Jane Slagsvol Vs Richard Mozenter, Buffett Trust Lawsuit

Jane Slagsvol Buffett, Jimmy Buffett’s widow, and Richard “Rick” Mozenter, his longtime financial adviser, are co-trustees of the marital trust Buffett created to provide for his wife and family. Instead of administering it together, they have filed competing petitions asking a court to remove each other.

The trust has been estimated at about $275 million. Much of that value is in business interests, real estate and other assets, not cash.

Where the case stands on November 6, 2026:

No court has finally decided that Jane Buffett or Richard Mozenter breached a fiduciary duty.

On August 20, 2026, Florida’s Fourth District Court of Appeal affirmed one nonfinal order about trust-funded legal fees. That was a narrow ruling, not a verdict on the larger dispute.
A non-jury trial in Palm Beach County has been reported for January 19, 2027.
Who should administer Jimmy Buffett’s trust is still undecided.

Quick Facts: Jane S. Buffett v. Richard Mozenter

Detail	Information
Main case	Richard Mozenter v. Jane S. Buffett, et al., Case No. 502025CP002725XXXANB
Court	Fifteenth Judicial Circuit, Palm Beach County, Florida (Probate Division)
Judge	Charles E. Burton
Appeal	Jane S. Buffett v. Richard Mozenter, No. 4D2026-0573 (Fla. 4th DCA)
Appeal result	Nonfinal fee order affirmed, August 20, 2026
Parties	Jane S. Buffett (widow, co-trustee) and Richard Mozenter (independent co-trustee)
Trust	James W. Buffett 1990 Declaration of Trust, including the Article VI marital trust
Estimated value	About $275 million (asset value, not cash)
Mozenter’s petition	Filed June 2, 2025 (Palm Beach County)
Jane’s petition	Filed June 3, 2025 (California)
Fee order	February 18, 2026
Jane’s additional claims	April 6, 2026
Reported trial date	January 19, 2027 (non-jury)
Settlement	None announced
Class action	No

Who Are Jane Slagsvol Buffett and Richard Mozenter?

Jane Slagsvol Buffett, Jimmy Buffett’s Widow

Jane Slagsvol, identified in court filings as Jane S. Buffett, was married to Jimmy Buffett for about 46 years. They met in the early 1970s and married in 1977. After his death on September 1, 2023, at age 76, she became a co-trustee and the primary lifetime beneficiary of the marital trust.

Richard Mozenter, Jimmy Buffett’s Longtime Financial Adviser

Mozenter is a certified public accountant and a partner at the business management firm Gelfand, Rennert & Feldman. He worked with Buffett for about three decades. Buffett chose him to serve as an independent co-trustee. Mozenter says that role reflects Buffett’s wishes, and that Jane has interfered with it.

How Much Is Jimmy Buffett’s Trust Worth?

The $275 million figure comes from court filings and reporting. It is an estimate of assets, not cash on hand. Reported holdings include:

Asset category	Reported information
Margaritaville business	About 20% indirect equity interest through JB Beta Inc.
Real estate	Properties in Florida, California, New York and other locations
Aircraft-related company	Interest in Strange Bird Inc.
Other investments	Various investment interests
Personal property	Vehicles, musical instruments and equipment
Intellectual property	Music-related and other commercial rights

Why Does the Buffett Trust Have a Cash-Flow Dispute?

A trust can be worth a great deal on paper and still produce limited income. Real estate carries taxes and upkeep. Business interests may pay distributions only at certain times, or retain earnings. Jane argues a trust this size should support her comfortably. Mozenter argues that much of it is in assets that produce little distributable income. That disagreement is why the case covers liquidity, expenses and distribution policy, not just total value.

What Does Jimmy Buffett’s Trust Say About Jane’s Distributions?

The trust was created on December 28, 1990, restated on April 27, 2017, and amended on July 21, 2023, about six weeks before Buffett died. The provisions described in Jane’s petition include:

Lifetime beneficiary. Jane is the sole current beneficiary of the Article VI marital trust. She is entitled to its net income, paid quarterly.
Principal distributions. Principal may be distributed for her health, maintenance and support. The independent trustee may also approve other principal distributions that the trustee considers in her best interests.
Independent trustee. The trust requires an independent trustee to remain in office, with powers that can be exercised without approval from a non-independent trustee.
After Jane’s death. The three Buffett children are remainder beneficiaries under the default terms. But Jane has a testamentary power of appointment over remaining principal, so she may direct it among Buffett’s descendants and charities. Her petition says she is not required to divide it equally among the children.

