Celebrity Justice
Lawyer Says Brit Worth $40 Million

TMZ is in the courtroom where attorney Adam Streisand just asked the court commissioner to 86 Jamie Spears as conservator of Brit's estate.

Streisand said Brit's estate is worth $40 million. He also said Brit is in the middle of a $17 million IRS audit with her record label Jive Records and she has 15 different businesses.

Streisand asked that the Commissioner name Northern Trust Bank and Howard Grossman, Brit's business manager, as conservators.

Here's the rub-- the Commish wasn't convinced that Streisand, the second cousin of Babs, was properly retained by Britney. So far, no decisions have been made.

Story developing ...


Reader Comments

(Page 2 of 6) Previous 15 Comments | 1 | 2 | 3 | 4 | 5 | Most Recent | Next 15 Comments

16. Hey that Red Bull is expensive!!

Posted at 5:18PM on Feb 4th 2008 by fran

17. If Britney is a psych ward and considered mentally ill, can she make the decision to hire this new attorney - there's a legal conundrum

Posted at 5:17PM on Feb 4th 2008 by interesting

18.
Sad. Wasn't she worth $100 million in 2006?

I guess that what happens when you buy all your "friends" cars.

Posted at 5:18PM on Feb 4th 2008 by DIANE T

19. Not sure if she had poor financial management advice in the past or she refused to get it. I'm thinking the latter, in spite of what TMZ writes about Northern Trust Bank and Howard Grossman being her business manager,

But if she does indeed have an account with this group, then perhaps it might be prudent to assign them as conservator with business issues. This is a large institution that's been around for a long time.

Posted at 5:21PM on Feb 4th 2008 by ParisNauseatesMe

20. When the lawyers and Kevin get through with her...she will be broke as all of us.

Posted at 5:19PM on Feb 4th 2008 by Granny

21. She owes the hardworking, non-lipsynching taxpayers about $25K for the police escort to the hospital....

Posted at 5:20PM on Feb 4th 2008 by Soccer Mom

22. Wow, she is out of control with her spending! I think she is not crazy at all but is just so BULLHEADED she will spend herself broke so KFED cannot get anymore off of her.

Posted at 5:23PM on Feb 4th 2008 by Shalene

23. All I can say is, for as long as I been bashing her, I've had a change of heart. LOL before you post, watch Heidi Montag's video and wow, I'm now begging Britney to get better. If this is what we have to look forward to, I'd take a wacked out Britney any day.

Posted at 5:25PM on Feb 4th 2008 by Jorez

24. "Oooh Pickles" (currently poster #7), that's what I thought, too! Actually, I once read that Britney was worth $150 million! The sad part is, it was only a few months ago I read that! At this rate, she'll soon have NOTHING left. I knew she was spending a lot of money, but I also thought she was earning $700'000 a month. What the hell do you have to do to spend more than 110 million dollars in just a few months?!

Posted at 5:26PM on Feb 4th 2008 by Anonymous

25. Her tax return last year, amount she spent on charity?
$0

karma baby

Posted at 5:26PM on Feb 4th 2008 by FlBiker

26. no, the sad part is that none of us will ever be worth $150M, nor $40M, nor $20M, nor $2M!

haha! b*tch

Posted at 5:30PM on Feb 4th 2008 by Huckbilly

27. When they say her 'ESTATE' that means everythink from her bank accounts to her homes, Either hes lying, she spends lavishly on things we never see or her fortune was grosely over estimated. Im hopeing hes lying, becuase i woud not like brit to go broke as soon as she comes out thats al she needs, maybe she gave half of it to kevin to raise the kids, how else can he afford a 4,000,000 mansion in LA. or maybe shes put it into a trust fund for her kids but not told anyone, who knows but to be quoted as being worth $125m a few days ago to $40 now someone is lying. Even here in the UK it said on the news that her father has been placed in control on her £65m fortune which is $130m. But im thinkg that she never was worth the $125m quoted, its impossible to go from $125m to $40m in 72 hours unless her parents already got their hands on it. Maybe she has $90m stashed away in another account who knows. And whats an IRS Audit and does that mean she owes $17m. that leaves her with $23m then theres the court costs which kevin wont b payin.

Posted at 5:39PM on Feb 4th 2008 by me

28. $150 million were her lifelong earnings before taxes and expenses, you idiots. She has $40 million now. You don't keep all the money you make especially when you have entire families on a payroll, lawyers, waterfront California real estate and tons of cars. See MC Hammer for a reality check.

Posted at 5:47PM on Feb 4th 2008 by BFD

29. Hang on, FORTY million? That's a far cry from the estimated ONE HUNDRED million that keeps popping up in magazines like Forbes and so on. What happened to the other sixty million?

Posted at 5:46PM on Feb 4th 2008 by Exyank

30. It is STUPID to go on and on about what we think she is worth. All we know is what we read and half of it or more than half is lies!!!!!!

Posted at 5:45PM on Feb 4th 2008 by Kayla

Previous 15 Comments | 1 | 2 | 3 | 4 | 5 | Most Recent | Next 15 Comments