Britney Spears is out of the psych ward and back in her Benz (above). The conservatorship is still in effect. Its purpose is to allow Britney to focus on her treatment while her dad handles her financial affairs, according to TMZ:

TMZ has learned UCLA doctors determined Britney did not pose the legal danger to herself or to others, such that they could continue to hold her against her will. As a result, she was released today and we’re told she’s already back home.