge handling the conservatorship. Sources say that neither side is eager to end the unusual relationship given the progress that Britney has made over the last three years.
Albeit an extreme situation, this goes to show that guardianships and conservatorships are not solely for minor children or elderly individuals. Planning for one’s incapcity, whether through a court-ordered guardianship or conservatorship or by completing a health care directive and power of attorney, is a critical estate planning step we should all undertake.
