Mark Vincent Kaplan said tonight that Britney Spears and Kevin Federline have reached a settlement in their custody case.

According to the agreement signed by all parties, Federline gets sole legal and physical custody of sons Sean Preston and Jayden James, and Spears will have visitation rights. Kaplan said:

"The case has been settled. The court still has to approve it."

"As of this evening there is a fully executed deal memo. All the issues that would have been addressed at trial have been settled. Can’t speak to the exact terms of the deal. Orders in place will stay in place."

"Kevin was not [out] to get custody. Kevins goal was to set up some kind of template so the mother of his children can co-parent. He said I need to have Britney to be involved in the coparenting of the kids, but I need there to be a structure."

"Nobody could have anticipated the terms of events that have occurred. This was a two-year journey that will be halted at a point that is good for these children. Custody is always modifiable. If there is a final order, it means there is nothing to try." [As in no need for a divorce trial.]

Both parties are due in court Friday morning to get the court’s stamp of approval for the deal.

At the end of the month the court will determine if the conservatorship, managed by Britney’s father Jamie Spears, will end or become permanent. Speaking to that issue Kaplan said:

"While I can’t tell you the terms, the order does anticipate what happens if the conservatorship is ended. The devil is always in the details and this is a very detailed deal memo."

"Nobody can predict what the future will bring, but to the extent possible I think we have really anticipated how to proceed."

This seems like it turned out in the best interest of the children. Despite all the criticism, it turned out that K-Fed was a better dad than Britney was a mom, and that’s not saying much.

Britney Spears was released from the UCLA Medical Center psychiatric unit on Wednesday against the objection by Britney’s psychiatrist, Dr. Deborah Nadel. A "court representative" found "no just cause" to continue to hold Britney. Just cause would be if Britney posed a danger to herself, others, or property. Perhaps the court representative was born yesterday, and has never read or seen any news on Britney, or then again, maybe Chris Crocker knocked the real court rep out and let Britney go himself. The court rep needs a psych evaluation his or herself.

Britney Spears’s parents strongly objected to her discharge from the psychiatric hospital, saying they "believe her life is presently at risk."

Jamie and Lynne Spears expressed their fears in a joint statement issued Wednesday night:

As parents of an adult child in the throes of a mental health crisis, we were extremely disappointed this morning to learn that over the recommendation of her treating psychiatrist, our daughter Britney was released from the hospital that could best care for her and keep her safe.

We are deeply concerned about our daughter’s safety and vulnerability and we believe her life is presently at risk. There are conservatorship orders in place created to protect our daughter that are being blatantly disregarded.

We ask only that the court’s orders be enforced so that a tragedy may be averted.

After going home yesterday afternoon, Britney drove around a while causing all kinds of chaos on the roads. Then she kicked a bodyguard, aka Britney sitter, her parents hired out of her car, and had a paparazzi drive her to the Beverly Hills Hotel where she met Adnan Ghalib. Adnan then drove Britney over to Adam Streisand’s office. Adam is the attorney who said he was hired by Britney to legally contest her father’s legal conservator power of her, and her estate. Adnan’s employer, Finalpixx, snuck Britney and Adnan out the back of Adam’s office.

Jamie Spears, Britney’s father, is rumored to be moving in with Britney, and the bodyguard, and as well as someone else may have been hired as Britney sitters to make sure she doesn’t associate with bad people, and doesn’t hurt herself.

Later today, Streisand is believed to be planning to petition Commissioner Reva Goetz to have an evidentary hearing to prove Britney is, indeed, mentally competent to retain her own counsel. Jamie is also expected in court, where it’s thought he’ll be asking to have the conservator’s orders enforced, so that his oldest daughter can get the medical treatment she needs.

Lurking in the background is Sam Lutfi, who hired Michael Sands, the former media consultant for Kevin Federline’s lawyer, Mark Vincent Kaplan. Sands was hired to rehab Lutfi’s image.

Jamie Spears is still the co-conservator of the Britney Spears estate, as is Andrew Wallet. Jamie was unsuccessful so far in firing Britney’s attorneys from Trope, who had asked to withdraw at one time, but now are suddenly fighting to stay on the case. The Commissioner did not give the conservators the power to fire Trope and Trope, Britney’s divorce lawyers.

The Commissioner said, based on the restraining order, Sam Lutfi can have no contact whatsoever with Britney, including e-mails, phone contact, etc. The commissioner learned on Monday that Lutfi had talked to Britney over the phone despite a restraining order that is on file, but so far Lutfi has avoided being legally served, which is why he doesn’t have a warrant for his arrest for the phone call.

The Commissioner extended the conservatorship to Valentine’s Day.

The Commissioner said Adam Streisand had no legal basis for claiming he’s Britney’s new lawyer. There will be a hearing at some point to determine just how mentally competent Britney is.

Adnan Ghalib brought his own cameraman, and pink roses when he tried to pay a visit to Britney at UCLA Medical Center. Adnan was not allowed to see Britney. He’s such an opportunist.

Michael Sands, who is the man hired by Mark Vincent Kaplan, Kevin Federline’s attorney, to field media calls has been subpoenaed in the Britney Spears case.

Britney’s lawyers, Trope and Trope, drafted the subpoena. Sands’ personal lawyer, Randolph W. Wright, won’t say whether the info Sands has is protected by the attorney-client privilege.

Mark Vincent Kaplan had someone he worked with address the media. The rep said Mark felt it would be inappropriate for him to address the media today considering all that happened. The rep said he could not comment on anything. Mark was in court this morning asking for Britney Spears visitation rights to be stripped temporarily, and the odds of that happening are very good. Reporters in the background are reporting that Britney has lost custody of her two children, which should be visitation rather than custody.

Mark Vincent Kaplan, Kevin Federline’s attorney, was in court at 8:30 AM this morning to ask the Commissioner to strip Britney Spears of her visitation rights until she can get adequate help for her mental and addiction problems. Attorney Tara Scott from the law firm of Trope and Trope will represent Britney, even though the firm has asked to withdraw as counsel.

Britney is at Cedars-Sinai on a "5150 hold," which means there is evidence she’s a danger to herself, or others, such as her children. The fact that Britney is getting a psychiatric evaluation means that police are not 100% sure if her erratic behavior was due to drugs, or a mental disorder. She is getting drug tested at the hospital too. Looks like she can’t skip this drug test.

With everything that has happened there is a 99% chance that the commissioner will certainly strip Britney of her visitation rights until she gets real help.