The actual outcome will depend on the trust’s terms and any valid exercise of that power.

Why Did Jane Slagsvol Buffett Sue Richard Mozenter?

Jane’s petition, filed June 3, 2025, asks the court to remove Mozenter as co-trustee of the marital trust. She says Mozenter failed to administer the trust properly and withheld the financial information she needed. Reports also say she later moved her claims into the Florida proceeding and dismissed the California action. Her main allegations are:

Withheld financial information. She says she began requesting information in October 2023 and went about 16 months without meaningful projections, and that what she received was disorganized bank-statement excerpts.
Low reported income. She says Mozenter’s February 7, 2025 projection showed less than $2 million in annual net income for a trust estimated at $275 million. She also points to distributions from the roughly 20% Margaritaville interest of about $14 million over 18 months. These are different measures, and a business distribution is not the same as net income available to a marital trust.
Fees. She questioned fees she put at about $1.7 million in 2024.
Property costs. She questioned keeping a Bahamas property that reportedly costs about $300,000 a year to operate.
Her priority as beneficiary. She argues the marital trust exists mainly to support her, and the independent trustee must give her interests primary weight in principal decisions.
Retaliation. Reporting describes her position as being that Mozenter acted against her after she demanded his resignation.

These are allegations, and the court has not found that Mozenter breached any duty.

Why Did Richard Mozenter Sue Jane Slagsvol Buffett?

Mozenter filed in Palm Beach County on June 2, 2025, one day before Jane’s California petition. He asks the court to remove Jane as co-trustee of the main trust and the marital trust. He alleges that:

She refused to cooperate. She repeatedly declined to meet about finances, tax planning and management of Buffett’s business interests.
She interfered with the separation of Buffett’s longtime boat captain. He says her conduct raised the settlement cost and violated a non-disparagement provision.
She pushed out Greenberg Traurig. He says the departure of the longtime estate-planning firm added cost and delay, and that Jeff Smith, a potential successor trustee, declined the role as a result.
She interfered with trust loans. He says she told relatives not to make payments owed to the trust, including on a mortgage-secured note.
Buffett wanted an independent trustee in control. He says the structure was deliberate, and that Jane was not meant to have unilateral control.

None of these allegations has been established as a court finding.

Jane Slagsvol vs. Richard Mozenter Lawsuit, Inside Jimmy Buffett's $275 Million Trust Case

What Is the Proposed Decanting of the Buffett Marital Trust?

Mozenter proposed moving assets from the existing marital trust into a new trust, a process called decanting. Reporting says the plan would have removed Jane as co-trustee, kept an independent trustee, changed some distribution and appointment arrangements, and given Jimmy Buffett’s sister, Lucy Buffett, a consent role over some distributions to the children.

Mozenter said the changes would simplify administration. Jane’s lawyers called the plan an attempt to take away her rights and increase Mozenter’s control, and argued it could change the practical effect of her power of appointment.

Mozenter reportedly agreed not to proceed until the court resolved the objections. The decanting has not been approved, and the old marital trust has not been replaced.

How Are Jimmy Buffett’s Three Children Involved?

Savannah, Sarah Delaney and Cameron Buffett have appeared through separate counsel and have not taken the same position.

Savannah Buffett has opposed Jane’s effort to remove Mozenter. At a February 12, 2026 hearing, her attorney stressed his long relationship with Jimmy Buffett. Court filings included alleged text messages in which Jane appeared to threaten an inheritance distribution. Jane’s counsel told the court she has never taken steps to disinherit the children and does not intend to, though the trust gives her a power of appointment.
Cameron Buffett and Sarah Delaney Buffett told the court they are not aligned with either side. They are concerned about the trust’s long-term liquidity, and want it to support their mother while protecting assets that may later pass to the children.

What Is Jane Buffett’s April 2026 Lawsuit Over $6.4 Million?

On April 6, 2026, Jane filed additional claims in Palm Beach County about trust expenditures and a tolling agreement. The reported complaint alleges that about $6.4 million had been paid from trust assets by late November 2025 to Mozenter, his firm and attorneys. That is not $6.4 million received personally by Mozenter. Mozenter’s side disputes her characterization. The court has not found any of the spending improper.

