Jimmy Buffett's widowis hitting back againsther late husband'sfinancial adviser, ramping up a legal tug-of-war and alleging he "failed" to administer his multimillion-dollar estate in "good faith." In a complaint filed July 21 in Palm Beach County, Florida, and reviewed by USA TODAY, lawyers for Jane Buffett claim that Richard Mozenter, the co-trustee of her husband's estate, repeatedly "breached his fiduciary duty to Mrs. Buffett," by failing to inform her about the assets and investments involved in the Marital Trust, all while taking home "unreasonable fees" to line his own pockets. A Marital Trust refers to a cache of money or investments that are set aside to support a surviving spouse and avoid estate tax. In this case, Jane Buffett is the sole beneficiary of the Marital Trust, but a co-trustee alongside Mozenter. Jimmy Buffett, 'Margaritaville' singerand mogul, dies: 'He lived his life like a song' Her filing moves to strike Mozenter as a trustee of the estate and comes after he filed his own petition late month, aiming to strike her instead. Now, either party is asking the judge to remove the other, warring over a whopping $275 million estate. Jimmy Buffett, a yacht rock pioneerand beach entertainment mogul,died Sept. 1, 2023, at 76.His sizable estate encompasses not just earnings from the sun-soaked anthems that once made him famous, but also from the chain of "Margaritaville" restaurants and resorts that now dot the globe. He and Jane were married in 1977. In her filings, Buffett alleges that Mozenter only took legal action to have her removed after her lawyers sent him a letter demanding his resignation and threatening to take him to court if he did not comply. Mozenter's original lawsuit, filed June 2 in West Palm Beach, claims that Jimmy Buffett established the trust with him as an independent trustee because the musician had concerns "regarding Jane's ability to manage and control his assets." Jane Buffett was "very angry" about the way the trust was structured, the filing alleged, and "has repeatedly acted in a hostile manner and has been completely uncooperative with Rick in his attempts to administer the Trust." At the time, Buffett responded with her own complaint in Los Angeles Superior Court, claiming Mozenter has been "plainly deficient" as a trustee. Mozenter and Jeffrey Smith, the attorney he hired to represent the trustees, had been hostile toward Jane Buffett and worked against her best interests, she claimed in the lawsuit, adding that Mozenter would not provide her with updates and information about the trust, leaving her "in the dark" about her finances while belittling and disrespecting her. This week's complaint builds on those claims, calling Mozenter's behavior "rude and bizarre" and asking the judge to allow her to replace him with another professional to terminate an "untenable" relationship. "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," Matt Porpora, an attorney for Buffett said in a statement to USA TODAY July 21. "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," he continued. USA TODAY has reached out to Mozenter for comment. Contributing: Kristina Webb, Palm Beach Daily News This article originally appeared on USA TODAY:Jimmy Buffett's wife ramps up battle over $275 million estate
