A legal dispute has emerged concerning the estate of the late singer Jimmy Buffett, with his widow, Jane Buffett, alleging a lack of transparency from the co-trustee regarding the substantial $275 million involved.
Court documents reveal that Jane Buffett has accused co-trustee Richard Mozenter and attorney Jeffrey Smith of being 'openly hostile' towards her. She claims they have failed to provide essential information about the Trust's assets and finances, leaving her in the dark about her own financial standing.
Jane's legal team stated that Mozenter has belittled and disrespected her in response to her requests for information.
According to court filings, Jane Buffett's legal team stated that she has repeatedly urged Mozenter to 'act responsibly and perform his duties' without success.
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.'
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.
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.
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.