FORT LAUDERDALE, Fla. (AP) — Jimmy Buffett’s widow accused her late husband of financial advisors of not managing the singer’s multi-million dollar trust in good faith, ignoring what she believed was her greatest profit for the $275 million property.
Jane Buffett asked a judge in West Palm Beach, Florida on Monday to stop Richard Mosenter from trying to take her away as a trustee, and instead asked for an order to avoid him overseeing the property, according to court documents.
Jimmy Buffett, who popularized Beach Bum Soft Rock and created the “Margaritaville” Empire of restaurants and resorts, passed away on September 1, 2023, in 1976.
His widow and Mogenter have since been caught up in a fight over those who control the trust, each of whom falsely accusing false funds in lawsuits filed in both California and Florida.
The conflict resembles another that is going on with the estate of another beloved singer, Tony Bennett. The two daughters of the late crooner sued the brothers over the treatment of their family’s trust.
Jane Buffett’s Monday filing accused Mogenter of “recurring” basic information about the assets and investments of “recurring” the trust’s “recurring” breaching his fiduciary duties by “incurring unfair fees and expenses in the context of the services provided.”
On May 30, Jane Buffett’s lawyer provided Mogenter with a copy of the petition that he would be filed in Los Angeles Superior Court if he did not resign as a co-conspirator by June 2.
Instead, Mogenter’s lawyer filed a petition at West Palm Beach on June 2, with documents showing that Buffett is seeking removal as co-ruler. Jane Buffett’s complaints were filed in Los Angeles on June 3, where Mosenter is the managing director of Gelfund, Rennert and Feldman LLC.
“In particular, Mr. Mogenter only led to this (and his other) retaliatory, unfounded behaviour after Mrs. Buffett informed him that if he had not resigned, he would launch a lawsuit against him and seek a lawsuit as a joint trust,” the complaint said.
In the lawsuit, Mogenter argued that Jimmy Buffett established a trust as an independent council member with Mogenter because he was concerned about his wife’s “ability to manage and control assets.”
The complaint filed Monday in Florida says that Jane Buffett’s relationship with Mogenter is “unacceptable” and asks the judge to remove Mogenter as a co-produced work.
“Jane will not challenge the hands of Mr. Mogenter by litigating the dispute in two separate courts across the country, which will drain the money from the trust Jimmy has specifically secured for her care,” Attorney Matt Polpola said.
“Instead, Jane brings a fight to Florida, where she and Jimmy call the house. Jane is sure she will win, regardless of where her claims are heard. Her decision to move her claims to Florida shows that it is the only joint trust she is trying to preserve – not waste – the trust assets said,” Polpara said.
Mozenter did not immediately respond to emails seeking comment.
