The split, it appears, was over something that has broken up many couples: one person wanted kids and the other did not. Spears, 31, desperately wants more kids; she already has two boys, Sean Preston and Jayden James.
However, Trawick is 41, and does not want to begin a family; this is despite the fact that he adores the two of them. Although the two argued frequently about having a family, that wasn't the only problem between the two.
Trawick, a talent agent, wanted to expand his business and sign more clients, and this didn't sit too well with Spears. It's unclear exactly why, but obviously Spears and everything she is and was involved in was a time sink.
The news capped off a week in which Spears said she was quitting "X Factor" to concentrate on her music. It was also rumored that she was looking into a Las Vegas show, something she will now be setting up sans Trawick.
In a statement, Spears said:
Jason and I have decided to call off our engagement. I'll always adore him and we will remain great friends.
Trawick, issuing his own statement, said
I love and cherish her and her boys, and we will be close forever.
As part of the split, on Friday Trawick also resigned his role as a Spears' co-conservator, with Superior Court Judge Reva Goetz approving his departure.
There are apparently no financial ties between the former couple, with the house Spears recently purchased, for $8.5 mil in Thousand Oaks, Calif., being bought solely with her money.
Trawick did not have authority over Spears' finances, which have rebounded since the year of her public meltdowns. Judge Goetz recently reviewed -- and approved -- an accounting of her funds, showing that as of the end of 2010 Spears had over $27.5 million in assets, including almost $15 million in cash.