BJS Kids & Family Trust : A Research Thread

[B. Leigh]

2 hours ago, Steel Magnolia said:

Hmmm.

We still don't know why the custody arrangement was suddenly changed to 70/30.

Especially during an "ex parte" hearing...That means "without notice to the other party" or "emergency hearing."

I thought it was because Jamie shook one of the boys...

[B. Leigh]

1 hour ago, Steel Magnolia said:

They changed it in the family court first during an "ex parte" hearing...That means "without notice to the other parties" or "emergency hearing."

A year later, they formalized it in the probate court after Jamie was issued the RO for assaulting Preston.

In other words, they kept it a secret for a year and then announced it when it conveniently fit their narrative.

These ppl are so sneaky and gross...there was stuff going down behind the scenes...everyone quarantining together in 2020 must have been a house of horrors for Britney...

[Steel Magnolia]

8 minutes ago, B. Leigh said:

These ppl are so sneaky and gross...there was stuff going down behind the scenes...everyone quarantining together in 2020 must have been a house of horrors for Britney...

Yep!

Jodi became the case manager about three weeks later...Again, they kept that a secret until about a year later when the RO against Jamie was announced.

I suspect Britney was falling apart at the seams and/or raging against Jamie throughout the summer of 2018, causing him to pull back...But we don't know for sure.

"I was on tour in 2018. I was forced to: my management said if I don’t do this tour, I will have to find an attorney. My own management could sue me if I didn’t follow through with the tour. He handed me a sheet of paper as I got off the stage in Vegas and said I had to sign it. It was very threatening and scary. And with the conservatorship, I couldn’t even get my own attorney. So out of fear, I went ahead and I did the work."

Key dates:

Dec. 31, 2017 - The final show of the "Britney: Piece of Me" residency occurs at Planet Hollywood in Las Vegas, closing out a five-year run.

May 22, 2018 - Jamie Lynn Spears is accepted as sole Trustee of the SJB Revocable Trust by the probate court.

May 22, 2018 - Kevin Federline files documents with the family court asking for a forensic accounting of Britney's estate. A declaration from a forensic accountant estimates the cost to the estate will be around $100,000.

May 23, 2018 - Mark Vincent Kaplan releases a statement to the media, announcing that Kevin and Britney's father are battling over an increase to his monthly custody payments.

June 10, 2018 - For the first time since 2007, the monthly child support payments to Kevin Federline are increased from $20,000 to an unknown amount.

June 10, 2018 - Co-Conservator Andrew Wallet asks the probate court for a substantial raise. He is approved, and begins receiving $426,000 per year for his work.

July 6, 2018 - The SJB Revocable Trust undergoes its first amendment, allowing the "BJS Kids & Family Trust" to be the recipient of all of Britney's assets upon her death.

July 12, 2018 - The first show of the Piece of Me: Exclusive Limited Tour occurs at an MGM Resort in Maryland.

Aug. 3, 2018 - During an ex parte hearing in family court, Britney's private visitation deal with Kevin is modified from 50/50 to 70/30. It is not formalized by the probate court until August 28, 2019. Britney is represented in the hearing by Laura Wasser.

Aug. 21, 2018 - Jodi Montgomery is hired as a Case Manager by James P. Spears and Andrew Wallet.

Aug. 26, 2018 - Britney ejects a fan from a meet and greet at a London POM tour date after the fan lightly touches the back of her sweater.

Aug. 28, 2018 - Britney is accused of being uncommunicative and disrespectful to fans at a Paris date of the POM tour. Both James Spears and Lou Taylor are spotted in Paris.

[Onyx1Boss]

31 minutes ago, B. Leigh said:

Sorry for the stupid question but who is Parnell?

James Parnell Spears 

Using middle name to distinguish from daughter Jamie

[Sgt Spears deputy]

52 minutes ago, B. Leigh said:

Sorry for the stupid question but who is Parnell?

I think they mean her dad.Its his second name.

[Steel Magnolia]

52 minutes ago, B. Leigh said:

Sorry for the stupid question but who is Parnell?

 

20 minutes ago, Onyx1Boss said:

James Parnell Spears 

Using middle name to distinguish from daughter Jamie

Ha ha...I'm glad that question was asked.

I didn't clue in that "Parnell" meant "James Parnell Spears"...I was looking for a wealth management company. 

[Steel Magnolia]

So let me get this straight...

And I'm going to break it down into little pieces so I can wrap my pea brain around it...

So...

PART 1:

There was basically nothing in the "BJS Kids & Family Trust" because this specific trust:

a) Wouldn't be funded until Britney's death, or until the conservatorship ended.

