Jimmy Buffett’s Widow Sues Co-Trustee Over Access to $275M Estate
Jimmy Buffett and his wife of 46 years, Jane Buffett (Photo Credit: Photo Credit: Walter McBride / Contributor / Getty Images)
Jimmy Buffett Left Behind A $275 Million Fortune.
The legendary Jimmy Buffett passed away on September 1, 2023, leaving behind his beloved wife of 46 years, Jane, and their three children, Savannah (born in 1979), Delaney (born in 1992), and Cameron (born in 1994).
The family announced his passing on social media, writing, “Jimmy passed away peacefully on the night of September 1st surrounded by his family, friends, music and dogs. He lived his life like a song till the very last breath and will be missed beyond measure by so many.”
After more than 50 years in the music industry, Buffett created quite the empire thanks to his music and his Margaritaville restaurant franchises, which turned into resorts, casinos, and retirement communities. He was also part-owner of two minor league baseball teams, held the naming rights to the Miami Dolphins stadium for eight months, and had multiple beer partnerships throughout the years.
He was a true entrepreneur who made the most of everything, leaving behind a $275 million fortune when he passed away. His money was put into a trust for his wife and their children, but the family ran into problems with the co-trustee.
Jimmy’s Widow, Jane, Sues Co-Trustee Of Husband’s $275 Million Fortune
According to People, Jane Buffett has filed a lawsuit against accountant Richard Mozentar, the co-trustee of Buffett’s estate.
Jane is alleging that Mozentar 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 about the state of her own finances.”
The suit also alleges that Jeffrey Smith, the lawyer Mozentar chose to represent the trustees of the Marital Trust, and the accountant have acted “openly hostile” towards Jane.
The filing claims that Mozentar “has belittled, disrespected, and condescended to Mrs. Buffett in response to her reasonable requests for information she undoubtedly was entitled to receive.”
From Spring Break to Forever: Jimmy Buffett and Wife Jane’s Unforgettable Love Story
The late singer’s Trust was created in 1990 for Jane and amended in 2017 and 2023 to ensure his three children would receive a portion of the Federal estate tax exemption, totaling around $2 million each. Most of his assets went to the Marital Trust, administered by Jane and Mozentar.
The two first met about a month after Buffett’s passing, and it was not productive whatsoever. It left Jane with more questions than answers. Over the next 16 months, Jane claims that Mozentar stonewalled her and made excuses as to why he couldn’t provide her with the information that she requested about her finances.
He finally gave Jane an estimate of the Trust’s income in February 2025, ultimately leading to the lawsuit. She discovered the Marital Trust earned less than $2 million, which the lawsuit called a “remarkably poor return for a Trust with an estimated $275 million in assets.”
Mozentar’s estimate did not include the Trust’s earnings from Margaritaville, which should be significant considering the Trust owns 20% of that company.
Allegedly, Mozentar encouraged Jane to sell real estate to cover her annual expenses after he told her the Trust would not cover them.
The suit states, “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.”
Jane called Mozentar “unprofessional and combative” in the suit and alleges that after she asked him to step down from being co-trustee on May 30th, he “refused, insisting that he remain in a position of authority over her wealth.”
The suit claims her fortune is being “controlled by someone she does not trust” and that he is receiving an annual salary of over $1.7 million. Mozentar has yet to respond to any request for comment on this matter.
Read more about the lawsuit here.
