The firm that shares the legal guardianship of Britney Spears resigns to handle the singer's affairs

By Doha Madani

 and Diana Dasrath - NBC News

The firm that shares the legal guardianship of Britney Spears filed a petition on Thursday to waive that right, following the explosive testimony of the pop star last week in which it called her legal situation "abusive."

Bessemer Trust filed documents in Los Angeles Superior Court requesting to be removed from her position as co-tutor with the singer's father, James Spears.

In its decision to withdraw from the settlement, the

financial institution cited Britney Spears' desire to end the guardianship

during her testimony on June 23.

In the petition, Bessemer stated that he had accepted the guardianship, because he considered that both parties had agreed to it voluntarily.

Singer Britney Spears and her father, Jamie Spears, in a combination of photos.

But now Bessemer is aware that

Britney Spears "opposes the continuation of her guardianship and wishes to terminate it ... and the company respects her wishes,"

the document reads.

It is estimated that the net worth of 'the princess of pop' amounts to 60 million dollars.

The company's petition comes the day after a court rejected a petition filed several months ago for James Spears to be removed from his role as guardian of his daughter's estate.

In 2019, he was named the executor of his daughter's fortune, after co-tutor Andrew Wallet resigned.

Britney Spears' attorney, Samuel D. Ingham III, filed a petition in 2020 to have James Spears removed as guardian, saying his client was afraid of his father and preferred to have a professional handle his case.

He also claimed that

the singer refuses to perform on stage while her father is in charge of her estate

.

#FreeBritney: social networks are filled with messages of support for singer Britney Spears

June 24, 202101: 34

Los Angeles County Superior Court Judge Brenda Penny appointed Bessemer Trust as James Spears 'co-guardian and Jodi Montgomery as Britney Spears' personal guardian or legal guardian.

In rare public testimony last week, Britney Spears called her guardianship "abusive" and asked the judge to release her from her legal status without further medical evaluation.

But the 39-year-old singer did not file a formal petition in court that day.

'The pop princess' alleged that she has undergone numerous psychiatric evaluations and medical treatments and has been traumatized by her father.

Britney Spears told court that

she had not spoken publicly before because she felt that no one would believe her.

Singer Britney Spears in a file picture at the MTV Music Awards in August 2016.REUTERS

"I haven't been back to court in a long time because I don't feel like I'm being listened to in any way," said Britney Spears at her last hearing, who has been under guardianship since 2008.

She also assured that her father had to approve of everything that happened to her and that he loved the idea "100%" of having control over her.

She alleged that her former therapist had abused her power, that her

managers

had forced her to act relentlessly for years, and that her father forced her into a rehab clinic that cost $ 60,000 a month.

[Jamie Lynn Spears says she is proud of Britney after her statements against her father]

Britney Spears also revealed in court that she had wanted to get married and have another child, but that

her guardians would not allow her intrauterine contraceptive device to be removed

.

Her father has vehemently denied the allegations, claiming that he only has his daughter's best interests in mind.

Britney Spears' father will continue to manage the singer's fortune

July 1, 202100: 29

James Spears said he was “concerned about the management and care of his daughter.” He added that Montgomery was the only person responsible for overseeing decisions related to the singer's personal life and medical treatment.

In addition,

he asked the court to investigate the complaints his daughter raised

during the hearing in which she demanded the end of her legal guardianship.

Lauriann Wright, an attorney representing Montgomery, said in a statement that her client "has been a tireless advocate for Britney and her well-being," adding that if Spears wishes to bring any matter to court, Montgomery "always is and always has been willing to do it ”.