Jimmy Buffett's widow accuses financial adviser of breaching fiduciary
duty in $275M trust battle
[July 22, 2025]
By FREIDA FRISARO
FORT LAUDERDALE, Fla. (AP) — Jimmy Buffett ’s widow has accused her late
husband’s financial adviser of failing to administer the singer’s
multimillion-dollar trust in good faith and ignoring what she believed
were her best interests for the $275 million estate.
Jane Buffett on Monday asked a judge in West Palm Beach, Florida, to
stop Richard Mozenter from trying to remove her as a trustee and instead
sought an order removing him from overseeing the estate, according to
court papers.
Jimmy Buffett, who popularized beach bum soft rock and created a
“Margaritaville” empire of restaurants and resorts, died Sept. 1, 2023,
at 76.
His widow and Mozenter have since been embroiled in a battle over who
controls the trust, with each accusing the other of mishandling funds in
lawsuits filed in both California and Florida.
The dispute is similar to another going on with the estate of another
beloved singer, Tony Bennett. Two of the late crooner’s daughters sued
their brother over his handling of the family trust.
Jane Buffett's filing on Monday accuses Mozenter of “repeatedly”
breaching his fiduciary duty by failing to provide her with basic
information about the trust's assets and its investments while taking
“unreasonable fees and costs in the context of the services provided.”
On May 30, Jane Buffett's lawyers provided Mozenter's lawyers a copy of
a petition they planned to file in Los Angeles Superior Court if he did
not resign as cotrustee by June 2, the filing states.
Mozenter's counsel instead filed a petition June 2 in West Palm Beach,
seeking Buffett's removal as cotrustee, documents show. Jane Buffett's
complaint was filed June 3 in Los Angeles, where Mozenter is managing
director at Gelfand, Rennert and Feldman LLC.
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In this Feb. 9, 2023, photo provided by the Florida Keys News
Bureau, singer-songwriter Jimmy Buffett performs during a concert in
Key West, Fla. (Rob O'Neal/Florida Keys News Bureau via AP)
“Notably, Mr. Mozenter only brought this (and his other) retaliatory,
baseless action after Mrs. Buffett had informed him that, absent his
resignation, she would initiate litigation against him to seek his
removal as co-trustee,” the complaint said.
Mozenter claimed in his lawsuit that Jimmy Buffett established the trust
with Mozenter as an independent trustee because he was concerned about
his wife's “ability to manage and control his assets.”
The complaint filed Monday in Florida says the relationship between Jane
Buffett and Mozenter is “untenable,” and asks the judge to remove
Mozenter as cotrustee.
“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,” said
attorney Matt Porpora.
“Instead, Jane is bringing the fight to Florida, where she and Jimmy
called home. Jane is confident she will prevail regardless of where her
claims are heard, and her decision to move her claims from California to
Florida illustrates that she is the only co-trustee looking to conserve
— not waste — trust assets,” Porpora said.
Mozenter did not immediately respond to an email seeking comment.
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