{"id":6300,"date":"2025-06-06T08:56:34","date_gmt":"2025-06-06T08:56:34","guid":{"rendered":"https:\/\/usatrustedlawyers.com\/blog\/jimmy-buffett-widow-business-manager-sue-each-other-over-275m-estate\/"},"modified":"2025-06-06T08:56:34","modified_gmt":"2025-06-06T08:56:34","slug":"jimmy-buffett-widow-business-manager-sue-each-other-over-275m-estate","status":"publish","type":"post","link":"https:\/\/usatrustedlawyers.com\/blog\/jimmy-buffett-widow-business-manager-sue-each-other-over-275m-estate\/","title":{"rendered":"Jimmy Buffett Widow, Business Manager Sue Each Other Over $275M Estate"},"content":{"rendered":"\n
\n

\n\tJimmy Buffett\u2019s widow and former business manager are seeking to remove each other from administration of the late singer-songwriter\u2019s estate, launching dueling court actions that each accuse the other of hostility and mismanagement of a trust holding $275 million worth of assets.<\/p>\n

\n\tJane Buffett<\/strong>, Jimmy Buffett\u2019s wife of 46 years, became the sole beneficiary of a marital trust holding the bulk of the hitmaker\u2019s assets upon his death in September 2023 at the age of 76. Her court filing says these assets, including real estate and a 20% stake in his successful island-themed hospitality company Margaritaville, are worth roughly $275 million.<\/p>\n

\n\tJane was made a co-trustee of the marital trust alongside Rick Mozenter<\/strong>, an accountant at the business management firm Gelfand Rennert & Feldman. But that relationship has since soured, and both Jane and Mozenter are now pursuing court actions seeking to remove the other from their roles administering the estate.<\/p>\n

\n\tIn a petition filed Monday (June 2) in Florida court, Mozenter claims he was Jimmy\u2019s \u201ctrusted financial advisor\u201d for over 30 years, and that the singer purposefully limited Jane\u2019s control of the trust because of concerns about his wife\u2019s \u201cability to manage and control his assets.\u201d<\/p>\n

\n\t\u201cIt was Jimmy\u2019s clear intent that an independent trustee, in this case Rick, had the ultimate control of the trust\u2019s assets,\u201d write Mozenter\u2019s attorneys from the law firm Comiter Singer. \u201cOther than serving as a non-controlling trustee, Jane has no ability to manage the trust. This fact has made Jane very angry. As a result, Jane has repeatedly acted in a hostile manner toward Rick and has been completely uncooperative with Rick in his attempts to administer the trust.\u201d<\/p>\n

\n\tMozenter\u2019s lawyers say Jane has refused to meet with him or otherwise help him with key duties involved with managing the trust. Jane has instead interfered with his work, Mozenter claims, including by ousting Jimmy\u2019s longtime law firm and harassing the late singer\u2019s boat captain to such a degree that the trust had to pay a hefty settlement.<\/p>\n

\n\tJane tells a different story in her own court petition filed in California on Tuesday (June 3). She alleges Mozenter has been \u201copenly hostile and adversarial\u201d while blocking access to key information about her late husband\u2019s financial portfolio.<\/p>\n

\n\t\u201cMr. Mozenter has failed to perform even the most basic tasks required of him in his role as co-trustee, including providing Mrs. Buffett with information concerning trust assets and finances, which has left Mrs. Buffett in the dark with regard to the state of her own finances,\u201d write Jane\u2019s lawyers from the firm Sullivan & Cromwell. \u201cAlong the way, Mr. Mozenter has belittled, disrespected and condescended to Mrs. Buffett in response to her reasonable requests for information she undoubtedly was entitled to receive.\u201d<\/p>\n

\n\tAccording to Jane\u2019s court filing, she met with Mozenter a month after Jimmy\u2019s death in October 2023 and asked how much income she should expect to receive annually from the trust. Mozenter dragged his feet for 16 months, Jane\u2019s lawyers say, repeatedly ignoring her requests to get an answer as she tried to make plans for her future.<\/p>\n

\n\tMozenter finally provided this estimate in February 2025, and the results were \u201cshocking.\u201d Mozenter told Jane she would see less than $2 million in annual income \u2014 an amount that would not cover Jane\u2019s expenses and \u201ca remarkably poor return for a trust with an estimated $275 million in assets,\u201d Jane\u2019s petition states.<\/p>\n

\n\tJane\u2019s lawyers say this estimate was especially surprising because the trust had received more than $14 million in distributions from Margaritaville over the previous 18 months. This made Jane concerned that Mozenter was mismanaging the trust, and she requested additional financial information from him, but she alleges the accountant once again stonewalled.<\/p>\n

\n\tJane\u2019s court filing also claims Mozenter has been \u201cunprofessional and combative\u201d to Jane and that he refused her request to sell a piece of Bahamas real estate, even though the Buffett family rarely uses this property and it costs more than $300,000 a year to operate. Mozenter has billed more than $1.7 million in fees while engaging in this alleged wrongdoing, Jane\u2019s attorneys claim.<\/p>\n

\n\t\u201cFaced with what clearly has become an unsolvable rift with Mr. Mozenter, and the prospect of having to continue to unsuccessfully request that he discharge his duties, on May 30, 2025, Mrs. Buffett asked that Mr. Mozenter resign as co-trustee,\u201d says Jane\u2019s petition. \u201cMr. Mozenter refused, insisting that he remain in a position of authority over her wealth. The situation is untenable and Mrs. Buffett requests this court\u2019s assistance to resolve it.\u201d<\/p>\n

\n\tUltimately, Jane and Mozenter are both seeking to ax each other from the marital trust\u2019s administration and appoint a new co-trustee. Mozenter has also asked the court to remove Jane as the personal representative of Jimmy\u2019s estate.<\/p>\n

\n\tThis story was updated on June 4 at 6:13 p.m. ET to include details about Rick Mozenter\u2019s competing petition against Jane Buffett.<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

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