What Is a Tolling Agreement in the Buffett Trust Case?

A tolling agreement pauses or extends the deadline to bring certain claims. Jane reportedly wanted Mozenter to sign one to preserve her breach-of-trust claims. Mozenter’s side said the relevant disclosures had already been made. Jane disputes that what she received counts as a proper trust disclosure or accounting that starts the limitations clock.

Did a Florida Court Let Richard Mozenter Pay Legal Fees From Jimmy Buffett’s Trust?

Yes, in a limited way. In late August 2025, Judge Burton declined to suspend Mozenter immediately and ordered the co-trustees to mediation. On February 18, 2026, he allowed Mozenter to use trust assets for reasonable attorneys’ fees and costs. He denied Jane’s request to block that spending and to recover about $2 million she said had already been used. Jane called it a blank check. The order did not find that every bill was reasonable.

What Did the Fourth District Court of Appeal Decide on August 20, 2026?

In Jane S. Buffett v. Richard Mozenter, No. 4D2026-0573, a panel of Judges Gross, Conner and Klingensmith affirmed the nonfinal order. The opinion is short. It did not decide whether either co-trustee breached fiduciary duties, whether the $6.4 million was reasonable, who should be removed, or whether all future fees must come from the trust. Orders in trust and probate matters can reach the appellate court under Florida’s appellate rules, including Rule 9.170 for probate and guardianship orders and Rule 9.130 for certain nonfinal orders.

Read the official August 20, 2026 appellate opinion.

What Laws Apply to the Jane Buffett and Richard Mozenter Trust Lawsuit?

The main framework is the Florida Trust Code, Chapter 736 of the Florida Statutes. Jane’s original removal petition was filed in California, so California trust law is also relevant to that filing.

Florida Statutes § 736.0706: Removal of Trustee

A settlor, co-trustee or beneficiary may petition to remove a trustee. A court may remove one for a serious breach of trust; for lack of cooperation among co-trustees that substantially impairs administration; for unfitness, unwillingness or persistent failure to administer effectively where removal serves the beneficiaries; or after a substantial change in circumstances if the statutory conditions are met. This is the provision behind both removal petitions. A disagreement between trustees does not automatically justify removal.

Florida Statutes § 736.0703: Co-Trustees

This section governs how co-trustees act together, including how decisions are made when there is more than one trustee. It matters here because the trust gives the independent trustee certain powers and the two co-trustees disagree about their roles.

Florida Statutes § 736.0801: Duty to Administer the Trust

A trustee must administer the trust in good faith, according to its terms and purposes, in the interests of the beneficiaries, and in compliance with the Florida Trust Code.

Florida Statutes § 736.0802: Duty of Loyalty

A trustee must administer the trust solely in the interests of the beneficiaries. The statute also addresses transactions affected by a conflict between the trustee’s duties and personal interests. A decision a beneficiary dislikes is not automatically a violation.

Florida Statutes § 736.0803: Impartiality

When a trust has several beneficiaries, the trustee must act impartially in line with the trust’s terms. Jane is the primary lifetime beneficiary and the children hold future interests, so the specific distribution provisions control how that balance works.

Florida Statutes § 736.0804: Prudent Administration

A trustee must administer the trust as a prudent person would, considering the trust’s purposes, terms and circumstances. That bears on the questions about the trust’s investments, liquidity and low projected income.

Florida Statutes § 736.0813: Duty to Inform and Account

A trustee must keep qualified beneficiaries reasonably informed, give notice of the trust, provide a copy of the trust instrument on reasonable request, and provide trust accountings at least annually unless an exception applies. This is the statute closest to Jane’s complaint about financial transparency.

Florida Statutes §§ 736.0708 and 736.0709: Compensation and Reimbursement

These sections address a trustee’s reasonable compensation and reimbursement of properly incurred expenses. They are relevant to the challenges to Mozenter’s fees and the use of trust funds.

Florida Statutes § 736.0802(10): Attorney Fees Paid From Trust Assets

Florida law lets a trustee pay certain attorneys’ fees and litigation costs from trust assets when the statutory conditions are met. For breach-of-trust claims or defenses raised in a filed pleading, the statute requires written notice to affected qualified beneficiaries, and a beneficiary may ask the court to prohibit the payment or order fees returned. The February 2026 order, affirmed on appeal, has to be read within that framework.

