By Robert Frank
A court battle over the late singer Jimmy Buffett’s $275 million estate has highlighted the growing litigation over the trillions of dollars in wealth being passed down to spouses and families, experts said.
Jimmy Buffett’s widow, Jane Buffett, filed a petition last week in a Los Angeles court to remove her co-trustee, Richard Mozenter, from the marital trust created to support her after the singer’s death in 2023. Jane Buffett, who married Jimmy in 1977, alleged that Mozenter has been “openly hostile and adversarial” toward her and has refused to give her details on the trust and its financials. She alleged Mozenter is collecting “excessive fees” of $1.7 million a year and that he’s mismanaging the trust assets, projecting income of only $2 million, implying annual returns of less than 1%.
Mozenter has filed his own lawsuit in Palm Beach County, Florida, alleging that Jane has been “completely uncooperative” in his efforts to manage the trust. He said Jane has interfered in business decisions, refused to meet with Mozenter and breached her fiduciary duties by “acting in her own interest.”
The case has put a spotlight on the estate plans and business empire left by Jimmy Buffett, the singer famous for hits like “Margaritaville,” “Cheeseburger in Paradise” and other breezy, beach-vibe hits. Along with his song catalogue, Buffett left homes, cars, planes and a multimillion-dollar stake in his brand business.
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