Britney Spears is Drafting a New Will to Protect Her Kids

Britney Spears is going back to the drawing board and redrafting her will ... all for the benefit of her 2 boys.

Britney's longtime conservators have filed legal docs asking for permission to change her will, which was drafted before she gave birth to Sean, now 11, and Jayden, now 10.

We've learned the current will simply provides ... when Britney dies her kids inherit her entire estate. Problem is ... they would get her entire fortune -- estimated at hundreds of millions of dollars -- when they turn 18. It's not wise to open the vault all at once to 18-year-olds.

Our sources say the new estate plan creates a trust for the kids, who will inherit her entire estate. But they will not have access to the entire fortune until they turn 35. The trust gives them limited access at 18, more access to the money at 25, but they won't get it all until they're eligible to run for President.

The trust also slashes the amount of inheritance tax the estate will have to pay.

The judge has to approve the change, but there shouldn't be any problem.