Jane Buffett, the widow of singer Jimmy Buffett, is in search of to take away the co-trustee of her husband’s property, saying he has did not act in her finest pursuits.
The singer, who died in 2023, left an property with $275 million in belongings for the advantage of his spouse, however Jane Buffett claimed in a courtroom submitting Tuesday that she’s been instructed by her co-trustee that she’s to obtain lower than $2 million yearly, a fee of return of lower than 1%.
Richard Mozenter, an lawyer at Gelfand, Rennert & Feldman, is the co-trustee, based on the submitting in California state courtroom in Los Angeles. He didn’t instantly reply to requests for remark.
The late singer’s belongings embody a 20% stake in Margaritaville, an organization with pursuits in additional than 30 eating places and bars and 20 lodges, together with one in New York’s Occasions Sq.. That enterprise has paid distributions of roughly $14 million over the previous 18 months, based on the swimsuit. The property’s share of the Margaritaville enterprise was valued at $85.3 million.
The property’s different belongings embody $34.5 million in property, $15.3 million in airplanes, $2 million in musical gear, $11.4 million in high-quality artwork, and $5 million in automobiles, based on the swimsuit.
Buffett is finest recognized for his 1977 hit Margaritaville.
This story was initially featured on Fortune.com
