Papers In Britney Spears’ Custody Dispute Reveal Lavish Spending

LOS ANGELES, Calif. (November 1, 2007) – New documents were released today in the Britney Spears/Kevin Federline custody battle, revealing previously undisclosed financial information about the two celebrities.

In the documents, some of which were filed on August 8 of this year and kept sealed until now are complete Income and Expense Declaration forms from Britney and K-Fed. The forms were required as K-Fed had requested $100,000 for his attorney fees.

According to the paperwork, Britney’s then lawyer, Laura Wasser was fighting hard to combat K-Fed’s request for more dough. One of the arguments Wasser made was that K-Fed has chosen the wrong career or as their filing puts it “a losing venture.”

“[Federline] should not be rewarded because he has chosen to be employed in a venture that cannot support him or assist in the support of the parties’ minor children,” Wasser’s filing read.

Though the documents released today are lengthy, it is packed with interesting information on how much the stars earn, or don’t earn, and how they spend their cash.

K-Fed currently receives $20,000 a month in spousal support from Britney and $15,000 in child support.

In his paperwork he claims he has “no cash flow other than [the] spousal support which will terminate on November 15, 2007.”

If you’re wondering if that means he’s already gone through all the money from his 2006 album, “Playing With Fire,” and his semi-hit single “Popozao,” then you’d be correct.

In one month, K-Fed’s paperwork indicates he spends $32,300. Among some of the interesting ways K-Fed spends his dough:

$750 a month goes to telephone, cell phone and e-mail$2,000 is spent on clothes$5,000 goes for entertainment gifts and vacation$2,500 is spent on childcare

As the paperwork continues, a deeper look into Federline’s financials reveals that while he made over half a million dollars in 2006, most of which came from a music company, this year, he has actually lost money.

As for Britney, she claims to bring in $719,634 a month in income. So how does she spend her cash?

An amazing $77,797 goes to medical, hospital, dental and other health insurance premiums, per month!

$150 is spent on laundry$0 is spent on education$102,000 is spent on entertainment, gifts and vacation$500 is used for charitable contributions