Musician Jimmy Buffett and wife Jane Slagsvol arrive for the New York University Child Study Center Gala at Cipriani in midtown on December 4, 2006 in New York City. (Photo by Donna Ward/Getty Images)
Share this @internewscast.com

(The Conversation) – Lawyers frequently advise clients that it is crucial for everyone to have a will that specifies who should inherit their assets after passing away. However, merely having a will may not suffice to prevent an expensive and contentious legal battle.

Consider the case following the death of Jimmy Buffett from skin cancer at the age of 76 in 2023. The famed singer and founder of the Margaritaville brand stipulated in his will that his wealth should be placed into a trust posthumously. Buffett appointed two co-trustees to oversee the trust: his widow, Jane Slagsvol, and Richard Mozenter, an accountant and his financial adviser for over 30 years.

Musician Jimmy Buffett and wife Jane Slagsvol arrive for the New York University Child Study Center Gala at Cipriani in midtown on December 4, 2006 in New York City. (Photo by Donna Ward/Getty Images)
Musician Jimmy Buffett and wife Jane Slagsvol arrive for the New York University Child Study Center Gala at Cipriani in midtown on December 4, 2006 in New York City. (Photo by Donna Ward/Getty Images)

Nevertheless, in separate petitions filed in Los Angeles and Palm Beach, Florida, in June 2025, Slagsvol—referred to as Jane Buffett in her filing—and Mozenter are each seeking to remove the other as a trustee.

The outcome of this litigation will determine who gets to administer Buffett’s $275 million estate.

As law professors who specialize in trusts and estates, we teach graduate courses about the transfer of property during life and at death. We believe that the Buffett dispute offers a valuable lesson for anyone with an estate, large or small. And choosing the right person to manage the assets you leave behind can be just as important as selecting who will inherit your property.

Buffett’s business empire

Buffett’s estate includes valuable intellectual property from his hit songs, including “It’s 5 O’Clock Somewhere,” “Oldest Surfer on the Beach” and “Cheeseburger in Paradise.” Buffett’s albums have sold more than 20 million copies worldwide and continue to generate some $20 million annually in royalties. Buffett also owned a yacht, real estate, airplanes, fancy watches and valuable securities.

In addition, he owned a 20% stake in Margaritaville Holdings LLC, a brand management company he and Slagsvol founded in the 1990s. Margaritaville owns 30 restaurants and 20 hotels, along with vacation clubs, casinos and cruise ships. It also sells branded merchandise.

According to Slagsvol’s petition, Buffett’s trust was set up to benefit his widow. Slagsvol, who married Buffett in 1977, is one of two trustees of that trust, which is required to have at least one “independent trustee” in addition to her “at all times.” That requirement is stated expressly in Buffett’s trust declaration.

Slagsvol receives all income earned by the trust – an estate-planning technique for giving away property managed by a trustee on behalf of the trust beneficiaries – for the rest of her life. She can also receive additional trust funds for her health care, living expenses and “any other purpose” that the independent trustee – Mozenter, as of July 2025 – deems to be in Slagsvol’s best interests.

The estate plan also created separate trusts for their three children: Savannah, Sarah “Delaney” and Cameron Buffett, who are in their 30s and 40s. Each child reportedly received $2 million upon Jimmy’s death. When Slagsvol dies, she can decide who will receive any remaining assets from among Buffett’s descendants and charities.

The structure of Buffett’s plan is popular among wealthy married couples. It provides lifelong support for the surviving spouse while ensuring that their kids and grandchildren can inherit the remainder of their estate – even if that spouse remarries. This type of trust typically cannot be changed by the surviving spouse without court approval.

Rear view of female caregiver walking with retired male on footpath.
If you’re fortunate enough to reach your golden years with a sizable nest egg, it helps your loved ones if you can draft a detailed will. You might also want to consider establishing a trust. Maskot/Getty Images

Dueling trustee removal petitions

Slagsvol is trying to remove Mozenter as the trust’s independent trustee.

