Lessons Learned From Britney Spears’s Financial Conservatorship

Conservatorships are imposed by the Court on individuals who can no longer take care of themselves financially or health wise. They are expensive in both time and money. Court hearings are public proceedings. They are often referred to as “living probates.” The paperwork is a hassle and usually requires an attorney. Anyone including the proposed conservatee and family, and friends can object in general or can object to the proposed conservator in particular. When someone begins a conservatorship, a judge must hear evidence about the person’s mental capacity, and then appoint someone to take over, which is usually a spouse or child of the conservatee.

Individuals under a conservatorship surrender control over their financial decisions and personal lives to a court- appointed conservator. While this may be justified in cases of genuine incapacity, it often results in a loss of personal freedom and the unfortunate erosion of personal autonomy. The best way to avoid a conservatorship is to plan ahead with a trust, healthcare directive, and financial power of attorney.

The Pop Star’s recent book revealed the toll her involuntary conservatorship took on her because of her loss of personal freedom, her loss of autonomy, and her financial hardship. The “Princess of Pop’s” recent 13-year conservatorship with her father as the conservator cost her over $1,000,000, all of which could have been avoided “if” she had only planned ahead.

Plan ahead and avoid the “living probate” of Britney Spears. Call the “Trust Dr.,” W. Bailey Smith, who has created over 7,000 trusts at (949) 833 – 8891. (Watch over 30 videos at www.yourtrustdr.com) Email: BSmith@yourtrustdr.com.