Florida Statutes §§ 736.1004 and 736.1005: Attorney Fees in Trust Proceedings

These sections let a court award attorney fees and costs in trust proceedings and in proceedings for breach of trust. They matter to the eventual fight over who bears the cost of the litigation.

Florida Statutes § 736.1001: Remedies for Breach of Trust

If a trustee breaches a duty, the court may compel performance, prevent an anticipated breach, order the trustee to restore money or property, order an accounting, appoint a special fiduciary, suspend or remove the trustee, reduce or deny compensation, or grant other relief. The court’s options are not limited to choosing either Jane or Mozenter.

Florida Statutes § 736.1008: Limitations on Claims Against Trustees

A claim about a matter adequately disclosed in a trust disclosure document can be barred if the beneficiary does not begin proceedings within the statutory period after receiving the document, which is six months under § 736.1008(2) for qualifying disclosures. That is why the adequacy of Mozenter’s disclosures, and the tolling-agreement dispute, matter.

Florida Statutes § 736.04117: Decanting

An authorized trustee with the required discretionary power may be able to distribute principal into a second trust, subject to statutory limits that protect beneficiary interests and vested rights. Whether Mozenter’s proposal fits those limits depends on the trust and the statute. The court has not approved it.

California Probate Code §§ 17200 and 15642

Jane’s original June 2025 petition was filed in California. Cal. Prob. Code § 17200 allows petitions concerning the internal affairs of a trust, and § 15642 addresses removal of a trustee. The California action was reportedly dismissed and the claims pursued in Florida.

Official legal sources:

Is the Jimmy Buffett Dispute a Fight Over His Will?

Not mainly. The central case is about administration of the James W. Buffett 1990 Declaration of Trust and the marital trust created under it, not about whether a will is valid. The questions are:

Who should serve as trustee?
What financial information must Jane receive?
How much authority does the independent trustee have?
When should the marital trust distribute income or principal?
Can trust money pay for the litigation?
Can assets be moved to a new trust?
How should Jane’s rights and the children’s interests be balanced?

For another example of a celebrity estate dispute involving trustees, see our article, Dolly Parton Bryan Seaver Lawsuit Update: She’s Alive LLC Files to Dismiss Case Without Prejudice.

Timeline of the Jane Slagsvol Buffett and Richard Mozenter Lawsuit

Date	Development
December 28, 1990	Jimmy Buffett creates the original trust
April 27, 2017	Trust restated
July 21, 2023	Trust amended
September 1, 2023	Jimmy Buffett dies at age 76
October 2023	Jane begins requesting trust financial information, per her petition
February 7, 2025	Mozenter provides income and expense projections, per Jane’s filing
June 2, 2025	Mozenter files in Palm Beach County to remove Jane
June 3, 2025	Jane files a California petition to remove Mozenter
Late August 2025	Judge declines immediate suspension of Mozenter and orders mediation; decanting objections pending
February 12, 2026	The Buffett children state their positions in court
February 18, 2026	Judge allows reasonable trust-funded legal fees and costs
February 26, 2026	Jane challenges the fee order and seeks a stay
April 6, 2026	Jane files additional claims on expenditures and the tolling agreement
April 2026	Non-jury trial reportedly set for January 2027
August 20, 2026	Fourth DCA affirms the nonfinal fee order
September 12, 2026	The Wall Street Journal publishes a detailed account of the dispute
January 19, 2027	Reported non-jury trial date

When Is the Jane Buffett and Richard Mozenter Trial?

A non-jury trial has been reported for January 19, 2027 before Judge Charles E. Burton in Palm Beach County. The judge, not a jury, will decide the issues presented. They may include whether either co-trustee seriously breached the trust, whether the co-trustees’ relationship substantially impairs administration, whether Jane or Mozenter should be removed, whether the expenditures were proper, whether a further accounting is required, and whether the restructuring can proceed. The January 19 date is a reported setting, not a guarantee of a final resolution.

Could the Court Remove Both Jane Buffett and Richard Mozenter?

It is a possible outcome, though none has been ordered. Under § 736.0706 and § 736.1001, the court can remove a trustee, appoint a special fiduciary or take other protective steps. If it finds the co-trustees cannot work together, appointing a neutral professional fiduciary is one option. That would not mean either person was guilty of every allegation. No removal order has been reported.

