We'll have details as they come.
Update: From TMZ:
Spears filed legal papers today in Los Angeles County Superior Court, citing "irreconcilable differences." In her petition, Spears asks for both legal and physical custody of the couple's two children, one-year old Sean Preston and two-month old Jayden James, with Federline getting reasonable visitation rights.
As for money, sources tell TMZ the couple, who married in Sept. 2004, has an iron-clad prenup. Not surprisingly, Spears is waiving her right to spousal support. She's also asking the judge to make each party pay their own attorney's fees.
Spears gives the date of separation as yesterday, the same day she flaunted her incredible revamped physique during a surprise appearance on David Letterman's show. Sources tell TMZ there was no single reason for Britney pulling the plug, rather, it was "a string of events."
UpdateUpdate: Note to Faith Hill: YOU GOT LUCKY, BITCH.