A legal battle is brewing over the estate of late singer Jimmy Buffett.
The Margaritaville singer’s widow Jane Buffett said in legal documents she believes the co-trustee of the estate is not being forthright about the $275 million in it.
Jane claims both the co-trustee Richard Mozenter, as well as an attorney assigned to carrying out the high-profile transaction named Jeffrey Smith, have been ‘openly hostile’ toward her, according to legal documents reviewed by People.
Lawyers for Jane told the court that she has on multiple occasions urged Mozenter to ‘act responsibly and perform his duties’ to no avail.
They added, ‘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.
‘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.’
A legal battle is brewing over the estate of late singer Jimmy Buffett. The Margaritaville singers’s widow Jane Buffett said in legal docs she believes the executor of the state is not being forthright about the $275 million in it. Pictured in LA in 2015
Jane’s legal team told the court that her late spouse initially put together the Trust in 1990 so she would have a nest egg if anything happened to him.
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Changes were made to the Trust in 2017 and 2023, according to the outlet, which noted that the pair’s three kids have shares of the remnant Federal estate tax exemption totaling about $2 million in value.
An insider told the outlet that Jane and her confidantes are upset and confused by the drama.
‘Jimmy would never have wanted Jane to be treated like this … 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,’ the source said.
Jane said that Mozenter was vague and evasive when pressed on details about the estate following the singer’s death.
‘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,’ Jane said in the filing.
Jane said that earlier this year, Mozenter put ‘shocking’ results in front of her, as ‘he showed the Marital Trust earning less than $2 million in net income, a remarkably poor return for a Trust with an estimated $275 million in assets.’
Jane said that Mozenter advised her to ‘consider adjustments’ in her budget and possibly sell off real estate, according to the court filing.
Buffett owned multiple homes, including one in Palm Beach that was bought for $4,950,000 – which was sold less than a decade later, in 2020, for $6,909,000
Jane Buffett was pictured at an event in the Hamptons in August of 2013
The filing said ‘if the Marital Trust truly earns such a low return consistent with the financials Mr. Mozenter presented, it will confirm that Mr. Mozenter is either not competent to administer the Trust or unwilling to act in Mrs. Buffett’s best interests.’
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Daily Mail has reached out to Richard Mozenter for further comment on the topic.
Over the years, the business-savvy Margaritaville singer amassed a large array of properties in upscale, high-demand locations across the U.S.
They including Beverly Hills, California; Palm Beach, Florida; and The Hamptons in New York.
Buffett purchased multiple homes in the Palm Beach, Florida area.
One in 2011 was bought for $4,950,000 – and sold less than a decade later, in 2020, for $6,909,000, according to Realtor.com.
Another of the properties is located in Beverly Hills, which Buffett paid $8,250,000 for in 2014. The singer purchased the four-bedroom, 4,300-square-foot following a renovation.
Buffett also owned property in Daytona Beach and Franklin, Tennessee through the years.
Buffett performed at the 2014 New Orleans Jazz & Heritage Festival
Buffet and his wife pictured in NYC on October 9, 2001, weeks after the September 11 attacks
The singer-songwriter, who popularized beach bum soft rock with the escapist Caribbean-flavored song Margaritaville and turned that celebration of loafing into a billion-dollar empire of restaurants, resorts and frozen concoctions died at the age of 76 on September 1, 2023.
‘Jimmy passed away peacefully on the night of September 1st surrounded by his family, friends, music and dogs,’ a statement posted to Buffett’s official website and social media pages said at the time. ‘He lived his life like a song till the very last breath and will be missed beyond measure by so many.’
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The classic song Margaritaville, released on February 14, 1977, quickly took on a life of its own, becoming a state of mind for those ‘wastin’ away,’ an excuse for a life of low-key fun and escapism for those ‘growing older, but not up.’
The song is the unhurried portrait of a loafer on his front porch, watching tourists sunbathe while a pot of shrimp is beginning to boil. The singer has a new tattoo, a likely hangover and regrets over a lost love. Somewhere, irritatingly, there is a misplaced salt shaker.
‘What seems like a simple ditty about getting blotto and mending a broken heart turns out to be a profound meditation on the often painful inertia of beach dwelling,’ Spin magazine wrote in 2021. ‘The tourists come and go, one group indistinguishable from the other.
‘Waves crest and break whether somebody is there to witness it or not. Everything that means anything has already happened and you’re not even sure when.’
The song – from the album Changes in Latitudes, Changes in Attitudes – spent 22 weeks on the Billboard Hot 100 chart and peaked at number eight.
A legal battle is brewing over the estate of late singer Jimmy Buffett. The Margaritaville singers’s widow Jane Buffett said in legal docs she believes the executor of the state is not being forthright about the $275 million in it. Pictured in NYC in July of 2001
The song was inducted into the Grammy Hall of Fame in 2016 for its cultural and historic significance, became a karaoke standard and helped brand Key West, Florida, as a distinct sound of music and a destination known the world over.
‘There was no such place as Margaritaville,’ Buffett told the Arizona Republic in 2021. ‘It was a made-up place in my mind, basically made up about my experiences in Key West and having to leave Key West and go on the road to work and then come back and spend time by the beach.’
The song soon inspired restaurants and resorts, turning Buffett’s alleged desire for the simplicity of island life into a multimillion brand. He landed at No. 18 in Forbes’ list of the Richest Celebrities of All Time with a net worth of $1 billion.
Tributes following the singer’s passing came from all walks of life, from Hollywood star Miles Teller posting photos of himself with Buffett to former U.S. Sen. Doug Jones of Alabama, who wrote on X that Buffett ‘lived life to the fullest and the world will miss him.’
Brian Wilson of the Beach Boys wrote: ‘Love and Mercy, Jimmy Buffett’ and Paul McCartney called him ‘one of the kindest and most generous people.’
Buffett’s evolving brand began in 1985 with the opening of a string of Margaritaville-themed stores and restaurants in Key West, followed in 1987 with the first Margaritaville Café nearby. Over the course of the next two decades, several more of each opened throughout Florida, New Orleans and California.