Photo Credit: Getty Images
Months after mogul Jimmy Buffett's passing, his widow Jane Buffett has found herself locked in an unexpected legal dispute over the very legacy the music legend sought to protect. The conflict, which centers around the $275 million trust the "Margaritaville" singer meticulously built to secure his family's future—a trust that Jane now claims is being mishandled.
On June 3, Jane filed a petition to remove Richard Mozenter, the estate's co-trustee, citing a consistent failure to fulfill fiduciary duties. Her complaint alleges that Mozenter has been "openly hostile and adversarial," withholding essential financial information and ignoring her repeated requests for transparency. According to the documents, he even advised her to "adjust her budget" and consider selling real estate—an eyebrow-raising recommendation for a trust of such magnitude.
Buffett's estate, created in 1990 and updated most recently in 2023, was designed with Jane and their children—Savannah, 46, Delaney, 33, and Cameron, 30—in mind. The bulk of Buffett's assets were to fund a marital trust, co-managed by Jane and an independent trustee. Mozenter, appointed after Buffett's death in September 2023, assumed control of the assets but, as Jane claims, "stonewalled" all efforts to gain clarity on her financial standing.
A close family friend, speaking exclusively to People, emphasized the distress the situation has caused. "Jimmy would never have wanted Jane to be treated like this," the source said. "He trusted her implicitly in every major decision—personal and professional."
Mozenter and his firm have reportedly received nearly $2 million in compensation for services rendered. Yet Jane claims basic duties—like sharing investment reports or projected income—have been neglected. One particularly "shocking" moment came when Mozenter presented her with financials showing less than $2 million in net income for a trust worth over $275 million. Her attorneys called this performance "remarkably poor."
Court filings further accuse Mozenter of belittling Jane during inquiries, describing her requests as not only reasonable but well within her rights. "There was a lot of patience," the family friend noted. "But his refusal to engage has left Jane upset and confused." While Mozenter has yet to publicly respond, the dispute underscores a broader issue of transparency in trust management—especially in high-value estates.
In the aftermath of a 46-year marriage marked by loyalty and partnership, Jane Buffett now faces a different kind of heartbreak. The fight, it seems, is no longer about preserving Jimmy's fortune, but defending the dignity he intended to protect with it.
