Legal Battle erupts over Jimmy Buffett’s $275 Million estate

Jimmy Buffett’s $275 million estate, built off his hit songs like “Margaritaville” and the restaurant chain it inspired, is at the center of a legal battle between his widow and the trust's co-trustee.

Buffett’s widow, Jane, who had been married to the singer for 46 years before his death in 2023, has sued to remove accountant Richard Mozenter from his position as co-trustee of the estate, according to a report from People Magazine.

The filing states that Mozenter and the lawyer representing the trust, Jeffrey Smith, have been slow to provide information to Buffett’s family, and they have been “openly hostile” to Jane.

“Mr. 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,” the filing claims, per People. “Along 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.”

Buffett’s Trust was established in 1990 for Jane’s benefit, and later amended in 2017 and 2023, and includes all three of the couple’s children. It was indicated that upon his death, the bulk of his assets would go to the Martial Trust to be administered by Jane and an independent co-trustee.

The filing claims that after Buffett died, Jane’s first meeting with Mozenter left her confused about any income she would be earning, and that later, when she was shown the trust’s earnings, they were less than $2 million in net income, “a remarkably poor return for a Trust with an estimated $275 million in assets,” including his Margaritaville company.

Mozenter also allegedly told Jane the trust would not be able to cover her annual expenses and suggested she “consider adjustments” to her life or sell real estate.

A court date is set for August 14.

Buffett died in 2023 after a four-year battle with Merkel cell skin cancer.