From CNBC: 2025-06-13 08:22:00

A court battle over Jimmy Buffett’s $275 million estate has sparked litigation concerns over trillions in wealth being passed down. Buffett’s widow, Jane, seeks to remove co-trustee Richard Mozenter for alleged hostility and mismanagement. Jimmy’s estate includes homes, cars, planes, and an $85 million stake in Margaritaville.

The case exposes disputes over inheritances and trustees. Buffett’s will directed assets to a marital trust for Jane and named Mozenter as co-trustee. Jane accuses Mozenter of withholding financial info and projecting low income. Attorneys say appointing a co-trustee is common but can lead to hostility between beneficiaries and trustees.

Mozenter claims Jimmy doubted Jane’s ability to manage assets and created the trust to prevent her from controlling it. Tensions often arise when a beneficiary feels uninformed or lacks decision-making power. Experts say judges may appoint a new trustee to replace Jane and Mozenter due to their unworkable relationship.

Attorneys note that Buffett could have communicated estate plans better and added a “removal right” in the trust. They caution against naming friends or business associates as trustees, as conflicts of interest may arise. Professional trustees are recommended for smoother wealth transfers and minimal disputes.



Read more at CNBC: Battle over Jimmy Buffett estate highlights risks of family trusts