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One of the most shocking revelations to come out of today's hearing is that when Jamie's temporary conservatorship expires on July 31st, the court will hear arguments that same day regarding a permanent conservatorship.

A 730 psychological evaluation is being presented today -- Britney's medical/psychological evaluation that was ordered by the court. This may be the reason the permanent conservatorship is being discussed today. In other words -- Britney's psychological condition is NOT temporary.

But the "permanent" designation might sound a bit more significant than it could be. Jamie Spears, along with his attorney, was named the temporary conservator for Britney because they went to the court in an emergency situation to ask for control over Brit's affairs. It is normal court procedure that if the condition that made the conservatorship necessary is not resolved by the end of the temporary conservatorship, that a permanent conservator must be named. This position would be dissolved should Britney become healthy again to the point of court-appointed psychologists labeling her as no longer a danger to herself or others.

That said, a temporary conservator can't make any long-term decisions that may conflict with a permanent conservator's potential plans. For example, Jamie couldn't have made real estate transactions in Britney's name but he would be able to as a permanent conservator.

Click through for info on Britney's audit of her accounts with Jive Records ...