A major legal battle has started over Jimmy Buffett’s $275 million estate. His wife, Jane Buffett, has filed a case in Los Angeles Superior Court, claiming that the co-trustee, Rick Mozenter, is not managing the estate properly. This story is now one of the top daily news highlights in celebrity and estate law.
Why Jane Buffett Is Taking Legal Action
Jane Buffett says there is a serious and “unsolvable rift” between her and Rick Mozenter. She accuses him of acting against her best interests. According to court papers:
- The trust, which holds most of Jimmy Buffett’s wealth, is giving Jane less than $2 million a year.
- That return is less than 1% of the total value of the estate.
- Mozenter allegedly told Jane to either cut down her lifestyle or sell her own property to cover any financial shortfall.
Jane asked Mozenter to resign by a set deadline. When he didn’t, she moved ahead with a lawsuit. In response, Mozenter filed his own petition in Florida court asking that Jane be removed as co-trustee and personal representative of the estate.
Background: Jimmy Buffett’s Life and Wealth
Jimmy Buffett, famous for his beach-themed songs like “Margaritaville,” died in 2023 after battling a rare skin cancer.
- He started as a country singer and later found success with a laid-back, tropical music style.
- His brand grew into a major business empire called Margaritaville, with restaurants, hotels, and merchandise.
- The Margaritaville company is partially owned by the same trust that manages his estate.
After Jimmy passed away, most of his assets were either held in or moved into a trust meant to support his wife, Jane.
Financial Disputes and Concerns Raised by Jane
A month after Jimmy’s death, Jane Buffett asked Mozenter for a clear breakdown of how much money she could expect. But she says she received no answer for over a year. Eventually, she hired a lawyer to demand the information.
When she finally got a response in early 2025:
- She was told that $275 million in assets would give her less than $2 million a year.
- Mozenter admitted that Margaritaville paid the trust about $14 million in the last 18 months.
- Still, he did not include any future earnings from Margaritaville in the financial estimate.
Mozenter told her the company was still thinking about future business opportunities and how to use their liquid assets, according to the complaint.
Other Major Issues in the Legal Fight
Jane Buffett also raised several other complaints in the petition:
- High Management Fees: Mozenter’s firm earns $1.7 million a year for managing the trust.
- Choice of Lawyer: Mozenter pushed Jane to approve Jeffrey Smith as legal counsel. Smith later accused Jane of breaking trust duties and allegedly threatened her.
- Short Deadlines: Jane received a large estate tax document and was given only three days to review and respond, which she called unreasonable.
- Property Transfers: Jane claims that valuable properties in New York, Florida, and St. Barthélemy were wrongly moved to the estate when they were meant to be hers.
These events have caused a total breakdown in the relationship between Jane and Mozenter.
What’s Next in the Buffett Estate Case
This breaking news story shows how even the wealthiest families can end up in serious legal battles over money and trust. Jane Buffett wants fair treatment and proper management of the estate her husband left behind.
The court must now decide:
- Whether Rick Mozenter mismanaged the trust
- If Jane should continue as co-trustee
- How the $275 million estate should be handled in the future
As this story continues to develop, it remains one of the top daily news highlights in celebrity estate drama. Readers should stay tuned for updates as the case moves forward in both California and Florida courts.
