Jimmy Buffett’s widow Jane is fighting back against what she calls a calculated campaign to deplete her late husband’s $275 million estate through costly litigation. Married to the iconic “Margaritaville” legend for 46 years until his passing in 2023, Jane has accused co-trustee Richard Mozenter of misappropriating trust funds to finance his own legal disputes without her consent, raising serious concerns about whose interests are truly being prioritized.
The Battle
The conflict has unveiled a troubling pattern: Mozenter, a managing director at Gelfand, Rennert and Feldman LLC, allegedly initiated three separate legal actions that could potentially deplete the very assets he is entrusted to safeguard. Particularly troubling is the allegation that he has been using marital trust funds to finance these litigations, while Jane, the trust’s beneficiary, witnesses her financial security erode with each billable hour.
According to court documents filed in Florida on July 21 and obtained by People, Jane contends that Mozenter has never sought her approval as co-trustee to utilize marital trust assets for what she terms his “retaliatory litigation campaign.”
An alleged source close to the Buffett family expressed frustration to People, stating, “It’s incredibly frustrating to see someone try to take advantage of Jane. All she wants is to live the life Jimmy meant for her after he passed; hopefully, this ends soon so she can finally move forward.”
The genesis of this legal entanglement dates back to June, when Jane initially filed suit against Mozenter in California.
Her complaint painted a picture of a co-trustee who had effectively shut her out of her own financial future. Jane alleged that Mozenter had withheld crucial information regarding the trust’s assets and finances, leaving her in the dark about her financial security. The lawsuit further claimed that he had neglected basic trustee duties and exhibited open hostility toward her, despite her repeated requests for transparency.
In her initial filing, Jane revealed her efforts to resolve the matter amicably, having requested Mozenter’s resignation from his position multiple times in a bid to avoid the costly legal battle that is now consuming trust resources. However, these requests were rebuffed, setting the stage for the current multi-state legal saga.
Jane has since made a strategic decision to consolidate her legal challenge in Florida, where she and Jimmy resided.
Her attorney, Matt Porpora from Sullivan and Cromwell, explained the rationale behind this move: “Jane will not play into Mr. Mozenter’s hands by litigating this dispute in two separate courts across the country, which would drain the very trust money that Jimmy specifically set aside for her care.”
This decision underscores Jane’s commitment to responsible fiduciary stewardship, contrasting sharply with Mozenter’s approach, which she characterizes as wasteful and potentially retaliatory.
According to Jane’s team, she initially hoped for a swift resolution, even providing Mozenter with the California petition before filing it, allowing him to voluntarily step down. A source familiar with the situation shared with People that “Jane always hoped that Rick would resign, avoiding any need to waste trust assets on litigation.”
The escalation to a multi-jurisdictional legal battle highlights the deep-seated conflict that has emerged.
The financial stakes are immense. The $275 million trust represents not only Jimmy’s lifetime of entertaining millions but also Jane’s financial security for the remainder of her life. Every dollar spent on legal fees undermines this security, directly contradicting Jimmy’s intentions when he structured the trust.
Jane’s legal petition seeks court intervention to remove Mozenter and appoint new leadership committed to protecting rather than depleting the estate.
With a hearing scheduled for Aug. 14, the courts will soon weigh in on her allegations of financial mismanagement.