Jane Slagsvol vs. Richard Mozenter Lawsuit: Frequently Asked Questions

Why is Jane Slagsvol Buffett suing Richard Mozenter?

She accuses Mozenter of failing to give adequate financial information, mishandling the marital trust, and using unreasonable amounts of trust money for fees and legal expenses. She wants him removed as co-trustee.

Why is Richard Mozenter suing Jane Buffett?

He alleges that Jane was uncooperative, interfered with trust administration and harmed the trust. He asks the court to remove her as co-trustee.

How much is Jimmy Buffett’s trust worth?

It has been estimated at about $275 million. That estimates assets and holdings, not cash available.

Who inherits Jimmy Buffett’s money?

Jane is the primary lifetime beneficiary of the marital trust. The three children are remainder beneficiaries under the default terms, subject to Jane’s power of appointment over remaining principal.

Does Jane Buffett own the entire $275 million trust?

No. A lifetime beneficiary does not personally own every trust asset. The assets are held and administered under the trust instrument.

Who is Richard Mozenter?

He is a CPA and partner at Gelfand, Rennert & Feldman who advised Jimmy Buffett for about 30 years. He was appointed independent co-trustee.

Did Jane receive only $2 million from the trust?

No. The roughly $2 million figure is the annual net income projection Jane says Mozenter gave her in February 2025. It is not the trust’s value or a confirmed distribution to her.

What is the $6.4 million legal spending allegation?

Jane’s April 2026 complaint reportedly alleges that about $6.4 million was paid from trust assets to Mozenter, his firm and attorneys by late November 2025. It is disputed, and no court has found it improper.

Did the court approve Mozenter’s legal fees?

On February 18, 2026, the Palm Beach judge allowed reasonable fees and costs from the trust. The Fourth District affirmed that nonfinal order on August 20, 2026. That does not mean every amount billed was reasonable.

Did Jane Buffett win her appeal?

No. The Fourth District affirmed the order she challenged. The underlying case continues.

What is trust decanting?

It is the transfer of assets from an existing trust to another trust when the trustee has the legal authority to do so. The proposal in this case is disputed and has not been approved.

Which side are the Buffett children on?

They are split. Savannah’s attorney has supported keeping Mozenter. Cameron and Delaney told the court they are not aligned with either side.

When will the Buffett trust lawsuit go to trial?

A non-jury trial has been reported for January 19, 2027, in Palm Beach County, Florida.

Has a judge found Richard Mozenter mismanaged the trust?

No. There is no final judgment finding that he breached his duties.

Has Jane Buffett been removed as trustee?

No final removal order has been reported for either co-trustee.

Has the Buffett trust lawsuit settled?

No settlement has been announced.

The Bottom Line on the Jane Slagsvol Buffett and Richard Mozenter Trust Battle

The case is about more than a $275 million valuation. It asks what a trustee must disclose, how much authority an independent trustee has, how a surviving spouse’s support is balanced against children’s future interests, and whether trust money may fund litigation between the trustees. As of November 6, 2026, neither Jane Buffett nor Richard Mozenter has won the larger dispute. The August appeals decision resolved only a narrower legal-fee question, and the January 2027 trial is expected to address trustee removal and administration.

Sources and Court Records

Research note: The June 2025 petitions and the August 20, 2026 opinion were accessible directly. The April 2026 complaint and the January 19, 2027 trial date come from press reports, not the docket. The $6.4 million figure is Jane’s reported allegation, not a court-verified accounting. No settlement, final judgment or removal order is presented as fact.

Disclaimer: This article is legal information, not legal advice, and AllAboutLawyer.com is not a law firm. Allegations remain disputed unless a court has decided them.

Researched and written by Israr Ahmad, legal content researcher and founder of AllAboutLawyer.com. All facts verified against the Fourth District opinion in Case No. 4D2026-0573, the June 2025 petitions, and published reporting from the Wall Street Journal, Associated Press, People and Palm Beach Daily News, as of November 6, 2026. Last Updated: November 6, 2026.

About the Author

Israr Ahmad is a legal content researcher with 4+ years of experience covering class action settlements and consumer rights cases. He has researched and published coverage of 2,500+ settlements using verified court records, settlement administrator filings, and government sources. Learn more about Israr.