Jimmy Buffett's Widow Upset, Confused About $275M Estate Drama: He 'Never Would Have Wanted This' (Exclusive Source)

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2 days ago

A close friend of the Buffetts tells PEOPLE that Jimmy "would never have wanted Jane to be treated like this"
Jane recently filed to remove the co-trustee of Jimmy's trust, as she claims he has not done his job properly and has been "hostile"
The friend says Jimmy "trusted Jane around so many of his important decisions in his life and career"The drama over Jimmy Buffett's trust continues.
In light of his widow Jane filing suit against Richard Mozenter — an accountant she claims has failed in his role as co-trustee of Jimmy's trust and whom she is seeking to remove — a close friend of the Buffetts tells PEOPLE that Jane and her inner circle are upset and confused by the drama.
'Jimmy would never have wanted Jane to be treated like this,' the friend says. '[I] know how close Jimmy and Jane were all these years, and how Jimmy relied upon and trusted Jane around so many of his important decisions in his life and career.'
Jimmy and Jane were married for 46 years before he died of cancer in September 2023 at age 76. According to Jane's complaint, which was filed on June 3, the "Margaritaville" singer created a series of trusts over the years 'to protect his family after his death.' He and Jane share daughters Savannah, 46, and Delaney, 33, and son Cameron, who was born in 1994.
Jane's suit alleges that Mozenter — who was appointed co-trustee after Jimmy's death — has been "plainly deficient' in his role, failing to provide information as requested as well as being allegedly 'openly hostile and adversarial' toward Jane, her complaint claims. She claims that he has refused to resign despite her repeated requests.
'When you're married for over 40 years, there's a lot that couples go through, but there was always a strong bond and trust in her,' the friend says of Jane and Jimmy. 'And there's just no way that this is what he would have wanted to happen.'
The friend continues, 'These have been very reasonable demands [Jane made of Mozenter]. There was a lot of patience asking for his feedback, and to still not get anything has been very upsetting. The idea that this is how someone responds to pretty basic requests is sort of inexplicable.'
Mozenter did not immediately respond to PEOPLE's request for comment.
Jane's complaint accuses Mozenter — who, along with his firm, has been paid nearly $2 million for his services — of having 'belittled, disrespected and condescended' her in response to 'reasonable requests for information she undoubtedly was entitled to receive.'
Per the filing, Jimmy's trust was created more than 30 years ago for Jane's benefit. It was updated most recently in 2023, and all three of the couple's children have a one-third share of the remaining Federal estate tax exemption, worth about $2 million each. The trust indicates that upon Jimmy's death, the bulk of his assets would go to the marital trust, which was to be administered by Jane and an independent co-trustee.
When Jimmy died, Mozenter assumed the responsibility of managing $275 million in assets, which the singer-songwriter had amassed to fund the marital trust. According to the filing, Jane's first meeting with Mozenter, which took place one month after Jimmy's death, allegedly yielded more questions than answers when it came to what she should expect in projected income.
'Rather than help his recently widowed client understand her finances, Mr. Mozenter spent the next 16 months stonewalling and making excuses for why he could not yet provide the requested information,' the filing claims.
Read the original article on People