"Britney, to this day, does not have the capacity to sign documents and make decisions for herself," Andrew Wallet said

Britney Spears' father Jamie is no longer calling for a return of his daughter's co-conservator — and now the one-time guardian is speaking out.

On Friday, Jamie's counsel withdrew his August petition to reappoint attorney Andrew Wallet as co-conservator of Britney's estate, according to documents obtained by PEOPLE. The petition was originally filed on Aug. 19.

In court filings submitted last month, Britney, 38, made clear that she was opposed to Wallet's return, calling him "uniquely unsuitable" for the position. Britney's attorney Samuel D. Ingham III also filed documents saying the singer wants a "voluntary" conservatorship in which she can "exercise her right to nominate a conservator of the estate." The star suggested wealth management and investment advisory firm, Bessemer Trust Company of California, N.A., to be her conservator and has previously said in court documents that she is "strongly opposed" to having her father, 68, return as sole conservator.

Wallet, who was named permanent co-conservator of her estate alongside Jamie in 2008, relinquished his powers as a co-conservator in March 2019.

U.S. - Britney Spears at Palms Home Poker Host Launch in Las Vegas
Britney Spears and father Jamie
| Credit: Chris Farina/Corbis/Getty

"It is not in Britney's best interests to be outside the conservatorship but there's a lot of politics involved," he told Daily Mail. "Britney, to this day, does not have the capacity to sign documents and make decisions for herself."

"Protecting her assets is very important and for that, the conservatorship has to stay in place because she is susceptible to undue influences," he continued.

Britney Spears
Britney Spears
| Credit: Jordan Strauss/Invision/AP/Shutterstock

The pop star's army of fans is currently campaigning to have her released from her conservatorship, adding more fuel to the already fiery situation.

"This movement on social media has definitely complicated matters," he said. "There are people lurking in the shadows pushing an agenda. I can't say who, but it is hurting Britney, she's the only one who gets hurt by all this."

102.7 KIIS FM's Jingle Ball - Show
Britney Spears
| Credit: LOS ANGELES, CA - DECEMBER 02: Singer Britney Spears performs onstage during 102.7 KIIS FM's Jingle Ball 2016 presented by Capital One at Staples Center on December 2, 2016 in Los Angeles, California. (Photo by Kevin Winter/Getty Images for iHeartMedia)

Though Wallet is no longer being considered as co-conservator of Britney's estate, he agrees that the conservatorship is necessary for her wellbeing.

"Britney is in a conservatorship for good reason but a lot of the Free Britney people have no experience with the law," he said. "The most important question is whether the conservatorship is in her best interests. That's what you always have to ask yourself and I absolutely still believe that the conservatorship is in her best interests."

"The conservatorship isn't in place to make her do things she doesn't want to do," Wallet said. "It's in place to protect her."

It's possible that Britney will be in her conservatorship for the rest of her life, according to the attorney.

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A representative for Jamie did not immediately respond to PEOPLE's request for comment.

A hearing for Britney's voluntary conservatorship request is scheduled for Nov. 10.