Britney Spears brother and Ivan Taback, the attorney sharing cotrustee duties of Britneys SJB account, filed a motion on Mar.17 to confirm that the singers living trust also owns the majority of her various companies.
Washington, Mar 22 : Britney Spears' brother and Ivan Taback, the attorney sharing cotrustee duties of Britney's SJB account, filed a motion on Mar.17 to confirm that the singer's living trust also owns the majority of her various companies.
In 2004, Taback helped Britney establish her trust with her being appointed as the sole trustee, but due to the 26-year-old star's recent hospitalization and loss of control of her estimated 100 million dollars fortune to a conservatorship, a court commissioner named the lawyer and Bryan cotrustees.
If Los Angeles Supreme Court Commissioner Reva Goetz approves their request at a hearing on Apr 17, the SJB trust will be the confirmed owner of, among other Brit-centric companies, Britney Brands Inc., Britney Films Ltd., Britney Online Inc., Britney Television LLC and Fairy Zone Productions.
Most of Britney's financial assets are already under the trust, including her big bank and brokerage accounts. Still, according to court documents filed Monday, her interest in her companies was not automatically transferred.
Bryan, 30 and Taback told that some of said companies need immediate attention, be it for they're conducting ongoing business, owe taxes or are parties to litigation, and ownership needs to be established.
Taback has claimed that he and his fellow trustee do have rights to petition for the transfer.
In 2004, "Britney confirmed to me her desire that all of her material financial assets, including...her right title and interest in and to all legal entities which she then owned, be transferred and vested in the trust," E! Online quoted the attorney as stating in a declaration included with Monday's filing.
ANI