Jimmy Buffett's Widow Sues in Battle Over $275 Million Estate

New York Times

2 days ago

A vicious legal battle has erupted over Jimmy Buffett's $275 million estate, with his widow and his accountant filing lawsuits this week seeking to remove each other as co-trustees of a trust containing the 'Margaritaville' singer's sprawling holdings.
The widow, Jane Buffett, is angry with the way her husband's estate has been managed since his death nearly two years ago and has filed a petition seeking to oust her co-trustee, the accountant Richard Mozenter. She complains that the marital trust set up by the singer — who built a musical empire off his laid-back, beach-bum persona and infectious, often self-deprecating country-rock and calypso-inflected songs — is producing far too little income.
Mrs. Buffett asked a judge in Los Angeles Superior Court on Tuesday to appoint an independent third party to replace Mr. Mozenter. Her petition accused Mr. Mozenter of failing to provide her with basic information about the trust's assets and finances, keeping her 'in the dark with regard to the state of her own finances.' The complaint also said that Mr. Mozenter had 'belittled, disrespected and condescended to Mrs. Buffett.'
'As a result, the majority of Mrs. Buffett's net worth is controlled by someone she does not trust, and to whom the trust for her benefit must pay enormous fees — more than $1.7 million in 2024 to him and his firm — no matter how badly he treats her,' the petition said.
Mr. Mozenter filed his own lawsuit in Palm Beach County, Fla., this week, asking the court to remove Ms. Buffett as co-trustee. His suit said that he was a 'trusted financial adviser' to Mr. Buffett for more than 30 years and that he was also the singer's business manager.
He claims that during their partnership, Mr. Buffett expressed concerns about his wife's ability to manage and control his assets after his death. 'Other than serving as a noncontrolling trustee, Jane has no ability to manage the trust,' the lawsuit said. 'This fact has made Jane very angry.'
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