The wealth management firm poised to help run Britney Spears’ estate as a co-conservator has submitted paperwork to withdraw from that agreement, according to court documents reviewed by the New York Times.
Bessemer Trust, a private firm that manages more than $140 billion in assets for thousands of families, told a judge it wants to be removed citing “changed circumstances.” The trust said it was under the impression Britney Spears’ appointment of a guardian was voluntary and that she consented to Bessemer joining as a co-conservator, said the Times.
But after Britney's emotional testimony last week describing the 13-year conservatorship as abusive, the company changed course.
“As a result of the conservatee’s testimony at the June 23 hearing,” the court document reads, “[Bessemer Trust] has become aware that [Ms. Spears] objects to the continuance of her Conservatorship and desires to terminate the conservatorship.”
Bessemer Trust said it heard Britney Spears' objections and respects her wishes.
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Attorneys for Britney Spears had asked the court to name the Bessemer Trust a co-conservator of Britney’s estate along with her father, Jamie Spears. The judge granted the request to add a co-conservator but denied the request to remove her father, citing the need for a transition period.
The firm had not taken control of any of Britney’s assets or received any payment.