Also...

b) By 2021, the majority of Britney's assets had been transferred from the SJB Revocable Trust over to the "estate" for Jamie to manage.

Am I getting that part right?

Edited February 2, 2022 by Steel Magnolia
Adding a detail.

[Tar_isa]

2 hours ago, Steel Magnolia said:

They changed it in the family court first during an "ex parte" hearing...That means "without notice to the other parties" or "emergency hearing."

A year later, they formalized it in the probate court after Jamie was issued the RO for assaulting Preston.

In other words, they kept it a secret for a year and then announced it when it conveniently fit their narrative.

Ahhh I get it, ok.

So in summer 2018 something happened that made Kevin change the visitation agreement and the change was approved immediately, but they decided to keep it a secret. 2 months earlier, Jamie had agreed to an increase in child support to avoid disclosing the Con's financials. 

Meanwhile, team con was changing Britney's will and setting up a new trust so that, if she died, her children couldn't access her fortune at 18 but much later, and it presumably (going by the trust's title) included her family as beneficiaries.

Suddenly a year later than the actual change in visitation, MVK decides to disclose it right when Jamie assaulted Preston. To make it look like this was the reason?  

I don't know, I am starting to think Britney started really rebelling much earlier than I previously thought.

[Steel Magnolia]

1 minute ago, Tar_isa said:

Ahhh I get it, ok.

So in summer 2018 something happened that made Kevin change the visitation agreement and the change was approved immediately, but they decided to keep it a secret. 2 months earlier, Jamie had agreed to an increase in child support to avoid disclosing the Con's financials. 

Meanwhile, team con was changing Britney's will and setting up a new trust so that, if she died, her children couldn't access her fortune at 18 but much later, and it presumably (going by the trust's title) included her family as beneficiaries.

Suddenly a year later than the actual change in visitation, MVK decides to disclose it right when Jamie assaulted Preston. To make it look like this was the reason?  

I don't know, I am starting to think Britney started really rebelling much earlier than I previously thought.

Yes.

I suspect that Britney started rebelling almost immediately after she walked off the Vegas stage.

The moment that Larry handed her the contract for the summer tour and told her she must comply or he would sue her was likely the "inciting incident."

a.k.a. "a flashpoint event"

It would have been all downhill from there.

[Steel Magnolia]

"Inciting incident"

The inciting incident of a story is the event that sets the main character or characters on the journey that will occupy them throughout the narrative. ... In moments big and small, an inciting incident changes the life of a character, and the ensuing story is the fallout from that change.

"Flashpoint event"

The flashpoint or inciting event of a story is its first turning point and has the function of bringing chaos where there was order. It is the point of no return and the trigger that gives rise to conflict and action.

[Steel Magnolia]

I can only guess why Larry would threaten to sue Britney if she didn't complete the POM summer tour.

One guess is that Team CON told her they had lost a lot of money on the Glory era.

Canning the original MM video must have cost them several million...I can just imagine how much they guilt tripped her over that.

[Steel Magnolia]

Question...

Do we know when Kevin Federline made his first move in the family court after Team CON first changed Britney's will?

If Susan Bassi is poking around these threads, it sure would be nice to have these documents suddenly pop up on Twitter. 

Key dates:

Aug. 16, 2017 - The conservators file court documents asking to change Britney's will so her sons cannot access the entire SJB Revocable Trust at the age of 18. 

Dec. 17, 2017 - Jamie Lynn Spears requests to be named sole Trustee of the SJB Revocable Trust. She is to replace Ivan Taback.

May 22, 2018 - Jamie Lynn Spears is accepted as sole Trustee of the SJB Revocable Trust by the probate court.

May 22, 2018 - Kevin Federline files documents with the family court asking for a forensic accounting of Britney's estate. A declaration from a forensic accountant estimates the cost to the estate will be around $100,000.

[RebellionSparkles]

53 minutes ago, Steel Magnolia said:

So let me get this straight...

And I'm going to break it down into little pieces so I can wrap my pea brain around it...

So...

PART 1:

There was basically nothing in the "BJS Kids & Family Trust" because this specific trust:

a) Wouldn't be funded until Britney's death,

Also...

b) By 2021, the majority of Britney's assets had been transferred from the SJB Revocable Trust over to the "estate" for Jamie to manage.

Am I getting that part right?

OMFG! thats even worse than I expected.  How is that legal? Literally Jamie is incentivized to prefer the death of Britney over the end of the conservatorship.

How did i miss this??????

This is wayyyy worse than "hybrid business model."

