Spears and Federline settle custody case

Kevin will receive a $5,000-per-month increase in child support

AP file

Britney Spears (pictured) and Kevin Federline have settled their custody dispute. Spears child support payments to Federline will go from $15,000 per month to $20,000.

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updated 7:05 p.m. ET July 25, 2008

LOS ANGELES - Britney Spears and Kevin Federline finalized their child-custody settlement Friday, including a $5,000-per-month increase in child support for the pop singer’s ex-husband.

An attorney for Federline delivered the terms of two separate agreements to Los Angeles Superior Court Commissioner Scott M. Gordon, who gave his approval late Friday afternoon.

The settlement ends a months-long saga between Spears and Federline over custody issues, attorneys fees and the singer’s public meltdown earlier this year. It may not, however, be the final word on the pair’s custody arrangements.

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The couple’s children are young: Sean Preston is 2 years old and Jayden James is 1. As the boys grow older, and Spears and Federline’s lives evolve, so too might their custody arrangements.

“Everyone has a right to change it at some point,” Federline’s attorney, Mark Vincent Kaplan said Friday.

For now, Spears’ payments to Federline will increase from $15,000 to $20,000 per month, retroactive to July 15. Spears will also pay Federline’s attorneys, Kaplan and James Simon, a single payment of $250,000.

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Last week, the parties said they had also come to terms on custody arrangements, granting the 26-year-old pop singer more time with her children, including additional overnight visits. The exact terms of that agreement were sealed by the court.

Spears’ father, James, currently controls his daughter’s financial and personal affairs as a court-appointed conservator. He signed off on the agreement on Spears’ behalf.

A hearing on the conservatorship is scheduled for Thursday.