She claims he refused to comply with her requests for financial information, failed to cooperate with her as her co-trustee, and hired a trust attorney who pressured her to resign as trustee. Slagsvol also raised numerous questions about the trust’s income projections and compensation paid to Mozenter for his services.

Mozenter’s petition, filed in Florida, is not available to the public. According to media coverage of this dispute, he seeks to remove Slagsvol as trustee. He claims that, during his decades-long role as Buffett’s financial adviser, the musician “expressed concerns about his wife’s ability to manage and control his assets after his death.”

That led Buffett to establish a trust, Mozenter asserted, “in a manner that precluded Jane from having actual control” over it.

Estate planning lessons

We believe that the public can learn two important estate planning lessons from this dispute.

First, anyone planning to leave an estate, whether modest or vast, needs to choose the right people to manage the transfer of their property after their death.

That might mean picking a professional executor or trustee who is not related to you. A professional may be more likely to remain neutral should any disputes arise within the family, but hiring one can saddle the estate with costly fees.

An alternative is to choose a relative or trusted friend who is willing to do this for free. About 56% of wills name an adult child or grandchild as executor, according to a recent study. Some estates, like Buffett’s trust, name both a professional and a family member. An important consideration is whether the people asked to manage the estate will get along with each other – and with anyone else who is slated to inherit from the estate.

The second lesson is, whether you choose a professional, a loved one or a friend to manage your estate, make clear what circumstances would warrant their removal. Courts are reluctant to remove a handpicked trustee without proof of negligence, fraud or disloyalty. But trustees can be removed when a breakdown in cooperation interferes with their ability to administer the estate or trust.

Some trusts anticipate such conflicts by allowing beneficiaries to replace a professional trustee with another professional trustee. That can resolve some disputes while avoiding the cost of seeking court approval.

Preventing disputes from erupting in the first place can help people avert the costly and embarrassing kind of litigation now ensnaring Jimmy Buffett’s estate.

Share this @internewscast.com
You May Also Like

Fast Food Chain Introduces Spanish Ordering on All Platforms

Bojangles, the fast-food company famous for its Southern-style chicken, announced on Monday…

Couple murdered while hiking with daughters in Arkansas state park, according to police

Authorities reported on Sunday that a man and woman recently relocated to…

Trump Announces US Support for Food Distribution Centers in Gaza

President Trump said Monday the United States would be getting more involved…

Illinois State Police Share Results of Recent Traffic Enforcement Effort

In Sangamon County, Illinois, a six-day collaborative traffic enforcement operation led by…

Heroic Trooper Rescued Man from Flaming Car, Sustains Injury

TAYLORSVILLE, Utah (ABC4) — Seven people were taken to the hospital after…

Roy Cooper, Former Governor, Joins North Carolina Senate Race

Former North Carolina Gov. Roy Cooper is entering the state’s Senate race,…

How to Safely Drive Near Motorcycles: A Helpful Guide

SAVANNAH, Ga. () — When you’re driving near motorcyclists, a little extra…

Trump Secures His Desired World Economy, But Growth Risks Could Taint His Triumph

WASHINGTON – President Donald Trump is getting his way with the world…

Consuming eggs weekly could reduce Alzheimer’s risk by up to 50%, according to research.

(NewsNation) — A new study suggests diets including eggs, especially the yolk,…

Couple Tragically Killed While Hiking with Daughters in Arkansas Park, Authorities Report

IE 11 is not supported. For an optimal experience visit our site…

Sheriff Confirms Identification of Missing Texan Found During Deadly Flood Recovery

AUSTIN (KXAN) On Friday, the Travis County Sheriff’s Office (TCSO) said it…

Trump Threatens Faster Deadline for Russia to Agree to Ceasefire, Warns of Consequences

(The Hill) – President Trump informed reporters of his intention to reduce…