Jimmy Buffett’s Kids Pulled Into $275M Trust War Over Questions About Jane’s Alleged Drug Use

LOS ANGELES - MAR 28: Jimmy Buffett at "The Beach Bum" Premiere at the ArcLight Hollywood on March 28, 2019 in Los Angeles, CA
Image Credit: Kathy Hutchins / Shutterstock.

Jimmy Buffett’s $275 million trust battle has drawn two of his children into a new dispute over discovery requests concerning their mother, Jane Buffett.

Longtime Buffett financial adviser Richard Mozenter sought records and communications from Cameron Buffett and Sarah Delaney Buffett involving Jane’s use of prescription and non-prescription drugs from August 2023 to the present, according to court documents obtained by TMZ. The requests specifically referenced ketamine and marijuana.

Cameron and Delaney objected, describing the requests as overly broad and saying they sought “harassing documents” unrelated to the financial and fiduciary issues before the court. The publicly reported material does not establish that Jane improperly used ketamine, marijuana or any other substance.

The discovery dispute is part of the continuing legal fight between Jane and Mozenter, whom Jimmy named as co-trustees of the marital trust he established before his death in September 2023.

Jane and Mozenter Are Trying to Remove Each Other as Co-Trustee

Jane has accused Mozenter of withholding financial information, excluding her from decisions involving assets held for her benefit and spending trust money on litigation. She is seeking his removal as co-trustee.

Mozenter denies mismanaging the trust and is seeking Jane’s removal in return. He argues that Jimmy intentionally appointed an independent co-trustee rather than giving Jane sole authority and says he has been carrying out the estate structure Buffett created.

Jimmy placed an estimated $275 million in assets into the marital trust, with Jane as its sole lifetime beneficiary and the couple’s three children as remainder beneficiaries after her death. The Wall Street Journal reported that the trust includes real estate, business interests, aircraft, vehicles and a substantial stake connected to the Margaritaville business.

The Buffett Children Have Taken Different Positions in the Fight

The litigation has not produced a single position among Jimmy and Jane’s three children. Savannah Buffett has supported Mozenter remaining involved in the trust, while Cameron and Delaney have taken positions more closely aligned with protecting the assets and ensuring their mother receives the benefits provided by Jimmy’s estate plan.

Cameron and Delaney’s latest objections bring them further into litigation that initially centered on Jane and Mozenter. Discovery has increasingly involved family members, former advisers and other people connected to Jimmy’s financial affairs.

The disagreement has also moved beyond competing interpretations of investment performance and trust administration. Court filings have exposed disputes over access to information, legal spending, trustee authority and now requests for private communications involving Jane.

The Trust Dispute Is Moving Toward a January Trial

The case has already reached Florida’s appellate courts over whether trust assets can be used to cover Mozenter’s legal expenses. A Palm Beach County judge allowed reasonable attorneys’ fees and costs to be paid from the trust, and Jane appealed that decision.

On August 20, Florida’s Fourth District Court of Appeal affirmed the lower court’s order. The brief opinion did not provide a detailed explanation for the ruling.

The Wall Street Journal reports that the broader dispute over who should control the trust is headed toward trial in January. Discovery is continuing ahead of that proceeding as both sides build their cases over how Jimmy Buffett’s estate should be administered.