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Britney's estate holder is demanding $426K a year.
By Kayla Kibbe — Written on Oct 19, 2018
Who is Andrew Wallet? What happens in Vegas ... comes back to Vegas? In case you missed it, the immortal Britney Spears has just announced a new Las Vegas Residency. Following the success of her Piece of Me residency, which concluded in 2017 after 4 years and 248 performances, the pop star is set to launch the Domination series in February 2019.
However, on the heels of her big announcement, the superstar seems to have found herself embroiled in a bit of a financial scandal. Andrew Wallet, Spears' co-conservator, is allegedly demanding $426K a year for his services, according to Radar.
The attorney and co-conservator of Britney's estate argues that he "essentially saved Spears and her Trust from financial ruin," keeping the star's investments afloat while also allegedly "protect[ing] her from succumbing to drugs and other temptations during her Las Vegas residency," Radar reports.
So who is Andrew Wallet? Here's everything you need to know about the man demanding money from the reigning queen of pop.
1. He's worked for Britney for over a decade
In the affidavit filed on October 15, Wallet argues that he has played a crucial role in bringing "stability and leadership" to Spears' estate in the decade throughout which he has overseen the star's finances since the beginning of his court-appointed conservatorship in 2008.
2. He shares conservatorship with Britney's father
2007 Britney may now be a long distant remnant of early-aughts Hollywood that we can all look back on and remember fondly in meme-form, but the aftermath of that catastrophic year involved more than a shaved head and an umbrella. Spears' breakdown ultimately resulted in the 2008 appointment of two conservators, her father, Jamie Spears — who was also granted conservatorship over Spear's person — and Wallet, who shared responsibility with Britney's father of her estate.
3. This isn't the first time he's asked for more money
Back in 2008, the relatively newly-appointed conservator was already demanding more cash, with his fees reportedly costing the pop star upwards of $140K.
4. He's a Super Lawyer
According to Wallet's website, he's repeatedly been named a Super Lawyer in Trust and Estate Litigation by SoCal Super Lawyers Magazine.
5. He was once deemed unfit by Britney's "other" lawyer
Well, kind of. Back in 2008 when Britney's mental health crisis had finally reached a breaking point, she allegedly hired Adam Streisand, a second cousin to Barbara Streisand, as her lawyer. (2008 was a weird time to be alive. It was an even weirder time to be Britney Spears.) The court ultimately refused to recognize Streisand as Spears' attorney, but before he was effectively ejected from the courtroom, Spears' pseudo-lawyer reportedly "questioned the expertise of court-appointed co-conservator Andrew Wallet, claiming that he didn't have the expertise to handle the estate or the trust," according to MTV.
6. He claims Britney was nearly broke when he took over
According to Wallet's statement in the affidavit, "At the beginning of the conservatorship, the estate was nearly out of fund and cash equivalents.” Wallet also claims that since his conservatorship, Spears' estate has increased to $20 million in value.
7. The conservatorship could potentially come to an end...
It's been a long time since 2007, and Britney Spears — radiant performer, magnetic stage presence, and self-proclaimed Miss American Dream since 17 — appears to have long-since made a full recovery. However, despite the star's indisputable comeback of the decade, she has remained under the conservatorship since 2008. Its end has been rumored for years, but back in March a source told Us Weekly that Spears' father was "actively consulting with Britney’s medical team to determine if the conservatorship of Britney as the person should finally come to an end." It is unclear whether an end to the financial conservatorship would accompany Spears' return to personal autonomy, but as of right now, both Britney and her finances remain under watchful protection.
Kayla Kibbe is a writer wrapping up her final semester at Connecticut College where she is an English major with a concentration in creative writing. She covers trending celebrity and entertainment news, love and relationships, and astrology.
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