Co-conservator of Britney Spears' estate requests to resign

Co-conservators of Britney Spears' estate have requested to resign from the conservatorship after hearing Britney Spears' testimony in court. Liz Day, co-creator of the "Framing Britney Spears" documentary, speaks to CNN.

Posted: Jul 2, 2021 2:00 PM
Updated: Jul 2, 2021 2:00 PM

One day after Los Angeles Superior Court Judge Brenda Penny ordered Bessemer Trust co-conservator of Britney Spears' $60 million estate, making official a November request, the wealth management firm has asked to resign.

In the court documents obtained by CNN Thursday, Bessemer Trust cited "changed circumstances" following Spears' explosive testimony at a hearing last week, during which she called the conservatorship "abusive."

"The Conservatee claimed irreparable harm to her interests in her testimony and, more specifically, the Conservatee's objection to the continuation of the voluntary Conservatorship and her desire to terminate the Conservatorship," the Bessemer Trust petition read. "Petitioner has heard the Conservatee and respects her wishes."

In Wednesday's ruling, Judge Penny also denied Spears' request to have her father, Jamie Spears removed from his current role as co-conservator of the estate, a position he's held since 2008.

Attorneys for Jamie Spears and Britney Spears respectively have not yet responded for comment.

As CNN reported Tuesday, two sources close to the singer said her attorney, Samuel D. Ingham III, is imminently planning to file a petition to terminate the nearly 13-year conservatorship.

Meanwhile, Spears' father has requested the judge to launch an investigation into his daughter's claims.

Jodi Montgomery, the temporary conservator of Spears' health and medical decisions, released a statement through her attorney in response.

"Ms. Montgomery looks forward to presenting a comprehensive Care Plan to the Court setting forth a path for termination of the conservatorship for Britney, and Ms. Montgomery looks forward to supporting Britney through that process," her statement read in part.

The next hearing in the case is scheduled for July 14.

CNN's Cheri Mossburg contributed to this report.

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