 

...am I missing something? is there a reason this has flown under the radar?

[Steel Magnolia]

4 minutes ago, RebellionSparkles said:

OMFG! thats even worse than I expected.  How is that legal? Literally Jamie is incentivized to prefer the death of Britney over the end of the conservatorship.

How did i miss this??????

This is wayyyy worse than "hybrid business model."

 

...am I missing something? is there a reason this has flown under the radar?

I don't know.

I want to make sure I'm understanding that basic premise properly.

...Because there's a "Part 2" to my question if we can ascertain that "Part 1" is accurate.

[Steel Magnolia]

3 hours ago, Onyx1Boss said:

It is the November 12 2021 petition for substituted judgement by Zabel.

Line 4 on page 4 mentions Parnell as controlling her assets in the event of her demise or termination of the conservatorship:

https://drive.google.com/file/d/1BJnGGQBUDUgqNTBCzuO-bQnCHYDOrZJv/view?usp=drivesdk 

This document is very helpful in understanding the basic premise of the "BJS Kids & Family Trust."

For anyone who wants to follow along with my two-part questions.

[B. Leigh]

4 hours ago, Onyx1Boss said:

Line 4 on page 4 mentions Parnell as controlling her assets in the event of her demise or termination of the conservatorship:

https://drive.google.com/file/d/1BJnGGQBUDUgqNTBCzuO-bQnCHYDOrZJv/view?usp=drivesdk 

This was why Britney's estate conservator held onto his powers longer...they needed to undo this so that Jamie wouldn't have control of her money even if the conservatorship ended...

[Steel Magnolia]

39 minutes ago, B. Leigh said:

This was why Britney's estate conservator held onto his powers longer...they needed to undo this so that Jamie wouldn't have control of her money even if the conservatorship ended...

Ooooh...

I'm going to edit my question above...Because you're right. "If the conservatorship ended" applies to right now.

Jamie and the lawyers quite literally fixed it so he'd have control of her money no matter what.

[RebellionSparkles]

19 minutes ago, Steel Magnolia said:

Ooooh...

I'm going to edit my question above...Because you're right. "If the conservatorship ended" applies to right now.

Jamie and the lawyers quite literally fixed it so he'd have control of her money no matter what.

 

59 minutes ago, B. Leigh said:

This was why Britney's estate conservator held onto his powers longer...they needed to undo this so that Jamie wouldn't have control of her money even if the conservatorship ended...

But I'm still slightly confused...if Jamie would have access to Brit's money even if the CON ended, then why was he petitioning for the CON to continue? Rosengart said that up until the point that he had asked for discovery, Team Jamie had insisted on keeping the CON in tact.

This weird Trust was enacted in 2018. Theoretically, Jamie had successfully stolen all of Brit's assets at this point, why keep the CON going?

[Steel Magnolia]

Here's the follow-up to PART 1 of my question above...

Just so I have this clear in my pea brain...

PART 2:

If there's barely anything left in the SJB Revocable Trust because the majority of the assets have been transferred over to the "estate" for Jamie to manage...

And the estate is valued very low at $56.4-million...

And if the "BJS Kids & Family Trust" isn't even funded until Britney dies or the CON ends...

And if the CON has no bond because they've lost Andrew Wallet...

And if the CON needs Stonebridge's involvement for the bond...

1) What is JL being asked to transfer into blocked accounts if the SJB is more or less empty?

2) Is there a possibility that JL was being CON'd into moving hidden assets from the "estate" into the blocked accounts? In other words, were they going to stick JL with a crime so as to keep their own hands clean?

Am I making any sense at all?

Key dates:

July 13, 2020 - Lynne Spears files a "Request for Special Notice" with the court in the matter of the SJB Revocable Trust.

Aug. 18, 2020 - An accounting report shows Britney's assets in the "estate" to be valued at nearly $56.4-million.

Aug. 19, 2020 - James Spears requests the court allow Andrew Wallet to once again become co-conservator of Britney's estate.

Aug. 21, 2020 - Jamie Lynn Spears files a Petition for Order to Deposit Trust Assets Into Blocked Account(s). Jamie Lynn includes an application to involve Stonebridge Wealth Management as an authorized agent. Lou M. Taylor has 13+ years of experience with Stonebridge.

[Steel Magnolia]

To clarify my last question...

1) Is Stonebridge's involvement purely about securing a bond?

2) Alternately, is Stonebridge's involvement about hiding money?

I can't seem to nail down what transpired.

Is it because I'm an artsy person and not a math person...Or is this still clear as mud to everyone?