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Jamie Spears Still Conservator of All Thing$ Britney

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It's been widely, widely reported Jamie Spears is temporarily out as Britney's conservator, but we've learned that's not entirely true.

Sources with direct knowledge tell us Jamie is still ensconced as the conservator of Britney's estate, meaning he has total control over her investments, business deals, check-writing, etc, etc ... all things money.

What Jamie temporarily relinquished -- the conservatorship over Britney's "person." Yep, there are actually 2 conservatorships -- one for the estate and one for the person. The latter is taking care of Britney, making sure she gets proper medical care and on and on.

Jamie said he was relinquishing temporary control because of a medical condition. We've learned he's having ankle surgery that will bench him for 10 weeks. It's undeniable, however, that there was a big problem ... Jamie is prohibited from having any contact with Britney's kids after he allegedly put his hands on 13-year-old Sean.

The judge in the conservatorship case will get a critical report next week from a court-appointed evaluator who will determine if Jamie and the team have done a good job.

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