Yahoo Finance What happens to Britney Spears' $82 million fortune now?
Pop star Britney Spears has regained freedom over her life and finances after a Los Angeles judge ended the conservatorship that had restricted her for more than 13 years.
"Effective today, the conservatorship of the person and the estate of Britney Jean Spears is hereby terminated," Judge Brenda Penny said after a hearing.
The 39-year-old singer had begged the court to end the legal arrangement that has governed her personal life and $82 million (US$60 million) estate since 2008.
"It was a monumental day for Britney Spears," the pop star's lawyer Mathew Rosengart said outside the courthouse.
What is a conservatorship?
The conservatorship was set up and overseen by the singer's father, Jamie, after she had a public breakdown and underwent treatment for undisclosed mental health issues.
Under US law, a conservatorship is the appointment of a guardian or a protector by a judge to manage the financial affairs and daily life of another person due to old age or physical or mental limitations.
It essentially gave Spears’ dad the ability to make decisions on her behalf, including all financial decisions.
What will happen to Spears’ fortune?
Spears’ is worth an estimated $82 million, which her father was once in control of. Now, this will be a matter for Spears herself.
Rosengart told reporters that a “safety net” has been put in place to help the singer transition back to normal life, but there was no mention of whether this will include financial management help.
Additionally, Spears’ lawyer said he is pushing for her father to be investigated for financial mismanagement of his daughters money when the conservatorship was still in place.
Whether or not Spears’ wants to press forward with calls for the investigation will also now be a matter for her as she has the power to make her own decisions.
-With AAP
