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The fight for the farm of Jimmy Buffett has caused a massive legal battle.
His widow has presented a petition so that the co-juice Richard Mozenter, who manages the heritage of the late musician, was eliminated for not acting in his “better interests” with the conjugal confidence that was “created for his benefit.”
Jane Buffett, who married the singer in 1977, made the legal presentation at the Superior Court of Los Angeles on Tuesday, claiming that Mozenter, also co-foment of marital trust established for her, has been “openly hostile and adversary” towards her and worked against her, according to the legal presentation obtained by Fox News Digital.
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The fight for the farm of Jimmy Buffett has caused a massive legal battle. (Dia Dipasupil/Getty Images)
“Mr. Mozenter has not been able to perform even the most basic tasks of him in his role as co-trustee, including providing Mrs. Buffet with information about the assets and finance of trust, which has left Mrs. buffett in the dark with respect to the state of her own finances,” the presentation said. “On the way, Mr. Mozenter has belittled, not respected and condescended to Mrs. buffet in response to his reasonable requests of information that he undoubtedly had the right to receive. As a result, the majority of the net of Mrs. buffett is controlled by someone in it, and who is the trust for its benefit, must pay huge, more than $ 1.7 million in 2024 Sign, it is not the trust of his trust, more.
Mozenter has presented its own request in Florida to eliminate it as co-juice and representative of the farm, according to The Hollywood Reporter.
Fox News Digital has communicated with Mozenter to comment.
Jimmy Buffett died at 76 years after fighting cancer. (Bruce Glikas/Filmmagic/Getty Images)
Jimmy Buffett died in 2023 after a battle against cancer, leaving a heritage of $ 275 million.
Jane's presentation states that a month after the musician's death, he communicated with Mozenter to find out how much he would be expected to receive from the trust in the future.
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“Instead of helping his client recently developed to understand his finances, Mr. Mozenter spent the next 16 months of stone and excuse why he still could not provide the requested information,” the presentation said.
Jimmy Buffett and Jane Buffett married in 1977. (Arturo Holmes/Filmmagicxx)
In February, Mozenter finally gave Jane an estimate that the marital trust would generate less than $ 2 million in net income annually, a rate of yield of less than 1%, according to the presentation.
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Mozenter “acknowledged that, in the previous 18 months, Margaritaville, a company of which the trust has approximately 20%, had paid distributions of approximately $ 14 million, but decided not to include any estimate of Margaritaville's future distributions in its analysis of the future income of the marital trust.”
The presentation declared that Mozenter told Jane that Margaritaville “continues to evaluate future commercial opportunities and how they implement existing liquid assets.”
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He said, according to that analysis, that the trust would not cover its annual expenses, saying that they could consider making “adjustments” or selling their own real estate to compensate for the difference, says the presentation.
Jimmy Buffett and his wife Jane in 1993 (Ron Galella, Ltd./ron Galella Collection through Getty Images)
“If the Trust marital really wins such a low consistent performance with the finances presented by Mr. Mozenter, he will confirm that Mr. Mozenter is not competent to administer confidence or not be willing to act in the best interests of Mrs. Buffet,” said Jane's presentation.
Buffet landed in the Forbes billionaire list For the first time in 2023 for an empire that, together with its music, included its escapism brand of the island “Margaritaville” caused by its successful 1977 song. As president of Margarita Holdings LLC, in which Buffet had a 28%participation, had resorts, restaurants, casinos, cruises and goods.
Jimmy Buffett acting in 1999 (David Atlas/NBC/NBC Newswire)
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After their marriage in 1977, Buffett and Jane welcomed three children together, including Savannah, 46, Delaney, 33, and Cameron, who was born in 1994 and adopted by Buffett and Jane.
Larry Fink of Fox News contributed to this report.
